ILO warns Middle East conflict could cost 43 million jobs
Business
The U.N.'s International Labour Organization (ILO) says the ongoing Middle East conflict could reduce global hours worked by an amount equivalent to 14 million full-time jobs in 2026 and 43 million in 2027 under a specific oil-price scenario.
Its new report highlights that rising oil prices and supply chain issues are hitting industries like construction, manufacturing, and transport, especially in regions where many people depend on these sectors for work or send money home to their families.
Middle East Gulf Asia-Pacific most affected
The ILO points out that the Middle East, Gulf states, and Asia-Pacific are most affected, with 40% of jobs in vulnerable sectors.
Migrant workers sending remittances back home face even more uncertainty if Gulf countries cut back on foreign labor.