THE unemployment rate in the Isle of Man rose to 2.5 per cent at the end of January with over 1,000 people out of work.

Statistics show that 1,100 people were unemployed at the end of last month – 795 males and 305 females.

During the month 296 people signed on and 175 signed off which was a net increase of 121.

A total of 452 vacancies were notified to the job centre with 305 remaining on file.

Treasury Minister Eddie Teare MHK said: "Though regrettable an increase in numbers on the register this month does not come as a total surprise. You have to go back many years for the last time unemployment fell in January.

"Whilst the overall trend has been up there was a sharp increase in the number of vacancies notified to the job centre in the last month and this does demonstrate that the economy is still creating employment opportunities."

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