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Average pay up less than 1% 16 January 2006

    Heightened competitive and cost pressures for employers appear to have served to limit increases in employee earnings in 2005.

    The results of the Treasury’s annual Earnings Survey has found that average earnings of full-time employees increased by only 0.9% comparing June 2004 and June 2005 pay.

    Amongst its findings, the report on the survey concludes that the average weekly earnings for a full-time worker on the Island now stands at £489. Half of all full-time employees earned more than £418 per week.

    Treasury Minister Allan Bell reflected on the findings in the report that show public sector average pay to be significantly ahead of that in the private sector:

    “The 2005 report concludes that average pay across the public sector is some 15% above that in the private sector and this differential has widened over the last four years.
    This is a matter that has to be addressed with greater realism if we wish to keep control of government spending whilst retaining a low tax burden on the Island’s population. It is also imperative that this trend does not serve to reduce the availability of labour for our private employers. We simply cannot afford to lose sight of the fact that the prosperity of everyone in this community is dependent first and foremost on the efforts of the wealth generating private sector.”

    In addition to being on the Isle of Man Government website (www.gov.im) copies of the 2005 Earnings survey are available free of charge from the Economic Affairs Division, Illiam Dhone House, 2 Circular Road, Douglas, Isle of Man. IM1 1PQ (Tel. (01624) 685780; Fax (01624) 685747; e-mail: economics.gov.im. Enquiries should be sent to Martin Caley at this address.

    16th January 2006

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