Labour Force Survey: 9% Unemployment Rate
[Updated with video] According to the 2014 Labour Force Survey released today [Jan 9], the unemployment rate was measured at 9% and the workforce shrunk by 511 workers in 2014.
The 9% unemployment rate in 2014 compares to a 7% unemployment rate in 2013, an 8% unemployment rate in 2012, and a 6% unemployment rate in 2010.
Chart #1 extracted from the report:
The report said, “The workforce shrunk by 511 workers in 2014, from the 35,989 reported in 2013 to 35,478 in 2014. The overall decline in jobs was nearly split between males and females. Female workers recorded a decline of 257 jobs, while male workers accounted for 254 lost positions from the previous year.”
“Job gains were reported among Bermudians, spouses of Bermudians and permanent resident certificate holders. Spouses of Bermudians posted an increase of 13% or 216 positions in 2014. Compared to the 1,668 positions reported in the previous year, non-Bermudian spouses reported 1,884 in 2014.
Chart #2 extracted from the report:
“Bermudian workers tallied 157 additional jobs from the 27,309 positions reported in 2013. Jobs held by permanent resident certificate holders increased by 143 jobs in 2014.
“In contrast, there was a 19% decline in the number of other nonBermudian workers with 1,027 jobs lost in 2014. Contract workers reported 4,416 jobs in 2014 compared to the 5,443 jobs that were reported in 2013.
“Fifty-six per cent of the unemployed were males. The unemployment rate for males was 10%, as 1,949 men were looking for work. The jobless rate among women was 8% with 1,537 females looking for work.
“Some 3,214 Bermudians were without employment in 2014, a 92% share of the total while persons of black racial heritage represented 2,547 job seekers or 12% compared to 468 whites with 4% unemployment.
Minister Bob Richards’s full statement follows below:
1. It is clear from media reports that certain parts of the results of this survey have already been leaked to the press and an implication has been made that these results have been deliberately suppressed because the employment numbers are not good.
2. This is absolutely false. And you will see why as I proceed through this presentation.
3. The report that I heard on TV claimed that the methodology used for 2014 and 2013 were the same. That also is false. The sample sizes for the two surveys were different and that difference caused the Ministry of Finance to conduct a further validation exercise using data from the Tax Commissioner’s Office.
4. Let me first emphasize what this report is not, and what it in fact is.
- a. What this report is not – It is not the result of counting every employed or unemployed person in Bermuda.
- b. What it is – It is a STATISTICAL SURVEY, meaning that it is an ESTIMATE by way of sampling. This means that it is subject to a sampling error. That error is disclosed at the bottom of page 9, and it is +/- 2.5%. That means that the actual number being estimated could be bigger by 2.5% or smaller by 2.5% than the number reported. With this methodology we can’t be any more accurate than that.
5. With this knowledge and perspective let us look at some of the numbers summarized on the sheet I have passed out. These numbers are taken straight from the report. The changes (deltas) in the two headline numbers, Labour Force and the Number of People Employed from 2013 to 2014 are well within the sampling error of +/- 2.5%. That means there has been no statistically significant change in the labour force of the number of people employed year over year. So you cannot and should not conclude from these numbers that there has been a big drop in employment.
6. For the sake of clarity, let me emphasize that I am not saying that the loss of 511 jobs is not significant to this government. What I’m saying is that we cannot hang our hats on the accuracy of that number because of inherent sampling error.
7. The Unemployment number here has gone up by 35% but this is based on the math of small numbers.
8. Median income declining by 2.66% is statistically significant, only just. Payroll tax figures do not corroborate an income decline.
9. The other changes to Working Population, Males working, Females working and Bermudians working are all statistically insignificant. You cannot and should not draw conclusions from them.
10. Changes in the black working population and white population are indeed significant and are something of note.
11. Let me be clear, I am not criticizing the Statistics Department or their work. They know about sampling errors and have professionally stated what they are in their report. People often don’t pay attention to that. They think its fine print, but you have to pay attention to fine print. So readers of their survey reports should be clear about how to interpret their results and be careful not to draw conclusions that are invalid.
12. As I mentioned, one of the reasons for the delay was that we cross checked this report with data from the Tax Commissioner.
- a. This data as at 9/30/14, indicates there has indeed been some weakness in job markets.
