what might be called "the state of the economy''. Some of the things he said about Bermuda's very healthy economy we found very interesting especially in light of the comments often made on talk shows, in letters to the Editor and by some politicians seeking votes.

We do not suggest that everything is right with Bermuda's economy or any other country's economy but a successful economy must be judged on the total economy and not the small problem areas. There are problem areas but Bermuda has one of the most successful economies in the world, bar none.

There are people who would have everyone think that large numbers of Bermudians are unemployed and suffering. Yet Dr. Gibbons demonstrated that there was a decline in unemployment to 415 registered jobless in 1997. That was less than half the number registered in 1995 and 28 percent below those registered in 1996. Given the huge amount of construction going on in Bermuda, the number now is probably lower than 415. There has also been a two percent increase in jobs over 1996.

It also has to be accepted that in any economy there will always be a small number of people who are unemployable.

Despite all the complaints about non-Bermudians taking jobs from Bermudians, in 1997 non-Bermudians held 6,525 jobs which was 836 less than the number of jobs held by non-Bermudians in 1996. That hardly supports the claim that is so often made that Bermuda is "flooded'' with non-Bermudians and works to create jobs for non-Bermudians but not for Bermudians. And it has to be remembered that non-Bermudians in the work force more often than not create jobs for Bermudians.

The other myth we are often fed in Bermuda is that Bermudians cannot get the well paid jobs in the international company sector where the number of companies is growing with 247 additional jobs created in 1997. The truth is that the figures show Bermudians increasingly moving into the higher paid positions in the international companies. By 1996 39 percent of Bermudians in the international sector were in high skill, high paid categories. As we see it, that is a firm indication of the contribution of these companies to the Bermudians we are educating to a high standard. Make no mistake, it is much easier and a great deal cheaper for these companies to hire suitable Bermudians than to fight for work permits. There is no plot or plan to exclude Bermudians.

A very similar thing seems to be happening in the local sector where Dr.

Gibbons is able to say, "Bermudians are capturing an increasing percentage of the professional, technical, administrative and managerial jobs which are being created by the expanded economy.'' Yet politicians and talk shows often tell us something quite the opposite. The signs for much of the the rest of the economy, except tourism, are remarkable. We have contained inflation at 2.1 percent. Retail sales have increased and that is reflected in overseas spending by Bermudians which seems to be curtailed with an increase of under one percent which may well reflect the changes in local retailing and efforts to keep prices down. The construction area of the economy is booming with a 50 percent increase in spending much of it money coming into the Bermudian economy from outside. That is the reality of the economy, not the fantasy or the speculation or the scare tactics or the things some politicians tell us when they hope to convert a few voters. That is a dangerous game and destructive to Bermuda.