The real incomes of people who live in the Isle of Man have dropped over 12 months.

Statistics revealed by the government today show that full-time earnings rose last year by 3.9%, but fell by 0.1% when adjusted for inflation.

Published by the government’s Cabinet Office, the annual earnings survey provides a snapshot of earnings in June 2017 based on a random sample of employees drawn from income tax records.

It shows the median gross weekly pay of full-time employees in the sample was £558, taking into account overtime, shift premiums and bonus payments compared with £537 the year before.

Other statistics from the survey include:

Full-time employees worked an average of 37.7 hours per week, including 1.1 hours of overtime.

Median earnings were 1.4% higher than those in the United Kingdom.

14% of employees in 2017 earned less than the Isle of Man Living Wage, down from 16% in 2016, and 5% of employees earned the Minimum Wage.

Minister for Policy and Reform Chris Thomas MHK said: ’Our economic growth needs to benefit everyone in their back pockets as this is good for them, good for local business and it makes it easier for Government to sustain high quality public services.

’Unfortunately - as inflation has ticked up - the real value of earnings has not increased for most people last year.

’Thus it is vital that government isn’t complacent and does everything it can to grow jobs, hold down price rises and ease financial pressures at home.’

The Isle of Man earnings survey 2017 is published on the government website at http://www.gov.im/categories/working-in-the-isle-of-man/earnings/