Business
Unemployment Stays Low, While Reaching Two Year High
A total of 322 people were registered unemployed in January, up by 37 from the previous month
January saw the island’s highest recorded unemployment figure since 2021, but it still remains below 1%.
A total of 322 people were registered unemployed in January, up by 37 from the previous month (December 2023), and has increased by 25 persons compared with the same month last year (January 2023).
This gives an unemployment rate of 0.7%, up from 0.6% in December.
The previous highest number of registered people unemployed came in October 2021 as the island recovered from the height of the pandemic.
January also saw 916 vacancies remain open at the Job Centre at the end of the month, 440 more than December. Of those vacancies, 53% were full time, while 105 were classed as seasonal jobs.
The International Labour Organisation estimates that there are 767 people unemployed and looking for work on the island, up from 730 in December, this gives a rate of 1.7%.
Of those unemployed, 66% were men and the highest sector with unemployed people was retail distribution with 39.
Retail distribution was also the section with the highest number of vacancies left at the end of the month, followed by medical and health services and ‘other business services’.
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