A 7.5 percent plunge in Bermudians registering as jobless was hailed yesterday as evidence of economic revival.

Finance Minister Grant Gibbons pointed to a mini-boom in construction.

"It's reflective of what I would call an improving economy,'' he declared.

Bermuda does not have an official unemployment rate.

But the number of Bermudians registering at the Government Employment Office is considered a reasonable gauge.

Latest statistics from the Labour and Training Department show 560 people were registered as unemployed in October 1996.

This is roughly 7.5 percent down on the 605 who registered the previous October.

Figures also reveal 506 people registered for the first time as jobless between January and October, 1996.

In the comparable period in 1995 804 new people registered.

Dr. Gibbons said the statistics suggested 1.4 percent of Bermuda's work force was now registered unemployed.

"Bermuda can be compared very positively to other countries,'' he said.

In Germany, for instance, unemployment was running at about ten percent, while in France and Italy the rate was more than 12 percent.

Dr. Gibbons said a number of areas in the economy were doing well, particularly the construction industry.

"Business in that sector is looking very, very positive. A number of projects have been started and more are planned.'' Projects included the Pearman Watlington waterfront, he said. The latest Labour and Training Department figures revealed 719 people registered in October 1996.

While 560 were without any job, 74 were working part-time and 85 were seeking a change in position. The total number registered in November was 590.

Government's Chief Statistician Janet Smith said Bermuda's last unemployment survey was in 1993, during the recession.

And from the sample, it was estimated the jobless rate was 6.8 percent.

The sampling was carried out as part of a household expenditure survey.

"We don't have an ongoing unemployment survey, although with the census in the year 2,000 we may get another count.

"There are no plans, however, in the interim to have a survey.'' She added: "Surveys are very expensive and historically Bermuda has not had an unemployment problem.

"For us to sample a small sub-group, and get sufficient numbers, is difficult to do. That is the challenge.'' Shadow Finance Minister Eugene Cox has stated the recession highlighted the need to provide accurate unemployment figures.

Unemployment was a phenomenon to hit many Bermudians for the first time in 1991.

It marked the end for many the ability to pick and choose the quality and quantity of their employment.

Last year banker Sir David Gibbons warned Bermuda could be confronted with significant unemployment in the near future -- without immediate action.

He called for the formation of a coalition of Chamber of Commerce, Government and international business representatives to determine the needs of the labour force and to organise student training in that direction.