Youth Unemployment Soars as Pensioners Shoulder Financial Burden: Survey.
A significant portion of retirees is now responsible for supporting dependents, highlighting the severity of youth unemployment in the country.
According to a recent survey conducted by the Retirement Benefits Authority, 83.2% of pensioners surveyed reported having dependents who rely on them for financial assistance during their retirement.
“Eight out of every ten retirees surveyed have dependents relying on them for support.”
The findings underscore the economic challenges faced by young people seeking employment.
The report further establishes that individuals aged 20 to 24 and 25 to 29 experience a high rate of unemployment.
By the end of the fourth quarter of 2024, out of a total of 960,000 unemployed individuals, approximately 424,000 were aged between 25 and 29.
These two age brackets significantly contributed to the last recorded unemployment rate of 4.9%, demonstrating the continued struggles of young job seekers.
The Kenya National Bureau of Statistics (KNBS) defines unemployment as individuals actively seeking work within the last four weeks before the survey.
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“Unemployment is defined as individuals actively seeking work within the last four weeks before the survey.”
The growing number of unemployed youth, combined with an aging population supporting them, presents a pressing economic challenge that calls for immediate intervention.
Youth Unemployment Soars as Pensioners Shoulder Financial Burden: Survey
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