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Gaza’s Unemployment Rate Hits 80% As Economy Plummets By 85% Amid Ongoing Conflict

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The International Labour Organization (ILO) has reported a staggering rise in unemployment in Gaza, which has soared to nearly 80% since the outbreak of the Israel-Hamas war one year ago.

The ILO’s findings reveal a catastrophic economic landscape, with the enclave’s economic output collapsing by 85%, plunging almost the entire population of 2.3 million into poverty.

Read More: World Food Day: Adeleke Lists Milestones In Agricultural Sector

In a statement released Thursday, the ILO characterized the situation as causing “unprecedented and wide-ranging devastation” across the labor market and broader economy of the Occupied Palestinian Territory, including both Gaza and the West Bank.

In the West Bank, unemployment averaged 34.9% between October 2023 and September 2024, with the region’s economy contracting by 21.7% compared to the previous year.

Before the onset of the conflict, unemployment rates were significantly lower, with Gaza at 45.3% and the West Bank at 14%.

However, as the war has continued, many Gazans have lost their jobs or been forced into informal, irregular work that primarily involves providing essential goods and services.

The conflict ignited on October 7, 2023, when Hamas militants launched an attack on Israel, resulting in approximately 1,200 Israeli deaths and around 250 hostages taken.

In response, Israel’s military operations have reportedly claimed the lives of more than 42,000 individuals in Gaza, according to local health authorities.

U.N. satellite data indicates that two-thirds of Gaza’s pre-war structures—over 163,000 buildings—have been damaged or destroyed.

Israel has stated that its military actions are focused on rooting out Hamas militants hiding among Gaza’s civilian population.

However, the consequences of the conflict have reverberated throughout the West Bank, where movement restrictions and trade barriers have severely impacted the economy.

“The impact of the war in the Gaza Strip has taken a toll far beyond loss of life, desperate humanitarian conditions, and physical destruction,” said Ruba Jaradat, ILO regional director for Arab states.

She emphasized that the conflict has fundamentally altered the socio-economic landscape of Gaza and the West Bank, with effects expected to persist for generations.

As the humanitarian crisis deepens, the need for international intervention and aid is becoming increasingly urgent, with calls mounting for immediate assistance to address the dire conditions faced by millions caught in the conflict.

 

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International News

Bangkok Underwater: Nearly 4,900 Evacuated as Floods Hit Thailand Capital

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Heavy rains have triggered severe flooding across parts of Bangkok, Thailand, forcing nearly 4,900 residents to evacuate to shelters as floodwaters swept through roads and residential areas.

The flooding has disrupted movement across parts of the Thai capital, with motorists and pedestrians forced to navigate submerged roads and seek alternative routes.

SEE ALSO: NAFDAC Warns Nigerians As Fake Cowbell Milk Floods Market

According to the Bangkok Metropolitan Administration, about 52,000 households have been affected by the flooding, prompting authorities to declare a flood disaster and intensify emergency response efforts.

Emergency teams have been deployed to assist affected communities and move residents from vulnerable areas to safer locations as water levels rise.

Bangkok is accustomed to seasonal heavy rainfall, but intense downpours can overwhelm drainage systems, particularly in low-lying areas, resulting in widespread flooding and disruption.

Authorities are continuing to monitor affected locations while coordinating evacuations and other emergency measures.

For thousands of residents, the immediate priority remains securing safe shelter and protecting homes and livelihoods as authorities work to manage the situation and restore normal activities once the floodwaters recede.

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International News

‘They Are Dying’ — Trump Explains Why He Rejected Iran’s Hormuz Proposal

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US President Donald Trump has explained his decision to reject Iran’s latest proposal to reopen the Strait of Hormuz, saying Tehran was seeking an agreement because it was losing revenue.

Speaking to reporters at the White House, Trump said Iran wanted to immediately reopen the strategically important waterway but argued that the proposal was not acceptable to his administration.

“They want to make a deal, and I think that’s fine. I like making a deal, too, but that deal would not be acceptable,” Trump said.

