War in Gaza Devastates Economy, Surges Unemployment to 80%

A recent ILO report outlines the devastating economic impact of the Gaza conflict, with unemployment nearing 80% and GDP contracting by almost 85% over the past year. In Gaza alone, joblessness reached 79.7%, and the region's economic output declined unprecedentedly by 84.7%, affecting the West Bank as well. The report reveals how the conflict has severely strained the labor market and economy, leaving the region in a dire state and highlighting the need for humanitarian and economic interventions to address the long-term crisis.