Job Market Declines For Fourth Consecutive Year
According to the latest Employment Survey results released today [Apr 4], Bermuda’s employers reported a loss of 1,956 jobs from 2011. Total filled jobs dropped from 37,399 in 2011 to 35,443 in 2012, which equates to a 5.2% decrease year-over year.
The report said, “This marks the fourth consecutive year that the job market has declined. The level of jobs filled at 35,443 is the lowest on record since 1998 when there was a reported 35,323 filled jobs in the economy.
“Bermudians accounted for just over half [54% or 1,055] of the job losses in 2012. Guest workers accounted for 873, while non-Bermudian spouses of Bermudians lost 41 jobs andpermanent residents gained 13 jobs, respectively. The breakdown of jobs by sex showed 1,121 less filled jobs amongst males and 835 less filled jobs amongst females.”
Report Highlights:
- Total jobs filled by Bermudians dropped 4%.
- Total jobs filled by non-Bermudians fell 10%
- Construction industry fell by 11%, losing 292 filled jobs between 2011 and 2012
- The Retail Trade and Business Services sector lost 276 jobs and 268 jobs, respectively in 2012
- The number of filled jobs in the International Business sector declined from 4,077 in 2011 to 3,867 in 2012, down 210 jobs or 5%.
- The median gross annual income for all jobs rose 1%, to $59,985.
The report said, “Since the inception of the Employment Survey in 1978, the single largest decline in the number of jobs in the workplace occurred between 2011 and 2012. Employers reported an overall decrease of 1,956 jobs as the job market contracted for the fourth year in succession. There were no notable employment increases in any of the major sectors of the economy.”
This latest edition of the Bermuda Job Market Employment Briefs highlights the main findings of the 2012 Annual Employment Survey. Complimentary hard copies of the Briefs are available at the Department of Statistics, which is located on the third floor of the Cedar Park Centre Building, 48 Cedar Avenue in Hamilton.
The full Bermuda Job Market Employment Brief is below [PDF here]:
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1998 – 2008 5000 jobs created; 2009 – 2012 5000 jobs lost!
I’m hopeful for the stabilization, but the tide of outsourcing and amazon.com will continue.
Lots to be done. Hopefully we all can now see the need for us to be welcoming to IB, our tourists and new ideas for additional revenue streams.
Any recovery will begin with our attitudes.
If you cant find work in Bermuda get off your a** and look overseas. It will benefit you in the future when you have an advantage over the majority of job seekers(international experience. And you will get paid more
Very Valid point. There are also a lot a jobs that need to be filled here by Bermudians which are filled by expats.
What about the unemployed citizens in those overseas countries, would not want those overseas jobs going to expats..
We are citizens of the EU. We have the right to work in those countries
Citizens, really, so who did you vote for in the Lithuanian elections?
No one, stop distorting the point. YOU have the right to work in EU countries if you please.
That statement is true as long as you have a UK passport – if you don’t have one get one.
I think it be very useful to see the split between the number of workers paid both directly and indrectly by Government vs those paid by the private sector.
Note that the only job sector that is growing is …. the civil service.
That and the herb cultivating industry. BIG MONEY!
Liar
Loquatz is absolutely right. But don’t let facts get in the way of a good insult.
A reminder for us all … REALITY CHECK… it’s getting harder and harder to obtain sustainable employment for those who are in that loop of losing their JOB, due the economic slowdown. This comment is for “leave”… Not all of us have that luxury to jump ship and get of Dodge, leaving our family, home and life. My rebottle to your insensitive comment… YOU LEAVE.
Instead of focusing on rebottling, perhaps you should just finish the drink. Maybe then you wouldn’t be so fed up and would be able to spell rebuttal.
The job market is tight and it’s not easy to pack up, leave the country of your birth to find work – however, some forget that all expats working in Bermuda have had to do just that – leave their family, friends, home, for a job that they were “offered” so that they can continue to provide for themselves. So please stop and think about these things before attacking the expat/guest workers!
It’s a shame that opportunities available to locals are not being taken up – but all jobs, regardless of the colour of your collar – require hard work, good attitude, consistent attendance, education, qualifications and experience.
Well done to the OBA for being transparent with their figures on employment or lack thereof.
The OBA is revealing the TRUTH!
Good thing OBA is giving away those 2,000 jobs,,, Huh?
the rest of the world is open for business get off your hinies pack a bag and take an adventure to a better life we cant do it all in 20 square miles!
It is dissappointing that in an attempt to justify hiring “another political appointment”
the Minister sees fit to undermine Mrs.Wade. There is no doubt that Mrs Jackson’s has been a fierst advocate for health & seniors issues, however Mrs Wade’s expertise is by far greater, with over 25 years experience in health care, long term care and a masters degree and post graduate studies in healthcare.
It was clarified last year by Ministers Blakney and Desilva that Mrs Wade was a full time consultant for two ministries, therefore her payment does not “PALE” to what Mrs. Jackson’s $5000.
What are Mrs. ,Jackson’s “specific responsibilites or requirements” and is she full time????