Grapevine

Job prospects for Gen Z dim as Kenyan economy slows in Q2

Kenya’s economic growth slowed down in the second quarter of 2024, raising concerns about the country’s ability to create jobs and meet the rising expectations of its restive youthful population, popularly known as Gen Z.

Key sectors, often seen as bellwethers for the economy, have contracted, official government data published yesterday, showed signalling potential job losses and a hurting economy.

According to the Kenya National Bureau of Statistics (KNBS), the country’s real GDP expanded by 4.6 per cent in the second quarter of this year compared to a growth of 5.6 per cent in the corresponding quarter of 2023.

While still in positive territory, the slowdown is a significant departure from the robust growth witnessed in recent years.

One of the primary drivers of the economic slowdown, data shows, has been the contraction in the construction sector, which is often seen as a barometer of overall economic health.