Unemployment

Isle of Man Labour Market

Key Points as at the end of March 2024:

• Unemployment has decreased by 14 persons from the previous month (February 2024), and has increased by 1 person compared with the same month last year (March 2023)
  
  
• The unemployment rate for March 2024 is 0.7%, remaining the same as the previous month (February 2024). The unemployment rate is the proportion of economically active population registered unemployed
  
  
• 837 job vacancies remained at the Job centre in March 2024, which is an increase of 48 vacancies compared to the previous month (February 2024). Of these, 57% (481) were full time positions and 43% (356) were part time. Within the full time figures above, 21 vacancies are classified as temporary/seasonal and within the part time figures 60 vacancies are classified as temporary/seasonal
  
  

Notes        

Long term unemployed are those who have been registered unemployed for 12 months or longer.

A vacancy is defined as a vacant position being actively recruited for by an employer, advertised with the IOM Jobcentre. An advertising period of '2 week policy' for non-agency roles, and 3 months for agency roles, was operated but with the introduction of online vacancy forms, employers can (in normal circumstances) now stipulate their own closing date. This 2 week advertising period was reintroduced in early April 2022, to enable monitoring of the status of adverts/vacancies by asking all employers to confirm in writing that they are still actively recruiting. This is important not only to get a more accurate picture of the impact of COVID-19 on Island sectors, but also for Jobseekers when searching for live vacancies. The only exception to our 2 week rule is for public sector vacancies.

Statistics Isle of Man Job market statistics are published monthly by Statistics Isle of Man which is part of the Cabinet Office.

For more information contact: