The fear of foreigners taking jobs from Bermudians is the top reason why registered voters oppose the Bermuda Government’s Pathways to Status Bill.
This, if anything, clearly showcases that the government has not done enough to communicate the symbiotic relationship we have with our guest workers.
It is rather shocking that we don’t have good approximations produced by the statistics department on the impact the average expat worker has on our economy and job creation.
We should have breakdown estimates of where every dollar an expat makes is spent and how that translates into jobs for Bermudians.
Using my old rough analysis the average non-Bermudian spends nearly $1000 a week, most of it in the local economy. Take housing for example, it amounts to nearly $600 a week by my old analysis. That housing is pretty much guaranteed to be owned by Bermudians. That means the average expat contributes $600 to the pocket of a Bermudian every week that that Bermudian can use to pay off a mortgage or reinvest in the economy. Subsequently look at the rest of spending.
- How much of that money is spent on island?
- How much goes to buying goods and how much of that money goes towards hiring Bermudians to man the shops providing those goods?
- How much goes to buying services and how much of that money goes towards hiring Bermudians to provide those services?
- How much duty is paid on every good?
- How much money does the average non-Bermudian approximately contribute to the local economy and how many non-Bermudian jobs does that account for?
First of all, such approximations would make a great media campaign explaining the value every non-Bermudian brings to the island and the number of jobs non-Bermudians create. It would be especially valuable in explaining the impact the decline in the non-Bermudian workforce has had on the Bermudian economy and jobs for Bermudians.
We have 3000 Bermudians unemployed because every week there was nearly $900,000 less spent by expats in 2010 than was spent in 2009 and nearly $700,000 less in 2011 than in 2010. That’s over $1.5 million less in spending, a large portion of it going towards jobs and into Bermudian pockets, EVERY WEEK. That’s just from 2009-2011, not all the way to 2016 and only direct spending, not the indirect spending such as the case of where the $600 a week on housing is spent and the jobs that in turn creates.
It boggles the mind how we have politicians that create fancy budgets and budget replies talking about creating jobs for Bermudians and yet there seems to be no effort to create approximations to know how many non-Bermudian jobs we need to create in order to drive the economy enough to create those Bermudian jobs. We have teams of statisticians working fro government and these answers don’t seem to be available. It boggles the mind.
Every 1 average non-Bermudian jobs creates approximately X Bermudian jobs.
The question that should be answered? What is X?