A new survey by the Isle of Man Government reminds us that we need to focus on jobs and easing the squeeze on household finances:

Compared to now, to what degree do you expect your household finances to change over the next three months as a result of the outbreak?

Manx Radio reports:

More than 600 households took part in the questionnaire, with just 18% saying their finances had improved since the end of lockdown.

Almost 10% are racking up debt to make ends meet, while just under a quarter are having to dip into savings.

Finances will get a little or a lot worse going forward, according to 33.67%, while those who are already feeling the strain say they’re struggling with bills, borrowing money and unable to save.

Having to dip into savings can have a psychological impact on those under financial pressure. That’s from the Manx Credit Union following the survey, which showed around 23% of households are having to use savings.

A third of Manx households ‘expect finances to get worse’

This is a powerful reminder that we need to focus on jobs, jobs, jobs, jobs:

On Thursday, voters have an opportunity to vote for a strong voice for securing local jobs and easing the squeeze on household finances.

Information on how to vote in the Douglas South by-election is available here.

Michael Josem is a long-term consumer advocate, most prominently as a global leader in combating fraud in the online gambling industry. He was in part the inspiration for the 20th Century Fox Movie, Runner Runner, starring Ben Affleck and Justin Timberlake.

Josem has over a decade of experience as a senior business leader working across various high-tech and online industries, and takes action to build a better community. His primary volunteer roles include service for the Commonwealth War Graves Commission, and Graih, the homelessness charity.

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