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Skills shortage 'across all sectors'

Headache of near zero unemployment

Unemployment in the Island has fallen so low, a skills shortage is looming across the Manx economy.

The unemployment rate fell to just 1.1% last month, its lowest April figure since 2004.

The claimant count was down to 462, a fall of 250 on April 2016.

At the same time, more than 1000 vacancies were posted at the Job Centre, out-numbering job seekers by more than two-to-one.

Economists regard unemployment rates of up to 2% as negligible - meaning the Island currently has near-full employment.

On the plus side, analysts say around £2.5 million pounds is being saved in unemployment benefits, with those in work also paying tax and NI.

However, Executive Director of Policy and Strategy in the Cabinet Office Carl Hawker says the situation has left businesses of all variety lacking vital staff:

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