ILO: Palestinian Economy is in Deep Trouble

Rates of unemployment have jumped up amongst the Palestinians in both, the Gaza Strip and the West Bank. International Labour Organisation (ILO) said that numbers of unemployed Palestinians have reached 15.3% in 2011 and 2012 due to the economic depression and abject destitution. The situation in Gaza is the worst; unemployment rates have reached 31% among males and 50% among females. 18.4% of the Palestinian males turned their backs to education, while 31.4% females did so. The financial crisis in Palestine has become an economic and social crisis, ILO reported. Israel must adopt measures and procedures that would not only alleviate the Israeli siege but also end it thoroughly so that the Palestinian economy would grow, ILO confirmed. The Palestinian economy is standing still because Israel continues its building activities in settlements, ILO said. IOL urged Israel to push the peace process forward and to retrieve the Palestinian economy. ILO called on Israel to ease movement, encourage work and retrieve the Palestinian economy.