ILO warns Middle East war could threaten 38 million jobs38 million jobs
The International Labour Organisation warned on May 18 that the Middle East war is disrupting wages, working conditions and incomes far beyond the conflict zone.
It said as many as 38 million full-time jobs could be at risk if the fighting and related economic shocks continue, making the crisis a global labour and growth concern.
- The ILO was founded in 1919, making it one of the oldest UN agencies.
- Labour shocks often spread faster than trade shocks because wages and hiring react quickly to uncertainty.
- Tourism can be hit early in conflicts because travelers cancel trips before physical damage reaches faraway economies.
Israel-Lebanon War
Israel and Hezbollah have agreed to a 60-day ceasefire that mandates Israeli troop withdrawal from southern Lebanon while the Lebanese army deploys across all border crossings and the south.
22 June, 08:25 AM
Israeli strikes leave Tyre reeling despite ceasefire hopes21 June, 12:00 AM
Hezbollah launches rocket barrage and drone attack on Israeli post20 June, 02:04 PM
Iran closes Strait of Hormuz again after Israel attacks Lebanon
