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Employers predict jobs loss bombshell this year
Sep 26, 2020
Federation of Kenya Employers (FKE) Executive Director Jacqueline Mugo addresses the press on the survey findings on the impact of Covid- 19 on enterprises at Waajiri House in Nairobi yesterday. The survey established that more than half of the private sector enterprises do not have enough resources to meet their staff costs over next six months.
What you need to know:
FKE said the 8.3 percent job losses that occurred between March to July portend more trouble if nothing is done to reverse the trend. FKE executive director Jacqueline Mugo said the government must re-open the economy to allow free movement of goods and services saying the cost of closing down the economy was more punitive than re-opening. Over 69 percent of those interviewed felt measures taken only worsened Covid-19 effect on their cash flows and had served to further hurt their operations.
Employers say Kenya will have lost over a million formal jobs to Covid-19 come December this year.
The Federation of Kenya Employers (FKE) said the pandemic wiped out 173,743 positions following imposition of a raft of restrictive measures to tame infections.
Releasing survey findings yesterday, FKE said the 8.3 percent job losses that occurred between March to July portend more trouble if nothing is done to reverse the trend.
FKE executive director Jacqueline Mugo said the government must re-open the economy to allow free movement of goods and services saying the cost of closing down the economy was more punitive than re-opening.
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