- b. The weakest sectors being construction, hotels/restaurants/bars/ nightclubs and banks.
- c. The weakness in construction is a reflection of the completion of the Acute Care Wing of KEMH.
- d. The weakness in the other two sectors is also well known and is being addressed by the government.
13. Another source of data is the Department of Workforce Development (DWD). Clients of Financial Assistance are obliged to register with the DWD. There are 540 of these individuals. DWD has 2,178 people registered as unemployed/underemployed. This amounts to 6.1% of the workforce. Of course this omits folk who are unemployed but do not register with DWD. Unemployment measures those who are out of work and are seeking work. Why a person who is seeking work would not register with DWD is an open question, but according to these figures, there are 1,308 such people.
14. One more thing, and that is this survey was conducted 8 months ago and even if the year over year changes in the numbers were statistically significant one has to take into account the passage of time.
15. The last point I would like to make on employment statistics is that it is well known that jobs are, what economists call, a lagging indicator. This means that the positive movement in job numbers usually comes well after the other key economic indicators have already shown that the recovery is well under way. There are good business reasons for this. It happens in economies around the world and I would expect it applies to Bermuda as well.
16. However, since May/June 2014 or even 9/2014 a number of important positive developments have taken place.
17. The latest data from the Tax Commissioner’s office show that 400 jobs have been created since the inception of our tax holiday for New Bermudian Hires. So this tax initiative has had a positive effect on the job market during a critical period of weakness. Of course, this was its objective.
18. Our other initiative that targeted the real estate market has also yielded positive results with the recent report from Coldwell Banker that the property market has stabilized after having been in free fall when OBA became the government in 12/2012.
19. Weakness in the job market has already been well documented and was fully established before the OBA was elected to government. However, a number of other initiatives by this government, or those encouraged by us, have been brought to bear to improve the situation, many of them since May/June 2014 – the date of this survey, for example:
- a. New Pink Beach
- b. The next phase of Hamilton Princess refurbishment
- c. New St. Regis in St. George’s
- d. South Beach (Sinky Bay) project
- e. Ariel Sands redevelopment
- f. New Ritz Reserve at Morgan’s Point
- g. New airport terminal
- h. Last, but not least, America’s Cup and the preparations for it.
20. We have already seen evidence of the impending upswing with building permits for 2014 totaling 877 versus 701 for 2013.
21. So, to conclude, the evidence of the survey showed no statistically significant erosion in job markets, although other data shows employment remained weak for the first part of the year 2014. This government places very high value on the dignity of honest work and deep concern for those unsuccessfully seeking a job is driving us to continue to work tirelessly to improve the situation. I am encouraged that evidence shows that the government’s efforts to turn things around are working even though many of the major projects have not yet kicked in, but when they do there will be a major surge in job opportunities for Bermudians.
-
The full 2014 Labour Force Survey follows below [PDF here]:
Update 5.10pm: Shadow Finance Minister David Burt said, “The figures released today crystallize the fact that the Bermudian job crisis is getting worse under the OBA. I will comment more next week when I have a chance to fully digest the numbers which were just released, however the headline figures are truly sobering.
“There were 511 less people working in 2014 than in 2013 a figure that pours cold water on the OBA’s continued talk of recovery.
“The figures show that there were 3,486 people recorded as unemployed, the highest number of people unemployed ever recorded!
“Finally, the figures show that under the OBA, Bermuda is experiencing record unemployment as the unemployment rate of 9% is higher than the 8% recorded in 2012.
“The headline numbers speak for themselves; falling jobs, record numbers of unemployed and the highest unemployment rate ever recorded. This report makes it clear that the trickle down policies of the OBA are not working; they have caused further job losses and record unemployment.
What Bermuda needs is a more diversified economy and a government who is looking to build an economy with ideas for the future, not a government focused on ideas from the past.”
Update 10.19pm: Video of Minister Richards added below.
But the OBA continues to espouse that everything is getting better! With a net loss of 511 jobs last year, how can that be? the unemployment rate has gone up to 9%.
How is Mr. Richards rationalizing this?
Go read Paula Cox’s throne speeches from her time at the helm! There you will find empty promises!!!
I believe Paula said there was no unemployment and green shoots in the economy while we were going down the drain….and did the PLP EVER reveal unemployment statistics?
