Across the world, one urgent question is mounting: how much more pressure can ordinary workers absorb?
The 2026 Middle East energy shock is driving up the cost of fuel, transport, food, and manufacturing. According to the International Labour Organization (ILO), if oil prices remain 50% higher than their early-2026 average, the economic fallout will be severe:
• Declining hours: Global working hours could drop 0.5% in 2026 and 1.1% in 2027.
• Job losses: This reduction equals a loss of 14 million full-time jobs this year and 38 million next year.
• Shrinking pay: Real labour income is projected to fall 1.1% in 2026 and 3% in 2027.
For millions of daily-wage and informal workers, the reality is stark. Families face a compounding crisis of higher prices, fewer working hours, eroded purchasing power, and increasingly fragile household budgets worldwide.
