According to the World Bank, Kenya's unemployment rate stood at 5.6% in 2023, reflecting a modest increase from 5.4% the previous year.
Youth unemployment remains a pressing concern, with 8.4% of Kenyans aged 15–24 jobless. While the overall rate appears relatively low, the quality of employment is a significant issue—only 10% of the workforce holds formal jobs, leaving many in unstable, low-paying informal roles.
To address this, initiatives like the Kenya Youth Employment and Opportunities Project (KYEOP), supported by the World Bank, have helped more than 155,000 young people launch businesses and create jobs, aiming to boost incomes and reduce underemployment.
