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Int'l business jobs boom

The number of jobs in Bermuda jumped two percent in 2004 as international business appeared to be on the verge of overtaking government as the Island's largest employer.

The Bermuda Job Market Report released yesterday by the Department of Statistics said the number of filled jobs increased by 677 jobs from 37,686 in 2003 to 38,363 last year.

And there were 30 fewer jobs in international business compared to public administration, which includes Government and quangos, which employed 4,104 people.

The number of jobs in Bermuda has fluctuated since 2000 but the report released yesterday shows the largest annual growth of two percent.

Between 2002 and 2003 there was no growth, between 2001 and 2002 there was one percent growth and between 2000 and 2001 there was a decrease of one percent, it said.

In 2000, public administration was the largest employer, followed by retail trade and repair services, then international business.

Since then, the number of workers in international business has increased from 3,281 to 4,074, while retail trade and repair services saw a cut of 364 jobs, the largest decline over the period.

The fastest growing economic activity in Bermuda for 2003 and 2004 was construction, with an increase of nine percent, or 271 jobs.

There was $198.9 million worth of building activity during the period, it said. Developments at the Pearman Watlington Waterfront project on Pitts Bay Road, the expansion of Bulls Head car park and commercial and residential repairs after Hurricane Fabian were major catalysts for construction growth in that period, it said.

The second fastest growing job market was international business with a rise of eight percent, or 293 jobs.

Increases in the number of actuaries, underwriters, technical assistants and junior accountants were the main positions of growth in this sector, it said.

Government workers, or the public administration sector, rose by three percent with an increase in 122 positions.

Thirty-five Police Cadets, 11 Fire Personnel and 15 educators spurred the rise in Government jobs, it said.

"The hotel industry experienced a sharp turnaround in the total number of filled jobs in 2004," it said.

But employment levels in the hotel industry grew in response to a demand for such positions as waiters and receptionists, a rise of 141 jobs.

The largest growth in an occupation group was "professional, technical and related" with an increase of 300 jobs taking the total up to 7,801.

With an increase in 292 positions the second largest growth in occupation was "production, transport and related" with a total of 7,313.

In contrast, there was a decline of 84 jobs in local insurance and banks, it said, as well as a decline of 83 jobs in the retail trade and repair services.

The only occupation with a decrease was "sales" which lost 26 jobs or one percent of the workforce as it fell to 2,456.

Non-Bermudians continued to make up a significant part of the workforce in 2004.

They held 8,694 jobs in 2004, the equivalent of 22.6 percent of the workforce. In 2003, they held 8,480 jobs or 22.5 percent of the total.

The number of jobs held by non-Bermudians increased by 214 or 2.5 percent since 2003 while the number of jobs held by Bermudians increased by 97, or 0.3 percent, showing a vary slow increase in the proportion of jobs held by non-Bermudians.

Men continue to outnumber women in the workforce, with men holding 52 percent of all jobs and women 48, the same proportion as in 2003.

That reversed an earlier trend when women were catching up with men and seemed to poised to overtake them. From 2000 to 2002, the proportions of men versus women in the workforce was 51 percent to 49 percent.

It is possible that the increase in demand for workers in areas such as construction and landscaping is responsible for the increase in the proportion of men in the workforce.

Bermuda also saw an increase in unfilled jobs, with 1,192 jobs going begging in 2004 compared to 904 in 2003, an increase iof 32 percent.

The bulk of vacancies were in white collar jobs such as international business, business services and financial intermediation. There was also a high number of vacancies in construction.