Nairobi, July 6 -- Kenyan private firms raised workers' June pay at the highest rate in 21 months in a bid to boost productivity, signalling economic recovery from Covid-19 economic hardships.
Stanbic Bank Kenya's Purchasing Managers Index (PMI) - which measures month-on-month changes in private sector activity output, new orders and employment -says last month's pay growth was the highest since October 2019.
Corporate chiefs, under pressure to meet staffing needs, have in recent months preferred salary cuts to layoffs in anticipation of an uptick in demand in the coming months.
The rise in pay came in a month when firms slowed down the pace of hiring compared with May and instead focused more on efficiency in production of goods and ser...