Total Filled Jobs In Bermuda Decreased By 802
[Updated] The Department of Statistics released the 2015 edition of the Bermuda Job Market Employment Briefs, which highlights the main findings of the 2014 Annual Employment Survey.
The report said, “The Bermuda job market continued its downward trend in 2014 as total filled jobs fell by 802 or 2%. There were 34,277 jobs counted in 2013 compared with 33,475 in 2014.”
Chart extracted from the report
The number of Bermudian job holders fell from 24,504 in 2013 to 23,833 in 2014, a loss of 671 jobs. The number of jobs held by other non-Bermudians — excluding non-Bermudian spouses of Bermudians and Permanent Resident Certificate [PRC] Holders — declined by 122 between 2013 and 2014. Among non-Bermudian Spouses of Bermudians there were 13 fewer positions in 2014, while PRC holders increased by four jobs.
Other Highlights of Employment Activity:
- Total filled jobs fell to 33,475.
- Total filled jobs by Bermudians fell 3%.
- Financial Intermediation sector jobs decreased by 12%.
- International Business activity sector jobs increased by 4%.
- The median gross annual income for all job holders rose 5%.
Update 8.57pm: “Today’s statistics support the fact the BDA’s strategy to boost the international business sector is working,” said BDA CEO Ross Webber.
“Our focus has been on supporting established IB companies and encouraging new enterprises to choose our jurisdiction and invest in Bermuda.
“We’ve seen direct successes after targetted business development efforts in Canada and Latin America, as examples. It’s important to note that IB drives 80 percent of Bermuda’s economy—so we hope to see our work integrate more deeply into all areas of Bermuda’s job sector.”
The Bermuda Job Market Employment Briefs follows below [PDF here]:
Cue the PLP complainers – come on Bettttty and Mockugay. Tell us how much better things would be if the Pathetic Leeching Party was voted back in. Blame OBA while you are at it, and lets hear some negative stuff about America’s Cup just to round things off. And don’t forget to pull the race card and blame whites and call OBA anti Bermudian.
Will have to wait til next years report to see the first impact of america’s cup jobs…. Oracle has 150-ish people alone, Artemis will be moving as well. Oracle will be doing most of the admin and team support work for the rest of the teams though sadly (from a jobs perspective), nevertheless, huge boost for us already. I’m sure dockyard companies notice it a bit right away.
So we should count temporary jobs that will disappear in 2017? We need to look past the America’s Cup and really get this island moving.
Forget the PLP vs OBA. Let’s all unite and move this island forward.
If we’re not supposed to count the creation of “temporary” jobs does that mean we shouldn’t worry about the loss of construction jobs. After all, any construction job is “temporary” in the sense that it lasts until the current project/building is completed and then it’s on to the next one. That is, assuming there is a next one.
There are still other construction projects other than huge city buildings. Your point is not entirely accurate.
We know for a fact that after 2017 we will lose jobs directly associated with the America’s Cup.
OBA and PLP can not be blamed for this.
The people of Bermuda are to blame
What is worse? An OBA sycophant or a PLP supporter.
Grow a critical mind instead of following only that which is sold to you.
Please explain how anonymous blogging classifies someone as a sycophant. I notice that you label those that back the PLP as supporters, however you suggest that OBA backers only do so for self-serving reasons… If you want to offer constructive criticism, try to avoid inherent bias in your comments.
syc·o·phant
noun
a person who acts obsequiously toward someone important in order to gain advantage.
But I thought de For’nuz was stealin our jobs!
Bye what de heck bye!
Bermuda is in a depression; job losses, 30-40% loss in real estate values, forclosures, etc. Bob Stewart blames the poor people. It is a failure of leadership. Without a vision the people parish.
Quo Fata Ferunt
In any country where there is a shortage of real estate there is no decline in property value as they would have you believe, the only way to determine the true value of a home is build it your self.
The problem revolves around finance and money management etc.
Some people put the cart before the horse.
What are you driving these days.
How many unfilled jobs are out there…
International business increased
Local jobs decrease
What a shame.
You don’t think Bermudians are employed in international business then?
Give it time, as international increases, so to will local employment. You don’t stop a run away bus by stepping in front of it and expecting it to stop when it hits you
The percentage of jobs occupied by Bermudians has increased whilst the percentage held by expats has decreased – International Business jobs are not all “non-local” by any means. It is a shame that you think so.
