Average full-time earnings in the Isle of Man increased by 2.2% last year, according to statistics contained in the Government’s annual Earnings Survey.
Compiled and published by the Economic Affairs Division of the Government’s Cabinet Office, the survey provides a snapshot of earnings in June 2016 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 £685, 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, increased slightly to £537.
Other headline statistics from the Earnings Survey include:
- Overtime, incentive pay and shift premia made up 5.4% of employees’ gross weekly earnings.
- Average earnings in the Isle of Man were 6.4% higher than those in the United Kingdom, while median earnings were 0.3% lower in the Island than in the UK.
- Full-time employees worked an average of 37.4 hours per week, including 1.1 hours of overtime.
Minister for Policy and Reform, Chris Thomas MHK, said: ‘It is excellent that full time earnings for the lowest 10% of earners have gone up 4.5% and - unlike in 2015 - median earnings increased in 2016. Inclusive economic growth benefits everyone in their back pockets and makes it easier for government to sustain high quality public services.’
He continued: ‘A twin track economy and slightly lower Island population are issues that need addressing. It is vital that the Isle of Man rises to the challenge of creating high paying jobs in new sectors to make up for any lost in our Island’s more traditional sectors. The minimum wage rise last year seems to have been helpful, other government policies aimed to create opportunities for people and business seem to be having some success.’
The Isle of Man Earnings Survey 2016 is published on the Government website at http://www.gov.im/categories/working-in-the-isle-of-man/earnings/