@navin, they didn’t need too, as long as they ( plp ) told their SHEEPLE everything was just fine, Infact as you said ” green shoots ” they took it hook line and sinker??? Silly bunch they are??? Also it did not go unnoticed by me, the first 4 comments were by these same imbeciles, just waiting to jump all over these figures!! Alaska hall was probably passing around their special tea and brownies, that’s all it takes for them to post their nonsense???? They never took the time to mention that these ESTIMATES are 8 months old??? Gee, what a surprise!!!!!!
So can you speak to the actual numbers released? It’s now been over two years.
Sure can, being 90% of Bermudians drool over Obama, and it is safe to say you are one of them, it took Obama SIX years to turn the U.S economy around, so why do you think the OBA can clean up your plp mess in two years??? I will wait for your answer???
You mean the economy your beloved man child Bush wrecked. The fact you’re anti-Obama speaks to your lack of good judgement and, in turn, you have NO credibility. Why don’t you just go back to America where you can really live out your ultra right winged neo conservative fantasies? Is so obvious you’re not a Bermudian.
I am more BERMUDIAN than you chump!!! And yes I am no fan of odrama, but let’s not forget, it took him printing $85 BILLION a year for six yrs to get the economy to the point that he can lie and say it is doing fine, ( I happen to know better ) when things collapse later this year, why don’t you do the HONOURABLE thing and acknowledge the fact that I told you it would happen!!! ODramas reckless policies will fail big time this year just as your plp’s did!!! Also if you were not still wiping the mucas from behind your ears, you would be old enough to understand it was the CLINTON policies that cuased the meltdown, ( all Americans should own a home, whether they could afford it or not ) was the cause of the American economy downfall.!!!
I honestly think that you have a problem with anything that’s black or green, Kangoocar!!!
Sorry to disappoint you but, I don’t have a problem with any colour, what’s right and what’s wrong is all I am concerned about!!! Why is it, that in Bermuda race comes into just about everything?? I travell every two months going to either the U.S. or Europe and talk to a lot of people overseas ( more than I do locally) and NEVER does race get talked about???
Go home kangoocar… You represent what real bermudians hate about a certain segment of this island. You’re the poster child for the reason the OBA needed deceit to win the last election. And I’m sure you’ll be rooting for every measure they take to facilitate the creation of new Bermu… I mean status holders in order to win the next election.
Stay crazy kangoocar! Last least it’s entertaining!
What “real Bermudians hate about a cerain segment”?
Racist hate speech.
Ian, I’m afraid you have it WAY wrong…what REAL Bermudians hate is YOU and your ilk that spew your ignorance to all things sensible. FFS just go away already…
Typo : $85 Billion a MONTH was spent trying to turn the U.S. economy around
You forgot to say George Bush Jr — he was the real screw up!
He simply let his vice President and his secretary for War rule and
ruin his Presidency.
Our problems started with ex Premier Jennifer Smith then to DB.– uncontrolled spending , harsh Policys against foreign business
and lack of economic vision.
inna–grow up!speak on topic, Paula been out, so childish to make such comparison, this is a brand new party who made their own promises they will be held accountable for no mater what happened under Paulas regime!
So the OBA inherited 3,000 + unemployed from the PLP.
OBA inherited 3,000+ unemployed thanks to businesses who have downsized and transferred jobs to other countries. What makes you think government can fix the unemployment rate to begin with? Government cannot tell a company not to downsize or not to transfer jobs outside of Bermuda. Our government doesn’t control markets. We live more so in capitalist society and these companies are out for profit and not for the sake of Bermuda and Bermudians.
Businesses can choose who they want to hire and who they want to make redundant and we just have to suck it up and live with it. The only thing our government can do is make Bermuda more appealing for investors and that’s not a magic fix or a guarantee of anything.
“The only thing our Government can do is make Bermuda more appealing for investors” Excluding……..Racist rhetoric…….Arrogance……..unfriendly immigration policies……..Tax hikes, due to the mismanagement of the public purse………
How can I believe in a OBA Government with my money when I here crazy stories that your thinking about placing Craig Cannonier who I might add resigned as Premier after the Jet Gate Scandal back as a Minister. Former OBA Chairman and good guy Mr. Thad Hollis must be really flipping out with this one now.
Is this true Premier Dunkley?
Seriously??? Where was your outrage when Walter Roban came back after resigning???? Hypocrites!!
