Rabat – Nearly the entire population of Gaza is living in poverty after a year of Israeli genocide, with the local economy collapsing and unemployment reaching unprecedented levels, a new United Nations report has deplored.
Released on Thursday by the International Labor Organization (ILO), the report highlights the dire situation in both Gaza and the West Bank, where violence has escalated since October 7, further straining local economies.
“The impact of the war in Gaza has extended far beyond the loss of life and destruction,” said Ruba Jaradat, ILO’s Regional Director for the Arab States. “It has fundamentally reshaped Gaza’s socio-economic landscape and severely impacted the West Bank’s economy and labor market. This devastation will reverberate for generations.”
Almost 100% of Gaza’s population now lives below the poverty line, according to the ILO. Families are struggling to meet basic needs as the territory grapples with the aftermath of relentless airstrikes and economic paralysis.
The report further reveals that the unemployment rate in Gaza has soared to a staggering 79.7%, leaving most of the workforce idle in an environment where economic activity has come to a near halt.
Meanwhile, the situation in the West Bank is also deteriorating. The ILO reports that the poverty rate there could more than double, rising from 12% in 2023 to 28% by mid-2024.
Unemployment in the West Bank averaged 34.9% over the past year, and the region has seen a significant 21.7% contraction in GDP.
Gaza’s economic collapse has been catastrophic. The ILO estimates an 84.7% drop in GDP compared to the previous year, driven by the destruction of homes, businesses, and infrastructure.
According to Gaza’s Ministry of Health, more than 42,400 people—mostly civilians—have been killed since October 2023.
The economic fallout has also led to widespread informal labor, with much of the remaining work focused on providing essential goods and services.
At the same time, inflation in Gaza has skyrocketed, reaching 248% year-on-year by August 2024, further eroding households’ ability to meet basic needs.
