Working Population, Unemployment & Income
[Updated] The working population decreased from 35,530 to 34,612, the median gross annual income from main job climbed 9%, the employment rate decreased from 66% to 64% while the unemployment rate dropped from 7% to 6%, and the economically inactive population rose 6% from 15,428 to 16,389.
These statistics were contained in the May 2018 Labour Force Survey Report from the Department of Statistics, which was released today.
Chart #1 extracted from the report:
Minister for the Cabinet Office, Walton Brown, said, “The Report contains selected indicators of the labour force and economically inactive population. These indicators are compared to the 2016 Census of Population and Housing, to Labour Force Survey Reports dating back to 2014 and the 2013 Household Expenditure Survey.”
Chart #2 extracted from the report:
Highlights from the report include:
- The labour force declined 2% from 38,155 to 36,646.
- The labour force participation rate declined by three percentage points from 83% to 80%.
- The working population decreased from 35,530 to 34,612.
- Total of 6,343 persons or 17% of the working population indicated they were underemployed in May 2018
- The average hours worked per week remained at 40.
- The median gross annual income from main job climbed 9% from $58,113 to $63,288.
- The employment rate decreased from 66% to 64%.
- Unemployment fell from 2,625 to 2,034 persons.
- The unemployment rate dropped from 7% to 6%.
- The unemployment rate for Bermudians fell from 8% to 6%.
- The unemployment rate for persons under 25 years declined from 23% to 18%.
- The economically inactive population rose 6% from 15,428 to 16,389.
Update Nov 29: Thhe Department of Statistics issued a revised Labour Force Survey Report, noting that the labour force declined 4% from 38,155 to 36,646.
The Director of Statistics, Melinda Williams explained, “The public should note that the revised Labour Force Survey Report May 2018 amends the error or 2% decline to reflect a corrected figure of a 4% decline in the labour force between 2016 and 2018. However, the labour force figures of 38,155 in 2016 and 36,646 in 2018 were accurate and unaffected by the percentage difference.”
“The Department apologised for any inconvenience caused by the initial Report,” the Government added.
The Labour Force Survey Report follows below [PDF here]:
so far so good
but : where are the 2017 figures ?
is there anything to hide ?
Having a declining labor force (2% less jobs) and less labor force participation (down 3%) on top of an increasing dependency population (up 6%) is not ‘so far, so good.’ Also, having nearly 1 in 5 state that they are currently ‘underemployed’ also isn’t good news.
But interesting point about not comparing to the 2017 survey. Was one done?
Hey…don’t knock it as it is very good for whites. Their unemployment rate is 2%. In other words statistically they have full employment once again.
In fact their are over 1519 black people unemployed compared to just over 269 for whites.
But of course i suspect that most of you just look right past those egregious numbers right?
Well fix public education then. I guess WiFi didn’t do the trick? Keep drinking de titty milk!! Ha ha ha!!
There is always the option to stop playing the victim, to get your s**t together and do what you need to do to better yourself. Personally I got tired of 4 years of not having a consistent pay check coming in. I got my s**t together and within a year I reached a position 99.9% of this islands population could never hold.
You don’t want a job. You want a pay check.
I could be like you and say I only make enough to survive, but I’m happy. That’s the difference. I’m happy and the only way forward for me is up.
What are you really doing with your life?
Burt will make sure each and every one of those people is employed as a CEO in the fintech industry. Problem solved.
There are very few unemployed black women. The black unemployed people are almost all men.
So it’s nothing to do with lack of opportunity based on race.
teach me
what is the racial ratio in the CS ?
The answer to your question is contained in the report.
Lol ! Where’s the 2017 stats !
No data for 2017. The unemployment rate has decreased by 2%, but the labour participation rate has decreased by 3% (people who have given up looking for work). Nothing to be proud of at all, but I’m sure that won’t stop a few from blowing their horns
Who are the ‘economically inactive’ population? It was 40% of 2015 and 45% of 2016 of the working population and could still be rising. Are they a cost government/tax payers?
just some thoughts …
kind
just some thoughts …
kind 2016 2018 diff
work.population 35,530 34,612 – 910
unemployed 2,625 2,034 – 591
non Bermudian in work 9,225 4,051 – 5,174
non self employed persons 2018 ( unfortunately no previous numbers available )
total 39,272
thereof Government and Quango 7,060 = 24,11 percent !
wonder how high that percantge was in 2016 ….
One in four on the Government payroll. WOW just WOW!
That is a number that should strike fear into everyone. It is absolutely unsustainable. A growing public sector that is already 25% of the working population, and a falling private sector. PLP where are you to explain what you are doing, as opposed to talking about, to protect Bermudians, because they are the ones who will suffer.
sorry typo
“total 39,272″
should read Total 29,272
With the number of jobs shrinking by 918, it’s a good thing we have the 70+ Fintech jobs our Premier brought to Bermuda!
At least he did that! No jobs under the OBA!!!!
So no jobs were created at the various major construction p[projects which the external rating agencies referenced while giving their optimistic view on the island’s economy earlier this year? The same report the PLP shamelessly tried to take credit for. Let me know if you need me to provide a link to the document in question. For ease of reference I will point out the actual quotes.
In 2012 alone the PLP Government oversaw the loss of 2,000 jobs whilst running $400mn deficits. Now lets see if you are ready to debate actual facts and figures. I dare you.
In Table 2 it notes that non-Bermudian workers declined by over 5 or almost 60% thousand since 2016.
That doesn’t seem right at all.
The numbers in that Table make no sense, unless around 4,000 PRC and spouses of Bermudians obtained Bermuda status. Otherwise where did 4,000 Bermudians suddenly appear from?
It appears that either the stats were being massaged to be misleading or there is no form of quality assurance checks being conducted on the stats prior to publication.
Either way it does not reflect well on the DOS.
they left the island …………..
Bermudians first