Kenya's resilient recovery from the Covid-19 pandemic highly depends on increased labour supply to the job market, says a new World Bank report. It notes that Kenya's working age (18-64) is set to increase by 1 million annually, significantly increasing the labor supply while reducing the dependency ratio. It however notes that unlocking this first potential demographic dividend will depend on sufficiently increasing good economic opportunities, especially for youthful labor market entrants. Demographic dividend is the accelerated economic growth that may result from a decline in a country's birth and death rates and the subsequent change in the age structure of the population. This creates the potential to soon begin benefiting from a demographic dividend due to workers supporting fewer dependents on average, increasing average incomes – if jobs can keep up.

Source: The Star July 07, 2021 00:56 UTC