If the Opposition didn’t cry for this I wonder if we would’ve seen it.
So you bought the quick preemptive strick hook line and sinker
Unemployment Between 7.5% and 11.5%
. What it is – It is a STATISTICAL SURVEY, meaning that it is an ESTIMATE by way of sampling. This means that it is subject to a sampling error. That error is disclosed at the bottom of page 9, and it is +/- 2.5%. That means that the actual number being estimated could be bigger by 2.5% or smaller by 2.5% than the number reported. With this methodology we can’t be any more accurate than that.
The sample size could be increased to reduce the margin of error. I think in these times it would be wise that we have tighter estimates on the health of the economy.
Ride
I think we should have actual unemployed, not stupid sample surveys. If in the sample picked a majority are unemployed , it does not refelct the whole island. All it takes is for one unscrupulous person to call people they know are unemployed to come up with garbage results.
Stop paying money for guess work, get actual please. Registered unemployed and available for work please.
The thing I find most interesting is that of the unemployed only 60% have indicated their age. Of these 50% of the responders are aged 16 to 25. It is possible to be 16-22 (and older) and actually be a student even though you could be searching for a job at the same time. The good news is that because of the high numbers in this youth segment there are likely to be fewer families with mouths to feed impacted by unemployment in Bermuda.
Interesting point. Does that mean that this survey was done in working hours or in the evening post 7pm ? If in working hours then surely many failed respondents would be at work, and a greater chance that respondents who were called were not working.
Don’t blame me. I did not trust the OBA; they stared from “the lying plan” found a surrogate to use, abuse and disgard for the the mighty one….
Moral of the story:
Never trust the UBP/OBA
Never Never Never
@trust not, and you trusted and still trust the very plp that put us in this MESS???? Man, you can’t fix stupid?????
They will never get it Ray
So you think we would be fine right now if the UBP/OBA were in power over the last 16 years?
We’d have a lot less unemployment. We’d have less debt. We wouldn’t have the Grand Atlantic.
Oh yeah? So despite the growing evidence job losses in Bermuda [post OBA taking power] clearly are the result of REAL WORLD, BIGGER WORLD dynamics you can still sit there and willingly look foolish making those sorts of guarantees?
Did the “real world” force us to biuld Grand Atlantic? Force us to spend $100m a year on consultants? Force Cox to increase Payroll Tax for one disastrous year?
Oh yeeeaaah….Grand Atlantic and consultants… Oh and a 1yr increase in Payroll… Thats why job losses in IB and other sectors persist to this day… Time for medication Cream for brains!
The Payroll Tax increase was avbig cause of the exodus. Obviously you’re out of the loop, Ian.
@ Creamy
Exactly!!! Crickets…..
Funny how when the local economy was booming it was down to the PLP, despite the fact that they inherited a growing and booming economy. However when the wheels fell off it was because of the ‘Real World Economy’ issues.
While what Ian says is obviously correct and cannot be denied especially during the latter years of the PLP’s tenure. However the PLP and their fan base still wont take ownership of the idiotic policy’s,(mis) management and the wanton waste of much needed $$$$, none of which was caused by the ‘Real World’ economic woes!
You forgot Creamy, we wouldn’t have Paula Cox, we wouldn’t have Dr. Brown, we wouldn’t have Col. Burch.
Oh! we would be fine and dandy.
But trust the PLP, the party that gave us $2B debt, the Port Royal Golf Course scandal, Dockyard, BLDC/Rev. Bean, Whites Island free lease, 2 x 4 = 262 year Hamilton lease, Tuckers Point SDO, Berkeley, Dame Lois Bldg., I had to deceive you, Uighurs, racist dog, Beyonce, massive unemployment, mortgage foreclosures, TCD, Global Hue, Faith Based non-tourism, oversized Cabinet cars, endless expensive Cabinet travel, unbalanced budgets, thousands more civil servant jobs in working in thousands of sq. ft. expensive Hamilton office buildings, BPS/Veritas Place, friends & family plnas galore, a 90 bed hospital costing $2.5/month in rent, the missing $800M….the list is almost endless..
During Global Hue’s tenure we saw the highest number of air arrivals in almost 20 years. Was something wrong with that?
Funny how Cox ditched them as soon as you were gone. All that talk about “resetting the dial”. The damage had been done though hadn’t it.
