Kenyans who left school at the Primary school level have been hit the most by the high cost of living with 10.5% of them being forced to look for additional jobs to sustain them.
According to the latest Kenya Institute for Public Policy Research and Analysis (KIPPRA) report dubbed, ‘The Kenya Economic Report 2023: Cost of Living and the Role of Markets’, secondary school leavers followed with 10%, university graduates with 5.3%, TVET trainees with 4.3% and those with no educational background were the least with 3.7%.
The report also indicates that 26.5% of university graduates adjusted their consumption by cutting back of expenses as a coping mechanism to mitigate the hard economic times, followed by 26% of primary school leavers, 25.5% of secondary school leavers, 23.4% of TVET trainees and 18.5% of those with no educational background.
Additionally, 24.4% of residents who have no educational background sought assistance from family and friends, followed by 23.6% of secondary school leavers, 20.8% of TVET trainees and 19.9% of university graduates
The analysis further reports that 16.2% of TVET trainees withdrew their savings, followed by 15.9% of university graduates, 10.7% of secondary school leavers, 8.5% of those with no educational background and 8.4% of primary school leavers.
Furthermore, borrowing from informal channels was also used as a coping strategy with university graduates topping the list with 14.6%, followed by TVET leavers with 12.7%, primary school leavers with 11.4%, secondary school leavers with 11.0% and the ones with no educational background with 6.3%.
Other residents resorted to borrowing from formal financial institutions with TVET trainees at 9%, followed by university graduates with 8.6%, secondary school leavers with 3.5%, primary school leavers with 2.3% and those with no educational background with 1.1%.
In addition to that, the sale of assets including livestock was another strategy with the ones with no educational background leading with 22.6%, primary school leavers with 10%, secondary school leavers 7.8%, technical training team with 6.4% and university graduates at 2.6%.
Further, 2.0% of university graduates relocated to more affordable residences, followed by secondary school leavers at 1.5%, those with no educational background at 1.3%, TVET trainees with 0.9% and primary school leavers at 0.7%.
The Report revealed that some Kenyans have resorted to taking goods on credit with those with no educational background leading at 9.3%, primary school leavers at 5.9%, secondary school leavers at 4.2%, and TVET trainees at 2.9%. University graduates close the pack with 2%.
By Viola Chepkemoi
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