Unemployment Rate Increases in Palestine

A Palestinian man prepares salted fish to be sold in a market ahead of Eid al-Fitr in Rafah, in the southern Gaza Strip, on April 26, 2022. (AFP)
A Palestinian man prepares salted fish to be sold in a market ahead of Eid al-Fitr in Rafah, in the southern Gaza Strip, on April 26, 2022. (AFP)
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Unemployment Rate Increases in Palestine

A Palestinian man prepares salted fish to be sold in a market ahead of Eid al-Fitr in Rafah, in the southern Gaza Strip, on April 26, 2022. (AFP)
A Palestinian man prepares salted fish to be sold in a market ahead of Eid al-Fitr in Rafah, in the southern Gaza Strip, on April 26, 2022. (AFP)

Figures released on Labor Day have revealed that the number of unemployed Palestinians had increased to 372,000 in 2021, compared to 335,000 in 2020.

The Palestinian Central Bureau of Statistics issued a statement noting that unemployment rate among labor force participants in Palestine remained unchanged at about 26% in 2021.

According to the statement, the unemployment rate maintained the same rate for the West Bank and Gaza Strip at about 16% and 47%, respectively.

It said the total labor underutilization rate dropped from about 36% in 2020 to 34% in 2021 (524,200 persons including 72,500 discouraged jobseekers and 26,400 in time-related underemployment).

Bethlehem governorate recorded the highest unemployment rate in the West Bank at about 25%, followed by Jenin and Hebron governorates at about 19% for each, while Jerusalem recorded four percent, the lowest among the West Bank governorates.

In Gaza Strip, Dier al-Balah governorate recorded the highest unemployment rate at about 53%, followed by Khan Yunis at about 51%. While North Gaza governorate reached about 38%, which is the lowest among the Gaza Strip governorates.

The statement said the number of workers in Palestine was around 1.3 million — 630,000 in the West Bank, 259,000 in the Gaza Strip, and 145,000 in Israel and the settlements.



World Bank Looking to Free up Emergency Funds for Lebanon, Managing Director Says

 A plume of smoke billows following an Israeli air strike on the village of Khiam in southern Lebanon near the border with Israel on October 7, 2024. (AFP)
A plume of smoke billows following an Israeli air strike on the village of Khiam in southern Lebanon near the border with Israel on October 7, 2024. (AFP)
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World Bank Looking to Free up Emergency Funds for Lebanon, Managing Director Says

 A plume of smoke billows following an Israeli air strike on the village of Khiam in southern Lebanon near the border with Israel on October 7, 2024. (AFP)
A plume of smoke billows following an Israeli air strike on the village of Khiam in southern Lebanon near the border with Israel on October 7, 2024. (AFP)

The World Bank is looking to free up emergency funds for Lebanon, potentially including up to $100 million through the use of special clauses in existing loan deals, its managing director of operations told Reuters.

The Washington-based development lender currently has $1.65 billion in loans to the country including a $250 million loan approved this week to help connect dispersed renewable energy projects in the country.

Amid fighting across southern Lebanon, the bank was currently discussing ways in which it could help support the economy, including through the use of so-called Contingent Emergency Response Component (CERCs) clauses.

"We can use our existing portfolio and free up some money for really critical, short-term liquidity needs," Anna Bjerde said.

CERCs are present in around 600 of the bank's existing projects, globally, and allow it to redirect funds that have yet to be disbursed, if requested to by a government, for example after a health or natural disaster, or during conflict.

Lebanon has yet to make such a request, Bjerde said.

After a year of exchanges of fire between Hezbollah and Israel mostly limited to the frontier region, the conflict has significantly escalated in Lebanon.

Hezbollah fired rockets at Israel's third largest city Haifa on Monday, while Israeli forces looked poised to expand ground raids into south Lebanon on the first anniversary of the Gaza war, which has spread conflict across the Middle East.

Lebanon's government could choose to use an existing social protection program that was put in place during the COVID-19 pandemic that allows for financial support to be sent to individuals, Bjerde said.

"It has the benefit of being totally digital so you can reach people, plus it can be verified a bit... so we will also probably use that to top up the social safety net for those that are particularly affected."

Up to 1 million people have been internally displaced in the country, she added: "So it's important we focus on that".

Lebanon's finance ministry and economy ministry did not immediately respond when asked for comment.