On average, in the two Palestinian territories, unemployment in Gaza and the West Bank is 51.1%, while GDP fell 32.2% in one year, according to a study by the World Labor Organization.
Follow our live blog on the Middle East conflict here.
The war in the Gaza Strip caused The gross domestic product (GDP) of the Palestinian enclave fell by 84.7%, while the unemployment rose to 79.7%The International Labor Organization (ILO) indicated this Thursday.
On the other hand, in West Bankhe unemployment rose to 34.9%between October 2023, the beginning of the conflict in Gaza, and the end of September 2024, while the The Gross Domestic Product (GDP) fell 21.7%according to data from the ILO’s fifth report on the economic impact of the Gaza war on the Palestinians.
On average, in the two Palestinian territories, unemployment in Gaza and the West Bank is 51.1%, while GDP fell by 32.2% in one year, according to the same study prepared in collaboration with the Palestinian Central Bureau of Statistics. .
The figures are similar to those in the previous ILO report, published in June, but reveal an increase of 0.6 percentage points in the unemployment rate in Gaza and 2.9 points in the West Bank.
These data reveal an “unprecedented” contraction in the history of the Occupied Palestinian Territories, where, even during the economic crisis that occurred during the revolt against the Israeli occupation in 2001 (Second Intifada), GDP fell by 14.9% , less than half of what is currently the case, according to the ILO, a United Nations organization.
“The impact of the Gaza war has not only caused loss of life, atrocious humanitarian conditions and destruction. It has disrupted the economy and society of the Gaza Strip and has also seriously affected the economic and labor markets in the West Bank,” said ILO Regional Director for Arab States, Ruba Jaradat.
According to the Geneva-based organization, almost 100% of Gaza’s population currently lives in poverty, while in the West Bank the percentage of people living in poverty has increased from 12% to 28%.
The ILO also noted that the West Bank economy has been affected by Israeli barriers to the movement of people and goods, along with increased trade restrictions, supply chain cuts and the closure of the Israeli labor market to Palestinian workers.
The statistics “reflect the cessation of most economic activities in Gaza due to the destruction of homes and infrastructure and the recurrent displacement of workers and employers,” the ILO detailed.
“This situation caused the total cessation of work and the predominance of informal and irregular work.focused primarily on the provision of essential goods and services,” according to the organization.
At the same time, incomes fell and Gazans had to contend with rising prices, with annual inflation reaching 248% in August 2024.
The rise in prices seriously affected the purchasing power of families, “making it increasingly difficult to satisfy the most basic needs.”
On Wednesday he warned about the risk of hunger in the territory.
“In the West Bank, Israeli barriers to the movement of people and goods, combined with broader trade restrictions and supply chain disruptions, have severely affected the economy,” the ILO says.
Since October 7, at least 703 Palestinians have been killed in the West Bank by Israeli soldiers or settlers, according to data from the Ramallah-based Palestinian Health Ministry.
Israeli authorities say at least 24 Israeli citizens, whether civilians or members of the security forces, were killed in attacks by Palestinian militants or during military operations during the same period in the West Bank.
In Gaza, after Israel’s large-scale military response to the attack by the Islamist movement Hamas on October 7 of last year, more than 42,000 people died, most of them civilians, according to data from health officials in the enclave.
Source: Observadora
