2015 Bermuda job market employment briefs

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BERMUDA GOVERNMENT

Department of Statistics

May 2015

THE BERMUDA JOB MARKET Employment Briefs

Introduction

Aggregate Employment

The 2015 edition of the Bermuda Job Market The Bermuda job market continued its downward trend in 2014 Employment Briefs is based on data collected from as total filled jobs fell by 802 or 2%. There were 34,277 jobs the 2014 Employment Survey. The Annual Employment counted in 2013 compared with 33,475 in 2014 (See Table 1). Survey is a census of all businesses on the island The breakdown of filled jobs by sex shows females accounted and the Employment Briefs is used to illustrate and for 443 fewer positions in 2014 while males represented 359 of highlight the main findings of the survey. The purpose the total decline. The number of Bermudian job holders fell of the Employment Survey is to provide a broad count from 24,504 in 2013 to 23,833 in 2014, a loss of 671 jobs. The of all jobs in the Bermuda labour market by selected number of jobs held by other non-Bermudians (excludes nondemographics, industrial and occupational groups. The Bermudian spouses of Bermudians and Permanent Resident information collected from the Employment Survey is the Certificate (PRC) Holders) declined by 122 between 2013 and primary source used for analyzing employment trends 2014. Among non-Bermudian Spouses of Bermudians there in Bermuda and is disseminated as an objective source were 13 fewer positions in 2014, while PRC holders increased of employment information for use by government, by four jobs. commerce and the general public. This edition examines The financial intermediation industry reported the largest the employment changes between the years 2013 and decline in filled jobs, measuring 306 jobs. The loss of finance 2014. Additional and more detailed information on and senior clerks was accredited mainly to the year-over-year Bermuda’s labour market can be obtained from the decline in positions for this sector. The international business 2014 Employment Survey Tabulation Set. The 2015 sector grew in 2014, increasing by 169 filled jobs to 3,937 from Employment Briefs and the Tabulation Set are available 3,768 in 2013. This growth was attributed partially to increases on the Department’s website at www.statistics.gov.bm or in positions such as actuaries and underwriters. http://subportal.gov.bm/business-statistics/ employment-statistics. The reference week Chart 1: TotalChart Filled1:Jobs byFilled Bermudian Status, 2010 -2014 Total Jobs by Bermudian Status, 2010 for the 2014 Employment Survey was 31 30,000 39,000 August to 6 September 2014. 38,097

• 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%

Total Filled Jobs by Bermudian Status

• Total filled jobs fell to 33,475

25,000

38,000 37,399 37,000

20,000

36,000 35,443

15,000

35,000 34,277 34,000

10,000

33,475 33,000

5,000

32,000

0

2010

2011 Bermudians

1

2012 Other Non-Bermudians

2013 Total Filled Jobs

2014

31,000

Total Jobs

2014 Highlights


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