Minister: Unemployment costing taxpayer millions

Speaking to 3FM, Eddie Teare said that every out-of-work individual cost £25,000 a year via lost direct tax, national health insurance and jobseekers’ allowance payments.

Earlier this week new figures revealed unemployment has risen again in the Island to 910 - a national figure of 2.1 per cent.

However, Mr Teare said there were positives such as a decrease in long-term unemployed.

He added that in an economy such as the Isle of Man’s there would naturally be increases in some sectors and decreases in others (see audio).