Average full-time earnings in the Isle of Man increased by 2% last year, according to statistics contained in the Government’s annual Earnings Survey.
Compiled and published by the Economic Affairs Division of the Cabinet Office, the survey provides a snapshot of earnings in June 2015 based on a random sample of employees drawn from income tax records.
It shows the average gross weekly pay of full-time employees in the sample was £672, taking into account overtime, shift premiums and bonus payments.
Median pay, the pay of the middle person had the entire population been lined up from highest to lowest, decreased slightly to £536.
Other headline statistics from the Earnings Survey include:
- Overtime, incentive pay and shift premia made up 6.6% of employees’ gross weekly earnings.
- Average earnings in the Isle of Man were 10% higher than those in the United Kingdom, while median earnings were 5.6% higher in the Island than in the UK.
- Full-time employees worked an average of 37.1 hours per week, including 0.6 hours of overtime.
Chief Minister Allan Bell MHK said the survey provides further evidence of the strength of the Isle of Man economy. However, he added that Government would continue to help lower paid and vulnerable members of the community.
Mr Bell said: ‘This Government maintains a strong focus on economic growth and job creation. The £50 million Enterprise Development Fund is an example of the positive action being taken to stimulate new opportunities. Investment in education and training is also helping to equip our young people with the skills required to take up well-paid careers in sectors such as e-business and high-tech manufacturing.’
He added: ‘While the survey highlights the good employment prospects and earnings potential on offer in the Isle of Man, I recognise that the figures will provide little comfort to people earning much less than the average figure. To help those on lower pay, we have increased the minimum wage in the Isle of Man and are progressing proposals announced in this year’s Budget to lift more than 2,000 people out of the tax net.’
The Isle of Man Earnings Survey 2015 is published on the Government website at http://www.gov.im/categories/working-in-the-isle-of-man/earnings/
