Gazan GDP Plummeted 85% Over Year: An ILO Perspective
Thursday, 17 October 2024, 08:43
Gazan Economic Crisis: Shocking GDP Decline
According to the International Labor Organization (ILO), the Gazan GDP has plummeted by a staggering 85% over the past year. This decline has significant implications for the region, showcasing severe economic distress.
Unemployment Rates: A Grave Situation
During the period from early October 2023 to the end of September 2024, the unemployment rate in the West Bank averaged 34.9 percent. However, in Gaza, the situation worsened drastically with an average unemployment rate of 79.7 percent.
- The ILO's findings indicate a critical need for intervention.
- Economic stability in Gaza is the focus of renewed discussions.
- The report calls attention to urgent humanitarian needs.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.