World News: As the conflict between Israel and Hamas continues into its second year, the United Nations has reported that nearly 100 percent of the Gaza Strips population now lives in poverty. The wars consequences extend far beyond loss of life, as the region grapples with a devastated economy and staggering unemployment rates.Economic collapse in GazaRuba Jaradat, the ILOs regional director for Arab States, highlighted the dire humanitarian conditions resulting from the war. The impact of the war in the Gaza Strip has taken a toll far beyond loss of life, she stated. It has fundamentally altered the socioeconomic landscape of Gaza. With nearly the entire population facing poverty, the economic landscape is predicted to remain bleak for generations.The ILO noted that unemployment in Gaza has reached an alarming average of 79.7 percent. The economic fallout has been equally severe in the occupied West Bank, where unemployment has surged to approximately 35 percent since the conflict escalated last October. The contraction of the economy in the West Bank is expected to double the short-term poverty rate from 12 percent in 2023 to 28 percent by mid-2024.Alarming statisticsThe economic indicators paint a grim picture: Gazas gross domestic product (GDP) has plummeted by 84.7 percent, while the West Bank experienced a contraction of 21.7 percent year-on-year. These figures highlight the widespread destruction of homes and infrastructure, which has led to the closure of most economic activities.Additionally, soaring prices have made life unbearable for Gazans, with inflation hitting a staggering 248 percent year-on-year in August. The United Nations has once again warned of the looming threat of famine in the territory.A challenging futureThe situation in the West Bank is deteriorating as well, exacerbated by Israeli restrictions on the movement of people and goods. These barriers have severely hampered economic activities, further straining livelihoods. Over the past year, more than 738 Palestinians have been killed, while at least 24 Israelis have lost their lives in related violence.As the war drags on, the socioeconomic conditions in Gaza and the West Bank remain critically dire, raising urgent calls for international intervention and support to alleviate the suffering of the civilian population.