SEE ALSO: How the Strait of Hormuz Attack Could Trigger a Fresh Global Oil Shock

According to the US president, Iran’s push to reopen the strait was driven by the economic pressure it was facing.

“What they want to do is immediately open the Hormuz Strait. Do you know why? Because they are dying,” Trump said.

“You know why they’re dying? Because they have no money coming in, because they get their money from the Hormuz Strait.”

Trump also claimed that the US had established an unprecedented naval blockade against Iran, describing it as “a wall of steel.”

“So they outsmarted themselves. We put up the greatest blockade ever in military history. It’s a wall of steel,” he said.

“And guess what? They don’t have any money now because they wanted to close the strait.”

The Strait of Hormuz is a major global energy shipping route, and disruption to traffic through the waterway has significant implications for international oil markets and countries that depend on energy imports.

Trump’s remarks came amid continued tensions between Washington and Tehran over the reopening of the strategic waterway and negotiations involving Iran.

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International News

‘Another Oil Shock Is Coming’ — Badenoch Calls for North Sea Drilling Amid Middle East Supply Disruptions

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Conservative Party leader Kemi Badenoch has warned that another global oil shock could be looming amid disruptions to key energy infrastructure and shipping routes in the Middle East.

Badenoch made the warning in a post on X on Sunday, September 20, while pointing to the recent drone attack on Saudi Arabia’s East-West oil pipeline, restrictions affecting the Strait of Hormuz and threats to shipping around the Red Sea.

“Saudi Arabia’s East-West oil pipeline has been damaged by drone attacks. The strait of Hormuz is restricted, Houthi bandits threaten shipping routes into the Red Sea. Another oil shock is coming,” Badenoch wrote.

SEE MORE: Middle East Crises Pump Fuel Prices Upwards with Attacks on Iran, Saudi Arabia

She criticised the UK government’s handling of the situation and argued that Britain should increase domestic oil and gas production.

“Yet our Prime Minister and his Cabinet are behaving like a flock of ostriches, heads buried so deep in the sand they could strike oil themselves,” she added.

“The answer is simple: DRILL OUR OWN OIL AND GAS IN THE NORTH SEA.”

Saudi oil pipeline hit by drone attack

The warning comes after Saudi Arabia’s critical East-West oil pipeline was damaged in a drone attack earlier this month.

The 1,200-kilometre pipeline, operated by Saudi Aramco, transports crude oil across Saudi Arabia to the Red Sea port of Yanbu, providing an alternative export route when shipping through the Strait of Hormuz is disrupted.

Saudi officials said the September 11 attack involved drones coming from Iraq. No group had claimed responsibility for the attack in initial reports.

A subsequent Reuters analysis of satellite imagery found that three pumping stations, rather than two previously identified, had been damaged.

Industry sources disclosed that repairs could take between five and six weeks, although partial operations could resume sooner.

The pipeline had been carrying around 4 million to 5 million barrels of crude oil per day, equivalent to approximately 4% to 5% of global oil supply. Its shutdown has therefore raised concerns about additional pressure on already-disrupted global energy supplies.

The attack also affected Saudi oil exports.

Reuters reported on September 18 that Saudi Aramco had informed at least two European refining customers that they would receive no Saudi crude deliveries in October, following the pipeline disruption.

Hormuz and Red Sea disruptions

The pipeline attack has occurred against the backdrop of continuing disruption around the Strait of Hormuz, a major route for global oil shipments.

The East-West pipeline had become particularly important because it allowed Saudi Arabia to move crude to the Red Sea without relying entirely on the Strait of Hormuz. Reuters reported that the pipeline had served as a major alternative route while the strait was largely shut by the ongoing conflict.

Shipping through the Red Sea is also facing renewed security concerns following advances and attacks by Yemen’s Iran-aligned Houthi movement.

According to report on September 17, there is continued tensions involving the Houthis and Saudi Arabia were adding to concerns over regional energy infrastructure and shipping.

Earlier today, there are fresh Houthi claims of missile and drone attacks targeting strategic sites in Riyadh, with the developments contributing to renewed pressure on Saudi and Gulf markets.

 

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