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Gaza’s unemployment rate is the highest in the world, says World Bank

The World Bank released a report stating that Gaza's economy is on the "verge of collapse," saying the unemployment rate there is now the highest in the world.

By: Associated Press | Jerusalem | Published: May 22, 2015 3:21 pm
Gaza, Gaza blockade, World bank, Gaza occupation, Jerusalem, Gaza economy, Jerusalem economy, Gaza unemployment, Jerusalem unemployment, unemployed Gaza, Gaza strip unemployment,  Gaza unemployed, Gaza news, world news The World Bank on Friday released a report stating that Gaza’s economy is on the “verge of collapse,” saying the unemployment rate there is now the highest in the world. (Source: AP)

Gaza’s economy is on the “verge of collapse,” a new World Bank report warned Friday, saying the unemployment rate there is now the highest in the world and calling on Israel and international donors to remedy the situation.

It charged that “blockades, war and poor governance have strangled” the economy of the Gaza Strip, ruled by the Islamic militant group Hamas.

The report said Gaza’s GDP would have been four times higher if not for conflicts and restrictions, including a blockade in place since 2007.

Israel and Egypt imposed the blockade on Gaza after Hamas violently seized the territory from forces loyal to the Western-backed Palestinian President Mahmoud Abbas. Israel says the blockade is necessary to prevent Hamas from getting weapons and building militant infrastructure, while critics say it amounts to collective punishment.

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Since its takeover, Hamas has fought three wars with Israel, including 50 days of fighting last summer in which thousands of Gaza buildings were either destroyed or damaged. Over 2,200 Palestinians, including hundreds of civilians, were killed during the war. On the Israeli side, 67 soldiers and six civilians were killed.

The report said Gaza’s economy is badly hurt as a result of the fighting, especially the agriculture, construction, manufacturing and electricity sectors.

It said about 43 percent of Gaza’s 1.8 million residents are unemployed; a figure it said is the highest in the world. Youth unemployment reached about 60 percent by the end of last year, it said.

“The current market in Gaza is not able to offer jobs leaving a large population in despair particularly the youth,” Steen Lau Jorgensen, World Bank country director for the West Bank and Gaza, said in the report. “The ongoing blockade and the 2014 war have taken a toll on Gaza’s economy and people’s livelihoods.”

The report warned that the “status quo in Gaza is unsustainable.” It said the coastal territory’s recovery depends on an easing of the blockade and on donor countries honoring their pledges made at an international conference in Cairo after last year’s war.

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  1. L
    May 23, 2015 at 2:45 am
    muslims in gaza or stan are always unemplo the only employment mohammad trained them for is to kill and get killed (before twenty preferrably) in gore.they are busy the world over with single-minded occupation.
    1. G
      George thakur
      May 23, 2015 at 3:18 am
      If you believe in the fantasy that an imagined God when kicking Adam and Eve out of the proverbial Garden of Eden is said to have instructed Adam and Eve to go and MULTIPLY, your country will surely land up with a hundred million citizens fighting for a million jobs the country may afford, especially if you tend to believe in the edict 'Boko Haraam': that everything foreign or modern, or intelligent is haraam. Although advertised as omniscient, poor God, who is not an Economist, during the Garden of Eden era millions of years ago failed to estimate that there will one day be the year 2015, when a State known as Palestine will suffer with acute joblessness. Some God we believe in!!