Unemployment figure falls for Isle of Man during May

However, long-term unemployment is up on previous month

Unemployment on the Isle of Man is down by just over 6-percent for May, standing at 246 people.

By comparison, that's 18 fewer than in the same period of 2022.

The rate of unemployment for May sits at 0.5-percent, which is a decrease of 0.1-percent on April 2023.

The unemployment rate is the proportion of economically active population registered as unemployed.

The latest data released by Statistics Isle of Man shows 153 males and 93 females were registered unemployed in May 2023.

Vacancies accounted for only include those that an employer registers with the Isle of Man Job centre, and doesn't factor independently advertised positions.

The International Labour Organisation (ILO) estimates a total of 691 individuals are unemployed and looking for work - equating to an unemployment rate of 1.5-percent.

The ILO measure includes not only those who are claiming job seekers allowance, but also those who are not registered but may still be looking for work.

Eight-hundred-and-thirty job vacancies are reported to have remained at the Job Centre in March - a reduction of 22 positions in comparison with the previous month.

Sectors identified to be among those with the largest vacancy rates include catering, retail and medical and health sectors.

Resident's who are classed as long-term unemployed are those out of work for 12-months or longer.

As of May 2023, 21 people are categorised as long-term unemployed, up from April's figure of 18.

The largest proportion of long-term unemployed people is seen in the 55+ age bracket at 48-percent, with the 45-55 bracket coming in as the second largest at 38-percent.

Geographically, the east of the Island is home to the most unemployed persons at 155.  The north, south and west stand at 42, 33, and 16 respectively.