Unemployment

Isle of Man Labour Market

Key Points as at the end of February 2023:

• Unemployment has increased by 16 persons from the previous month (January 2023), and has increased by 16 persons compared with the same month last year February 2022.
• The unemployment rate for February 2023 is 0.7%, remaining the same as the previous month (January 2023). The unemployment rate is the proportion of economically active population registered unemployed.
• 841 job vacancies remained at the Job centre in February 2023, which is an increase of 95 vacancies compared to the previous month (January 2023). Of these, 56% (469) were full time positions and 44% (372) were part time.
• It is estimated that 758 individuals are unemployed and looking for work in February 2023 compared with 742 in January 2023. This amounts to an unemployment rate of 1.7%. See Methodology section for further details.

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.

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, 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.

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