More than 800 jobs were lost in 2014, according to Government statisticians.

The number of Bermudian job holders dropped by 671, from 24,504 in 2013 to 23,833 last year.

The number of jobs held by non-Bermudians, excluding non-Bermudian spouses and permanent resident certificate holders, fell by 122 over the same period.

Among non-Bermudian spouses of Bermudians, there were 13 fewer jobs, while the number of permanent resident certificate holders in jobs rose by four — a total number of 802 fewer jobs and a drop of two per cent on 2013.

There were 33,475 jobs counted in 2014, compared to 34,277 the year before.

The grim news came in the latest edition of the Bermuda job market Employment Briefs.

The survey, carried out in August last year, showed 13 of the 16 economic sectors experienced a drop in the numbers of staff.

The biggest loser was the financial intermediation industry, which lost 336 jobs — with roles like senior clerks, financial clerks and executive secretaries all showing losses.

The survey report said: “The loss of finance and senior clerks was accredited mainly to the year-over-year decline in positions for this sector.”

The hard-hit construction industry saw the numbers employed fall below 2,000 — the lowest number in almost 20 years — to 1,925 compared to 2,143 in 2013, a total of 218 fewer jobs.

The report said: “Considerable job losses were also reported in business services and the transport and communications sector.

“Establishments that provided accounting, legal and business consultancy services reported a net loss of 98 jobs in 2014.

“Jobs in the transport and communications industry fell by 93 positions from 2013.”

Accountants and other professional services providers also took a hit — down 143 jobs, with 54 fewer posts for accountants and 45 fewer computer professionals.

The report added: “Jobs in the crafts and trades worker group fell by 139 posts.

“There was a net loss of 34 plumbers, 31 masons and 30 electricians.”

But the number of jobs in international business rose by 169 positions — boosted by more job opportunities for actuaries and underwriters.

But George Hutchings, a board member of the Association of Bermuda International Companies (ABIC), said figures from 2014 would not take account of the recent rash of mergers and takeovers in reinsurance — which are likely to lead to job losses.

Mr Hutchings added: “There are smaller companies setting up shop here and that’s what’s probably driven these numbers.

“But we haven’t yet seen the ramifications of the consolidation that’s going on — with two or three of these going on, the numbers might reverse and not be so positive.”

Bermuda Business Development Association (BDA) CEO Ross Webber, however, was more optimistic.

He said: “Our focus has been on supporting established international business companies and encouraging new enterprises to choose our jurisdiction and invest in Bermuda.

“We’ve seen direct successes after targeted business development efforts in Canada and Latin America, as examples.

“It’s important to note that international business drives 80 per cent of Bermuda’s economy — so we hope to see our work integrate more deeply into all areas of Bermuda’s job sector.”

The number of jobs in the education, health and social work sector and the real estate and renting services area also registered increases of 42 and 20 jobs respectively.

The median gross annual income for all job holders — in firms with ten or more employees — rose by 5 per cent to $63,897, up from the $60,668 for the year before.

But women continue to earn more than men — an average of $65,213 against $62,584.

There were also more women than men in the workforce — 16,992 (51 per cent) compared to 16,483 (49 per cent).

The number of black people compared to white people in the workforce remained static, with 18,105 black people compared to 10,736 white people.

Although both numbers declined in 2014 compared to the previous year, the balance 54 per cent to 32 per cent — remained the same.

The number of people described as mixed or other race also fell, but maintained a 14 per cent share of the total year-on-year.

Out of 487 people described as “senior officials and managers” 256 were white, 200 were black and 31 were mixed/other race.

In the “professionals” category, 113 people were white, 112 were black and 14 were mixed/other race.

However, white people continued to earn more than black people — a median gross annual income of $87,799 compared to $57,877.

See the full Employment Briefs report under “Related Media” on this webpage.