Hey Creamy, try using your real name when responding to people that use theirs. You only spew half the crap you do because so very safe behind your silly alias.
So Ian’s your real name. Riiight.
Ad hominem attacks are what you lot do when you lose the argument on merit, isn’t it.
The Platinum Period…LOL What a joke.
What % were tourists ????
I’d trust a crack head before I trust the OBA sheep.
Perhaps if that $800,000,000 that went missing during the PLP’s, reign could be found, the economy would be in better shape?
Ever wonder why its so hard to find?
It must be because the auditor general just made it all up!! You’re a complete moron….
“1949 men were looking for work”.
Must have called the wall sitters.
I need a rum as to how this survey was gathered.
“In contrast, there was a 19% decline in the number of other nonBermudian workers with 1,027 jobs lost in 2014. Contract workers reported 4,416 jobs in 2014 compared to the 5,443 jobs that were reported in 2013.
Hospital finished and the workers have gone home.
“Bermudian workers tallied 157 additional jobs from the 27,309 positions reported in 2013″
So Bermudians are getting back to work.
Where are all the OBA lap dogs who swear that the OBA is doing so great and complained nonstop about the PLP? It’s getting worse each year.
This survey was conducted in May 2014.
Prior to the announcements of:
- Americas cup
- the numerous hotel redevelopments
- the new work permit policies being implemented
- legalisation of casino gambling
- airport redevelopment
And if you read the report it states that Bermudians, spouses of Bermudians and PRCs all increased in terms of jobs and employment. Meaning that the vat majority of job losses are from expats. You know the people that you guys hate and want off on our shores. Thought you would be happy about that.
Okay so you come back and talk when all that is over and/or actually completed so we can get the numbers on employment and who that event really benefited. For now let’s talk about the unemployment rate increasing every single year under the great OBA. You’re a joke if you believe such nonsense and not once did I state that I hate expats but keep stereotyping thousands of people and looking like a fool in the process.
Do you really think the figures would have been better under a PLP government?
How many jobs were lost in their final year of governance?
Considering these numbers will not have been impacted by many of the recent policies, the AC plus the hospital completion which will have seen many temporary workers leave, they could and probably should have been a lot worse.
Finding the trend would be useful.
1. Where did I say that?
2. I don’t know, maybe the OBA lovers/PLP haters can tell me.
You all can spin until your heads pop off but there is no dancing around the truth in these numbers up top. Simple.
You didn’t say it. That’s why I asked.
If you truly believe the PLP can do better then vote for them. If you don’t then don’t.
I personally don’t. Either employment would be down further or our debts would be escalating faster due to white elephant projects that skew employment figures but cost a fortune.
How about we stick to the facts. The OBA promised jobs and it looks like the numbers say otherwise. If this were the PLP you wouldn’t be giving them any benefit of the doubt and saying, “Do you think the OBA would do better?”
Don’t assume who I have voted for or who I would and would not vote for in the future. The OBA is the ruling party and I will hold them accountable. Stick to the present day and what we actually know and not possibilities if another party was in or hypotheticals. You are doing too much spinning.
The promise of 2,000 jobs was made before the OBA were in power. They had no way of knowing just how bad it was and frankly even once they did gain power the state of the records they had was deplorable…probably purposely.
Do you recall some of the PLP promises? Free education at the College? Free day care? Free stuff! Some of those promises were kept for a few months, others not.
The FACT is that 5,000 jobs have been lost. 500 of them were lost under the OBA.
And what about the 15 people who lost their jobs at AA last week? What about the 12 people (all Bermudians) who lost their jobs at Marsh shortly before Christmas? That was AFTER May 2014. Clearly we are still seeing a downward trend here. As for the projects you’ve listed, if the way the America’s Cup jobs are being recruited is any indication of hiring practices in these areas – well,so much for increasing employment for Bermudians.
Ok folks–let ‘er go…
Spin this away–spin spin spin–
Gentle reality check so we all don’t get too dizzy as we spin—
It took many years of economic deterioration for Bermuda to get into its current situation–two years of new policy direction will not erase years of economic and policy weakness–especially in the face of sputtering global economic recovery.
Bermuda is on the right track, but it will take time. Work hard to make it happen–don’t stand in the way.
But let the spin begin—fasten your seatbelts!
