Hayward: island’s labour market records steady growth
Bermuda’s labour market remains robust, recording steady recovery and growth according to the latest survey, the Minister of Economy and Labour said.
Jason Hayward told the House of the Assembly that the November 2023 Labour Force Survey found the island’s unemployment rate to be 2.8 per cent, down from the 3.1 per cent for the same period in the previous year.
He told MPs it marked a vast improvement on the 7.9 per cent unemployment during the Covid-19 pandemic.
Mr Hayward called the island’s underemployment rate of 3.3 per cent an encouraging indicator, adding that it showed a decrease from the previous year.
However he said the island’s youth unemployment rate, measured in the 16 to 24 age bracket, stood at 13.5 per cent — adding that young workers globally showed the highest unemployment rate.
Results of the November 2023 Labour Force Survey indicate that:
• The labour force stood at 36,619
• The island’s working population comprised 35,591 people, of which 3,157 were underemployed
• The working population distribution showed that 76.4 per cent were Bermudian
• The labour force participation rate was recorded at 82.4 per cent
• An average of 41.2 hours were worked per week in a main job
Mr Hayward highlighted the Department of Workforce Development’s skilled trades apprenticeship training programme offering pathways to certification and hands-on experience in high-demand trades.
He said that, in collaboration with industries, it would offer a blend of classroom instruction and on-the job training — boosting “critical skills required for fields like construction, facility management, and maintenance”.
He thanked employers who had joined the programme, and invited others to attend an information session at the DWD on December 2.
Mr Hayward said the DWD had launched a small appliances training course, with five participants getting trained at Fred’s Appliance Academy in the United States.
He urged Bermudians to avail of programmes such as “Learn Through Experience Hospitality Training”, and solar installation training for electricians.
He said: “There is so much important work happening to equip Bermudians with the skills needed for successful careers.”
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