Geneva: The United Nations International Labour Organization (ILO) announced the loss of 507,000 jobs so far across the occupied Palestinian territory due to Israeli aggression on the Gaza Strip, causing economic disruption and unprecedented losses in jobs and livelihoods.

ILO Regional Director for Arab States Ruba Jaradat said that Israeli aggression on Gaza has resulted in heavy loss of lives and left the Gazans on the brink of famine.

She noted that the destruction of infrastructure, schools, hospitals, and business in Gaza has decimated entire economic sectors and paralyzed labor-market activity, with untold repercussions on the lives and livelihoods of Palestinians for generations to come. She indicated that the organization is working to provide short- and long-term assistance to affected workers and employers.

According to estimates, during the last quarter of 2023, the Palestinian economy declined by a third compared to 2022, recording a decrease of 80% in the Gaza Strip and 20% in the occupied West Bank.