Hmm to quote Rex Stout “There are two kinds of statistics, the kind you look up and the kind you make up”
On the understanding that the 2015 survey will be done this April based on this survey being done in April 2014, I don’t think we should expect the 2015 figures to show a sudden turnaround as a result of the announced projects. It’s too soon. However the 2016 survey should (and had better) show statistically significant results.
The only way to get a really accurate number on exactly how many are unemployed is to conduct a census where every member of every household MUST participate and answer honestly . ( NO running away and not answering the door or lying about income and home ownership like what always happens . )
And that would include answering the question ‘Are you a wall sitter , have you ever worked and do you ever intend to work ?’
Still , I believe that the numbers would be even higher than what we are being told here .
Based on the margin of error the actual numbers could be 6.5% under the OBA in 2014 and 10.5% under the PLP in 2012… I’m sure that’s how the PLP would spin it if it was the other way around.
Not sure what the big deal is here. It took several years for PLP to completely ruin Bermuda, it could take a similar time for OBA to turn things around.
One thing is for sure, if PLP were still in – we’d be MUCH worse off. 20% – 30% jobless by now. Maybe more.
I’m suprized the opposition have not made a press release yet. on this – and why is the PLP Leadership so laid back these days.
The results here may be a bit misleading – the survey should have went back to 1999 – we would have seen the real picture.
If it reaches 11% and shows no decline then this could spell trouble for the running Political party.
The former Government created an exodus of IB workers that coupled with the Financial crash of 2008 created the mess Bermuda found itself in. TERM LIMITS were very harmful and totally unfriendly. CEO’s of Multi National Corporations and Reinsurance took offence to the rhetoric “We don’t care what you people think”. Many a company quietly re position jobs to friendlier climes, and if anyone doesn’t think that has been the case, then you are blind.
The farce of it all is that (PLP policies) hurt Bermudians worse. The loss of Bermudian jobs, the loss of rental incomes to Bermudians from the exiting IB workers, the loss of school enrollment, restaurant revenues, drycleaners, supermarkets et al…..
David Burt has the audacity to finger point, when it is the OBA that are picking up the pieces of the wreckage created by the PLP. It is ironic that a labor government in power for 14 years hurt Bermudian workers like no government in Bermuda’s history. The OBA should be commended for rebuilding tourism, repealing TERM LIMITS and looking for ways to reignite the economic engine of Bermuda.
Job Losses 2009-2013
Source: Quarterly Bulletin of Statistics
Year Employed Loss
2009 39,520
2010 38,097 -1,423
2011 37,399 -698
2012 35,443 -1,956
2013 34,277 -1,166
Total Losses -5,243
Burt is worried about a loss of 511 jobs in 2014 with a 4,077 loss from 2009 to 2012 on PLP watch? The carry over into 2013 was all a result of PLP policy. At least the numbers are now reversing….
This is higher than the US rate and instead of
trying to diminish the number, the
Government should be talking about diminishing
the number of people unemployed…spin it anyway u
want number speaks for itself, it is not 5% or $10%,
it is what is! It should be zero percent,
because everyday I see jobs advertised that
Bermudians could get. My guess is intl companies
are shrinking their workforce in the global
economy, and Bermudians are increasingly finding
themselves unemployable versus expats from
emerging world who are kind and can do employees who r willing to take less $$$.
Sorry there just is no room for ‘I don’t work
weekends or holidays’, or the cashiers that
refuse to say hello and thank you
to customers, and rudely carry on chats with others while u r right in front of them, telling their business all over the place
or the prickly admins who refuse
to step and take on work, or the sales guy at
a certain bike shop who would not look up
from social media when a customer walked in
with $$$ to spend … or the phone answerers
that prefer to tell you what they can’t do and
how they can’t help you (when I call a company I pray
I get a guy as they are always super helpful, stores
should hire more of our men, done with women with attitude.) But you get the picture, make yourself employable and do anything to get
on the ladder….
lol,
oba getting it done.
how many years left in this joke of a gov????
