Manx unemployment at shocking 2.5%

At the end of January there were 1,100 people out of work on the Isle of Man, an increase of 0.3% from December. A recent rise in Isle of Man unemployment is “regrettable” but not surprising, the government has said. 

The current unemployment rate is now 2.5%, compared with a figure of 8.4% in the United Kingdom.

“You have to go back many years for the last time unemployment fell in January.”He added: “Though regrettable, an increase in numbers on the register this month does not come as a total surprise. 

Treasury Minister Eddie Teare said despite the recent downturn, the island’s economy was still creating job opportunities for local residents.