he unemployment rate in the Palestinian territories has surged to 50.8 percent, according to a joint bulletin released Friday by the International Labour Organization (ILO) and the Palestinian Central Bureau of Statistics (PCBS).
The report reveals that unemployment in the Gaza Strip has reached a staggering 79.1 percent, while in the West Bank it has seen a rise to 32 percent. These figures exclude individuals who have left the labor force due to unattainable job prospects, suggesting the actual number of jobless individuals is even higher.
Real GDP in the Gaza Strip has contracted by an astounding 83.5 percent and by 22.7 percent in the West Bank over the past eight months. Overall, the real GDP of the Palestinian territories has shrunk by an average of 32.8 percent.
“Our new bulletin highlights the grim toll the conflict in the Gaza Strip has taken on human lives and the desperate humanitarian situation it has caused, compounded by widespread economic devastation,” said ILO Regional Director for Arab States Ruba Jaradat. “This exacerbates the suffering of Palestinians in both the Gaza Strip and the West Bank, further endangering their safety and well-being.”
