Isle Of Man Sees Increase In Low Earners
In the annual earnings survey, 2,468 people participated.
The Isle of Man's yearly Earnings Survey has released its findings.
Over 2,400 individuals joined from private and public sectors.
The number of people earning less than the living wage increased by 6.8% from the previous year.
People on the island made more money per year than workers in the UK.
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In 2022, the Isle of Man saw a 6.8% increase in the amount of people making less than the living wage, says a survey.
Over 2,400 people did a survey on the Isle of Man. They wanted to know how much money people usually make in the private and public sectors.
More people are getting paid below the living wage. 16.9% of people were paid below it. This is higher than 10.1% last year.
The increase in hourly wage from £10.87 to £11.05 in August 2020 is believed to be the primary reason for the jump.
Last year, more people were earning the minimum wage. The increase was 3.3%. The survey found that 4.5% of people earned the minimum wage.
Before, the lowest amount workers could earn in an hour was £9.50. However, in April this year, the minimum wage increased to £10.75.
The report claims that people earning less than the living and minimum wages increased. It is because of the increase in both living and minimum wages, said the report.
Tynwald will match the two figures within three years.
The study found that legal and accountancy services, medical and health services, and e-gaming were the industries where people earned the most.
Men earned £139 more per week than women. Men also worked 2.2 extra hours per week.
Weekly earnings did not show how much comparable jobs paid.
The report shows islanders earned more money than people in the UK. The difference is 14.8%. This information comes from the Annual Survey of Hours and Earnings.
In 2022, workers in the Isle of Man earned more than those in the UK. The difference was significant. Last year, workers in the Isle of Man earned 7.7% more than their UK counterparts. This year, the gap increased.
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