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Column: OBA’s Campbell On Employment & More [Opinion column written by the OBA's Vance Campbell] The recent article “Job numbers up but still below pre-pandemic levels” paints a cautiously optimistic picture of Bermuda’s labour market. While it’s true that total jobs increased by 1.8% between 2023 and 2024, a deeper dive into the data reveals troubling trends that deserve public scrutiny. Bermudian Employment: Growth in Name Only The headline—an increase of jobs—is misleading when broken down. Bermudians saw a net gain of just 18 jobs, a mere 0.1% increase, while non-Bermudian jobs experienced a 6.8% jump. This imbalance raises serious questions about the effectiveness of policies meant to prioritize Bermudian employment. The explanation offered—that Bermudians are replacing retirees—fails to address the broader issue: Are Bermudians being adequately prepared and supported to enter high-growth sectors like international business and healthcare? Or are we being left behind? Income Gains Erased by Inflation The article highlights a 1.3% increase in median gross annual income, now at $71,151. But this modest gain is overshadowed by inflation, which averaged just under 2.0% in 2024. Food prices rose 2.8%, healthcare costs 3.1%, and rent 2.1%. In real terms, Bermudians are earning less than they did the year before. This is especially concerning given Bermuda’s notoriously high cost of living. Essentials like milk cost $13.40 per gallon, bread minimum of $7 per loaf, and rent for a one-bedroom apartment can exceed $3,000 per month. A $913 annual income bump doesn’t go far in this environment. Foreign Worker Reliance and Wage Disparities The surge in non-Bermudian employment suggests that businesses are either unable or unwilling to hire locally. This could stem from skill mismatches, but also points to deeper structural issues in education, training, and hiring practices. Even when Bermudians do hold high-level positions, they earn significantly less than their non-Bermudian counterparts. For example: Director & CEO: Bermudians earn $201,270, while non-Bermudians earn $322,893. Finance General Manager : Bermudians earn $199,450, compared to $245,455 for non-Bermudians. These disparities are not just economic—they’re systemic. AI and Automation: A Silent Threat Minister Hayward’s dismissal of AI-related job displacement is premature. Experts estimate that 2–5% of Bermuda’s jobs could be lost to automation in the near future. Clerical, administrative, and customer service roles—many held by Bermudians—are especially vulnerable. Ignoring this threat risks leaving our workforce unprepared for the technological shifts already underway. Recovery Is Not Enough—We Need Resilience Bermuda remains 927 jobs below pre-pandemic levels. Recovery should not be measured solely by job quantity, but by job quality, accessibility, and sustainability. We must ask: Are we building a resilient economy that works for Bermudians, or simply rebounding on paper? The government’s Employment Brief offers valuable data—but it must be interpreted with a critical lens. Job growth that disproportionately benefits non-Bermudians, income gains that don’t keep pace with inflation, and a lack of preparation for AI disruption are all signs that Bermuda’s labor market is not as healthy as it appears. We need bold, data-driven policies that prioritise Bermudian workers, close wage gaps, and future-proof our economy. Anything less is a disservice to the people of Bermuda. - Vance Campbell, OBA MP and Shadow Minister of Economy and Labour #BermudaPolitics #EmploymentInBermuda #OpinionColumns Category: All