@ obasellouts
Hopefully for Bermuda about 30 yrs
This is only a survey……Are they full-time jobs, part-time or casual..Perhaps the Tax Office can determine the number of employees deleted during 2014 and the number added to the employment tax register…Far more accurate
If the former PLP government ruin Bermuda? I would have expected a rush for the proverbial door by Bermuda’s status seeking migrant workers; instead what we see is a clamouring on their part to claim a right to stay in Bermuda; assisted greatly by the anti-Bermudian policies of this government. Meanwhile on the other side of the shoe; the fate of Bermudians; there is an increased desperation to leave their homeland even if only to become an economic refugee in another man’s country England. All of which must be a god sent to this government; who don’t have to count them thus making this labour force survey even worst. ‘Who feels it knows it’-Bob Marley- Something that has escape the mindset of this government’s finance minister;’ It’s not too bad it’s only numbers which could be higher or lower; the fact that this involves the economic dislocation of thousands of Bermudians and their families is an after thought to this government. No matter how they twist and turn and claim that they are tie to the policies of the former PLP government; this new economic reality is happening on their watch.
You seem to forget something Alvin, this is little England to many Brits that have lived here for decades.
When they took down the Union Jack from the flag pole on front street, many Brits were saddened, similar to when the Argentinians took down the Union Jack in the Falklands before the invasion.
Listen up Bermuda…
OBA is following PLP down the same sewer line…and we know where we will end up don’t we….in the (money) pit!
Bermuda still borrowing $260 mil per year, ad infinitum, ad nauseum! $260 mil per year people!We are on the road to perdition! Country will run out of money by March 31, 2016! OBA will have to borrow big time next year to keep country afloat…country will owe $3.5 bill plus by April of 2016!
A loaf of bread costs $7 today….after we pass the $4 billion debt mark in 2018 a loaf of bread will cost BMD$14.00 and the currency will need to be devalued which will send Electricity bills soaring! Re-insurance business is collapsing….like most of the other 16 categories of business/industry they simply have too much capital. Next year will see many white-collar educated Bermudians unemployed.
OBA better not build that airport….It will sink the island’s economy to build it at this time. We do not need to take on more debt…it is unsustainable. The PPP is a form of debt finance….a sale and lease-back, and a lease is a form of debt! Rather we need to think counter cyclically and counter intuitively to restructure our economy:
*Slow the economy down by cutting government employees by 800 to 1,000 people over the next 3 years – 200 to 300 people per year.
*Reduce the pension and health care benefits of the remaining government employees by 8%.
*Put together plans to rebuild the causeway – with the same style design as the original – in the same footings – section by section over the next 5 years. Like wise for the arrivals section of the airport…using local contractor and engineers/architects to maximise local job creation.
*Rapidly increase adoption of Cambridge FULL curriculum in govt schools and move all curriculum down by one grade. P1 would start with P2 curriculum and so forth to speed learning outcomes. Public schools teaching too SLOWLY and too passively! This holds back job preparation of Bermuda lowest income strata.
9% unemployment rate is unacceptable! But…..with 70% of all nurses are non-Bermudians, 80% of all pharmacists are non-Bermudians, 60% of all policemen are non-Bermudians, 90% of all Chefs are non-Bermudians.
Meanwhile 100% of all taxi drivers and bus drivers are Bermudians…..hmmmmmm it don’t take a rocket scientist to recognise a lack of ambition on the part of Bermuda’s working class population. Wake your lazy children up….make them miss a meal and do some home work to prepare for a better future!
The Taxi drivers?….. 60% are snobs for the lack of a better word, a retirement recluse, for 70 and 80 year old’s that refuse to retire, and that are incapable of lifting a bag into a cab. Government needs to clamp down on individuals that use the taxi license as a retirement home.
Whats really happening b.d.a ? Those are not up to date status if u believed that than u will fall for anything lol its 2015 now hello
If the stats were good and going in the opposite direction, the Minister would be praising the Dept of Stats for their fine work and taking the credit. I always find it interesting when I read the blame game on the previous administration how the financial crash (we are a financial center right?) is given minimum to practically zero contribution towards Bermuda’s situation. Also conveniently missed is that the crash largely created these deficits with decreased tourism and IB’s repositioning. Borrowing was necessary and could not be avoided. This is rarely addressed. If the OBA were as astute as they claim to be, they would not have made the promises that they did regarding job numbers and should accept that responsibility as well. Someone mentioned Obama. I do not recall ever hearing him continue to blame Bush or others. He kept it moving forward. If we are to move forward as a country we have to keep it moving forward. All of this name calling and blaming gets us nowhere.
Can you imagine how many people would be out of work if the PLP were still in power?