Bermuda's economic woes deepened in the last three months of 2009, new figures released by Government show.

The Quarterly Bulletin of Statistics suggests that the slumping local economy is becoming increasingly reliant on international business and the financial services sector.

The construction industry boom appears to be well and truly over, with just $5.1 million of private-sector work put in place in the fourth quarter of last year — a dramatic fall from the $135 million figure in the first quarter of 2009.

Construction Association of Bermuda President Andy Pereira said companies were continuing to lay off staff because of a lack of business.

More worrying for construction firms is that the value of new projects started in the fourth quarter was a paltry $1.8 million.

The figures also showed how the hospitality industry has suffered during the downturn. Hotels' gross receipts were down by almost 23 percent in 2009, from $273 million to $211 million.

Air arrivals were down 10.5 percent in 2009, on top of an even bigger fall the year before.

The wages paid out by hotels and restaurants plunged by a staggering 55 percent through 2009 — and this included only one month's impact from the Elbow Beach Hotel closure at the end of last November, which cost about 150 jobs.

What was once the main pillar of the Island's economy is now a very small contributor in terms of employment income. Hotel and restaurant staff took home $66.4 million in 2009, dwarfed by the combined earnings of $851 million of international business employees.

Total wages paid were down across most sectors last year, but the public sector employment income rose by 5.2 percent.

In the fourth quarter the Island's combined employment income was almost eight percent lower than in the same period of 2008.

Retail sales were down by 5.7 percent last year, while imports dipped eight percent.

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