Sharp rise in jobless total

The latest labour market report, compiled and published by the Economic Affairs team at the Cabinet Office, shows the number of people registered unemployed in the Isle of Man stood at 1,034 in January. 

The figure represents a rise of 630 compared with January 2020 and equates to an unemployment rate of 2.4 per cent, up from 1.8 per cent in December 2020.

There was also a sharp drop in the number of vacancies notified to the Job Centre in January. The total of 400 was 125 fewer than the previous month.