THE Island's Treasury Minister has praised businesses following the news that unemployment decreased in 2010.
However Anne Craine MHK has warned that it is likely that unemployment figures will rise in January due to reduced labour requirements.
She said: "Despite tough trading conditions in UK and overseas markets the Island's business community has performed outstandingly. The economy has never gone into recession and continues to grow.
"The major benefit of this is reflected in the unemployment figures. Although unemployment rose in December, which is not unusual, it fell by 83 over the course of 2010, having risen by more than 300 over the previous two years.
"We expect to see higher unemployment figures for January as registered unemployment has increased in this month in each of the last 12 years.
"Reduced labour requirements over the winter months in certain of our sectors is a prime factor in this - employment in the construction sector being particularly vulnerable. Indeed of the net increase of 60 on the unemployment register, in December, 36 were individuals previously employed in building."
The latest job market statistics show that there were 795 people unemployed at the end of December which is an increase of 60 during the month but 83 fewer than at the close of 2009.
The figure represents an unemployment rate of 1.9 percent.
Also see: "Isle of Man's drop in unemployment compares favourably with Channel Islands."
