UNHCR Jordan initiated a quarterly analysis of the socio-economic situation of refugees in Jordan, with the main purpose of monitoring changes in vulnerability levels among refugee communities over the four quarters of 2022. Building on UNHCR’s Vulnerability Assessment Framework (VAF) Report conducted in 2021, the analysis takes a sectoral approach in examining the hardships facing refugees, with an in-depth look at the economy. In Q3 2023, the analysis has been expanded to include refugees from the two main Syrian refugee camps: Azraq and Zaatari. The present report presents the results for Q4 2022.