“Bermuda Is Facing A Demographic Crisis”
“Bermuda is facing a demographic crisis” and “the prospect of Bermuda’s declining and aging population in the coming years raises critical concerns about GDP, employment, health care, retirement benefits, and social support services.”
This is from the Government’s position paper on ‘Addressing the Challenge of an Ageing Population in Bermuda’ which was released yesterday.
The paper noted that total filled jobs declined by over 7,700 from 2008 to 2020, and that our birth rate is declining and our population is aging, and said they “will work to develop a strategy to increase the working population in Bermuda by at least 8,418 individuals over the next five years.”
On a personal note, Bernews will point out the projected demographic challenges were extensively written about for many years by the late Larry Burchall.
Extracts from the position paper:
“One of the biggest contributors to the contraction in the labour force is Bermuda’s ageing population. Older residents are now becoming an expanding portion of the population at a rapid rate.
“It is predicted that Bermuda’s current working population will be unable to support the local economy in years to come.
“According to the Department of Statistics data, total filled jobs in 2008 was 40,213. More than 10 years later, and severely impacted by the pandemic job losses, total filled jobs in 2020 was 32,427. That is a loss of 7,786 persons or more than a 19% decline in the number of jobs filled since the peak.
“Given that the workforce will decline by approximately 500 persons per year over the next few years as a result of an ageing population, it can be assumed that, at a minimum they need to be replenished.
“The demographic challenge that lies on the horizon is that an increasing number of persons over the age of 65 who are no longer in the workforce are expected to live longer lives.
“Unfortunately, the number of new births is too low to replace those retirees in the workforce. Available indicators show that Bermuda is rapidly facing a decline and aging of its population directly impacting the size of its labor force.
“Government acknowledges that aggressive action needs to be taken to minimize the above implications of an ageing population. While the Government will continue to focus efforts on the Reemployment and National Youth Strategies with the aim of getting Bermudians back into the labour force, the Government will also aggressively implement other measures to increase the working population.
“Based on population projections, the increase in the working population required to realign Bermuda’s old age dependency ratio with the OECD average is estimated to be 8,418 individuals. The 8,418 represents a 25% increase in workers on the island, based upon a working population of 33,496 estimated in the most recent Labour Force Survey of November 2020.
“The Government will work to develop a strategy to increase the working population in Bermuda by at least 8,418 individuals over the next five years. This will equate to an average of 1,684 additional individuals per year [or a 5% annual increase] being added to the working population over the next 5 years.
“The Ministry is considering implementing strategic options in the following areas:
- A. Emigration – the retention and repatriation of able bodied Bermudians;
- B. Immigration – closing the gap between the demand and supply of labour;
- C. New Business Development- local and international business growth; and
- D. Labour Policy Change
“Bermuda’s challenge is clear. The prospect of Bermuda’s declining and aging population in the coming years raises critical concerns about GDP, employment, health care, retirement benefits, and social support services. Bermuda is facing a demographic crisis that requires strong, decisive leadership and urgent action to be taken.”
‘Addressing the Challenge of an Ageing Population in Bermuda’ follows below [PDF here]
Larry Burchall (RIP) in particular warned about this and the effects of Nanci. He was ignored, if not laughed at. That was many years ago.
The reduction in jobs from 40,213 in 2008 to 32,427 in 2020 was not due to the pandemic, but from the PLP’s actions on term limits.
Two factors that the PLP ignored and own, and cannot blame on the OBA for a change.
Precisely. Their own actions are now about to bite them.They couldn’t stand the foreign work force did their utmost to get rid of them and now this. Lets see how they turn this one around.
They can’t stand Bermudians who are gay either.
They (The majority of the electorate)just spent $500K ensuring that gay people are not welcome in Bermuda.
Who writes all this BS for the PLP resulting in conflicting op eds; Government flyers, and this Report? The PLP is the Government, with 30-6 seats, but have they ever taken responsibility as a Government? Look at this at the end of the article above:
Bermuda is facing a demographic crisis that requires strong, decisive leadership and urgent action to be taken. Where is “the Government will be taking strong, decisive leadership etc.? The PLP own this issue, electioneering won’t solve the problem, and they can’t blame the OBA as the OBA tried but the Premier and Hayward were the leaders in the demonstrations against what is now needed. The people who demonstrated, especially those who were pepper sprayed, must be very confused.
“The paper noted that total filled jobs declined by over 7,700 from 2008 to 2020″
Yes, and at least one-half of those jobs were professional positions. We did not lose 7,700 gardeners or wait staff! The jobs we lost created other jobs. This is not news.
“On a personal note, Bernews will point out the projected demographic challenges were extensively written about for many years by the late Larry Burchall.”
Yes they were. And whilst not everyone liked what Larry had to say, he said what he believed. He did not write for political purposes. He wanted the truth to be known.
And since 2020, probably another 2,000 jobs lost, with the S P closing, etc. The only group with safe jobs are civil servants, who do less and less and grow increasingly rude in their dealings with the public as time goes on.
The birthrate is low as we can’t afford to have children, if our living cost was better I’m sure people would be able to have 2-3 kids per family. Until then it’s going to continue to decrease. maybe if the pay was better more people would work but I’m not going to work my A off for 40-50 hours for less than $12. The government needs to take responsibility for its actions.
So they are now agreeing with the OBA and term limits.
Jokers couldn’t organize a piss up at dockies
Have the Government reinstated Term Limits. If not why not? Are they no longer a good policy?