Average pay increases are not keeping pace with inflation in the Isle of Man.
The Treasury’s annual earnings survey has found that average pay for full time employees rose by 1.3 per cent, to £620 per week (£32,240), between June 2012 and June 2013.
The annual rate of inflation in the Isle of Man, as measured by the Retail Prices Index (RPI), showed an increase in December to 2.9 per cent up from 2.5per cent in November.
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On average full-time employees worked 38.9 hours per week.
Among other results were that:
Median earnings (the earnings level which half of the full-time workforce exceeds) decreased by 1.5 per cent to £504 (£26,208 per year).
Manx average earnings across the whole economy rose slightly less than in the UK (1.3 per cent compared to 2.2 cent) to now stand at exactly the same as the UK figure.
There was a slight widening of wage differences between the sexes, with the rates of average weekly earnings between males and females falling from 115.4 per cent in 2012 to 115.7 per cent.
Female average earnings are at 105.5 per cent of those of the UK.
More on this story in Tuesday’s Isle of Man Examiner.