Fantasy!
the government needs to get innovative and relax some restrictions. introduce online gaming, legalize marijuana with some restrictions. what is the harm in diversifying the economy. things are not improving by keeping the status quo.
Online gaming will not produce the revenues some might try to advertise it for. Primarily because we don’t tax income. Additionally, our financial controls and regulations that make us a premier business juristiction aren’t ideal for the majority of the online gaming industry; we also do not have the ideal infrastructure both in human resourcing and in technological access for what most of the industry would be looking for. While we might attract some, it is unlikely they wouldn’t be setting up much more than shell companies with little to no human resources.
For the legalization of marajuana, as much as I would like to see more progress towards this, the biggest hurdle I have to allowing its legal use is the inability to accurately conduct sobriety testing for it as relates to DUI. While it might take several drinks for most to find themselves unable to drive, in the vast majority, a single joint or even a few hits will do this. And we all know the far too lapse attitude too many have about DUI on this island, so the difficulty arises to the highly technical testing that would be required to carry out testing when determining if someone is DUI from marajuana, or if it just latent remnants from a high earlier in the day, the day before… even the week before. At least with alcohol there is the ability for road side testing. Decriminalization and further medical legalization should be allowed in the meantime.
Train a local to be the bta CEO and that will be one job given back to us. Hanbury post shoulda been temp and not long term. Sad that a foreigner can come and and rack up so much money with no intent to leave.
And how exactly do you hire someone senior for a “temp” job? The only way to do that is to literally throw money at them and pay far more than their permanent replacement can possibly receive.
How about you redraw the graph with BOTH axes starting at zero.
So starting at the year 0? Won’t see much activity til about 1609.
WOW – you must be non-Bermudian to have picked up how they’re pulling the wool over everyone’s eyes with that graph! I even missed it, and I don’t have the island to blame!
Everyone is talking like frustration is driving it all.
It is.
If the Americas cup was not coming what would you have to say about current and future happenings.
Think before you type.
Shalom.
To much DEBT to little GROWTH and too many unreasonable promises made by the previous Administration .
$170Million dollars in interest $50Million dollars for those who don’t want to work. Total $220Million BORROWING from other people there by increasing the DEBT.
The Government has to cut the spending and DOWN SIZE the Civil SERVICE
to get a balanced budget.
The economy will continue to go down with all the regulations and HIGH TAXES.
STOP THE ANTI-BUSINESS RHETORIC,as that’s where the Tax Dollars come from.
“You can lead a horse to the water but you can’t force it to drink.” That sums it up. Far too many want far too much for nothing
Sad yes but true!
Promises – Promises – Promises made in Dec 2012 by the current gov’t.
They had no clue and still don’t
Following is a statement made on some News that caught my ear. I’ll now apply it to them that honestly believe Bermudian’s are worse off under the present O.B.A. Government as oppose to us being lead by the Progressive Labour Party. “At the best, they’re misinformed. And, at the worse, lying.”
As many older Bermudians would say, (figuratively)when something is blatant, “it’s so obvious that even Lance Hayward could’ve see it!”
I agree with you in some regards, no one had a clue how terrible the government economic situation was….why do you suppose that is?
To help you out, ask why the PLP never legislated PATI…
To help you out with that question, consider the increase in paper shredder sales during 2011/12 lol
oba sucks
How does this jobs decrease number tie in to the population in 2014 — whether pop. increased or decreased, and by how many?
Why does it take until June 2015 to get data on 2014? Can we do something perhaps a little less precise and get it out quicker? That would be far more useful. Thanks for considering.
Plot your own course to prosperity …STOP relying on a job and the Govt the “save” you. Read “Rich Dad Poor Dad” …or better yet His latest book “Second Chance”. truthbda@gmail
Just imagine what such unemployment numbers and it’s ramifications for the citizens of America’ Canada and even England would have for the governments of these countries? Yet Bermudians are accuse of been xenophobia; having a hatred or fear of foreigners? You know what the reaction of the citizens of those countries would be. Yet Bermudians are expected to be patient; not to question the policies of this government; not to be suspicious that this is a government that talks about the economic recovery of Bermuda; but for the Bermudian there is a growing realization that recovery does not have them in mind; that we are on a road to seeks to create a Bermuda without the Bermudian.
Every country would be upset to see job losses. But NO OTHER country would separate the job losses out by nationality. JOBS ARE JOBS and EVERY JOB makes Bermuda wealthier. It isn’t xenophobia so much as a complete inability to understand simple economic truths!