'Our economy is shrinking and jobs are being shed'
Economy Minister Kim Wilson yesterday announced construction opportunities will be given to small companies as Government attempts to ease the pain of the recession.Senator Wilson said fledgling firms graduating from an incubator programme would be given a series of minor jobs over the next few months.She said $250,000 has been set aside for the initiative run by Bermuda Small Business Development Corporation, as she unveiled a series of measures to help people during the economic crisis.The Minister said she has met Bermuda Hospitals Board to stress Bermudian companies should not miss out when the hospital redevelopment begins, following warnings from the industry that it will lean on foreign expertise.A project is also being set up with Bermuda Hospitality Institute to train unemployed people for careers in hospitality; while Government has asked church leaders to take part in a programme to help unemployed people.Work permits will also be handed out in a more transparent way, she said, as the relationship between relevant Government departments is tightened.However, Sen Wilson said she could not provide the jobs figures people want for a clear picture of the extent of the Island’s unemployment problems.“We still remain in the throes of an economic downturn, not just here in Bermuda, but worldwide,” she told a press conference.“And the stark reality is that our local economy is contracting and jobs are being shed across industries.“However, I must stress and this is a critical point that the rate at which jobs are being shed, the extent of the issue and the numbers and figures being disseminated from other entities is purely speculative at this stage.”Last February, a survey showed Bermuda’s unemployment level was 4.5 percent, with 1,700 out of work. Bermuda Employers’ Council estimates up to 3,000 jobs have been lost in the past two years.Sen Wilson said anecdotal evidence indicates the figure has grown beyond 4.5 percent but Government has no up-to-date figure as it awaits the completion of the 2010 Census.She said an economic roundtable discussion will be set up later this month, involving the Association of International Companies, Business Bermuda, the Association of Insurers and Reinsurers, the Chamber of Commerce, Bermuda Hotel Association, the Construction Association of Bermuda and Bermuda Employers’ Council.She said: “I’m expecting this to be a collaborative effort, because only with everyone working together to find solutions can we sustain as many jobs as possible.”Giving her thoughts on the state of the economy, she said: “There isn’t a day that goes by where the plight of our unemployed Bermudians is not foremost on my mind.“I recognise that the economic and labour force challenges are affecting each and every one of us in one way or another.“Many in this community believe that as a Government Minister, I am unable to relate to this situation. Not true.“Not only have I been affected in my own immediate family, like many other residents, I have relatives and friends who are also affected.“It does weigh heavy on my mind to know that people are struggling to make ends meet and that many families in Bermuda are just one pay cheque from losing everything they have worked hard for.“But I want to assure the people of this Country that we are doing all that we can to address the challenges that we are facing.“To the residents of Bermuda who are currently unemployed and are actively seeking jobs, I urge you not to give up.“As you seek employment, I encourage you to take advantage of the services of the Department of Labour and Training and the National Training Board.“To those of you who are currently employed, please do not rest on your laurels or become complacent. Be punctual to work and give nothing but your best to your employer.”