Log In

Reset Password

Employment income falls 1.4%

Employment income declined by 1.4 per cent, and the value of imports fell 15.8 per cent in the second quarter of last year.

However, economic data also showed that more Bermudians were employed in the hotel industry at the end of April last year when compared with the corresponding date in 2017.

There were 2,608 hotel employees in Bermuda on April 30, a year-on-year increase of 122, with the number of Bermudians in the sector increasing by 90 to 1,765.

Hotel gross receipts were $129.1 million for the second quarter, an increase of $11.4 million, or 9.7 per cent.

The information is contained in the quarterly bulletin of statistics covering the April to June 2018 period.

The data showed that the value of imports decreased to $299.1 million. The largest percentage decline was in the transport equipment category as a result of fewer imports of boats and yachts in the absence of the 2017 America's Cup.

There was a $12.4 million decline in employment income to $851.5 million, with the international business sector a large contributor to that. In the IB category remuneration was down $12.7 million due to fewer stock options.

There was also a fall of about $2 million in the employment income for the business services category, while the public administration and defence category was up by about $2.4 million to $107 million.

Air visitors increased 5.4 per cent year-on-year to 92,039, although they spent 3 per cent less than in the corresponding quarter in 2017, at $133.7 million. By contrast there were 196,437 cruise ship passengers during the quarter, and they spent an estimated $31.3 million, which was up $5.4 million.

Declarations of overseas purchases by residents increased 7.7 per cent to $14.7 million.

See Related Media for quarterly bulletin report

Hotel sector boost: a snapshot of employment data showed that on April 30 last year there were 2,608 people in Bermuda employed in the hotel industry, an increase of 122 year-on-year, with 90 more Bermudians employed in the sector than on the corresponding date in 2017 (Graph by the Bermuda Government Department of Statistics)

You must be Registered or to post comment or to vote.

Published January 18, 2019 at 1:33 pm (Updated January 18, 2019 at 1:47 pm)

Employment income falls 1.4%

What you
Need to
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon