2022 Bermuda Digest Of Statistics Released
Today, the Ministry of Economy and Labour released the Bermuda Digest of Statistics 2022 from the Department of Statistics.
A Government spokesperson said, “The Digest is structured into ten sections containing tables, analyses, quick facts and charts for each. With over 60 statistical tables, the Digest provides a wealth of data on Bermuda’s demographic, economic and social conditions. This publication is an excellent tool for research, school projects, marketing initiatives and business planning.
“The coronavirus disease 2019 [COVID-19] pandemic led to restrictions being imposed by Government [e.g. curfews, limited group sizes, reduced business hours and temporary business closures], cancellations [e.g. cruises and flights] and changes in behaviour [e.g. less desire to travel and dine out] as mitigation efforts to reduce the spread of COVID-19 and minimize the number of deaths. Therefore, readers should consider the pandemic when interpreting the 2020 and 2021 data.”
The full Bermuda Digest of Statistics 2022 follows below [PDF here]:
It is time to trot out Mark Twain (or Samuel Clemens) again, “There are three kinds of lies: lies, damned lies, and statistics.”
These are estimates based on 2016 data?
Weak.
No. The 2022 Digest includes “figures up to and including 2021 when available”.
Interestingly, Bermuda appears to have lost 1,111 jobs between 2020 and 2021 (Table 4.1). This does not accord with what I recall being told by our PLP Government.
The Dept of Statistics exists as an employment agency, much like so much of Government. “Baffle them with lots of numbers”. If they can’t get inflation /cost of living stats accurate or timely who would believe anything they publish? Economists are the worst. Live in a world of theory, not reality.
Actually, the 2022 Digest confirms my beliefs. Look at the price inflation section. The price of baby food is up 108%, the price of processed corn (Niblets) is up 95% and the cost of Margarine is up 76%.
Even the price of Pork chops, eggs and apples are reported to have increased by 19%, 20% and 10% respectively.
I have been banging on about Bermuda seeing double digit inflation for some time now. We are not seeing the 3 or 4% inflation some politicians tell us we are experiencing.