Before the Gaza Strip's closure to Israel in 2000 following the Al-Aqsa Intifada, most residents had taken a number of various jobs in Israel or worked as farmers at local tells and pastures. There is a weekly souk, or open-air market, on Sunday in which residents buy or sell goods from their workshops, bakeries, cafes, diners and grocery lots.
Maghazi has three elementary schools and 2 junior high schools run by the UNRWA. 6,407 pupils had enrolled at these schools in the 2004-2005 year. In 1998, the UNRWA provided integrated educational services to 1,264 children with disabilities. There are a number of youth activities that involve in athletics, social and cultural programs.