So continuing our series of using excel voodoo (aka VLOOKUP) to take a look at where jobs the jobs went, let’s take a look at what jobs losses looked like across industries.
Unfortunately the data to break things down by Bermudian vs. non-Bermudian isn’t available so we’ll just look at jobs overall
How about construction?
Clearly this stands out as the industry that faced the most pain of the recession. We overheated the economy and ultimately construction demand dried up causing the very painful loss of nearly 2000 jobs.
International business and associated business services have also had a painful slide with slight indications of recovery in 2014-2015.
It is too bad we don’t have a picture of pre-2008 due to the change in the occupational categories as it might give us more insight into what things looked like before and afterwards.
Then we can see retail, hotels and transport were all hard hit, likely especially due to the recession. Restaurants seemed to hold steady.
Let’s move on to the growth sectors of the last few years.
Education, Healthcare and Social work was one of the few places that saw job growth. Perhaps unsurprisingly as Bermuda was increasingly encumbered with unemployed people needing assistance.
Oh, and government…
- Where did the jobs go?
- Where did the jobs go? – Examining the rate of growth vs decline
- Where did the jobs go? – taking a look at major occupational groups
- #WhereDidTheJobsGo? – taking a look at cumulative changes in job numbers
- #WhereDidTheJobsGo – Comparing declines in major occupations by Bermudian status