Good morning, everyone,

As Minister for the Ministry of Economy and Labour, I am privileged to present the key findings from the 2025 Bermuda Job Market Employment Briefs, based on data collected through the 2024 Employment Survey.  

Bermuda's economy experienced job growth with an increase of 1.8% or 585 jobs between 2023 and 2024, bringing the total number of filled jobs to 33,451. 

The increase in filled jobs reflects positively on Bermuda's economic health and growth prospects while also highlighting the need to continue building upon this progress. 

Key findings from the 2023-2024 comparison showed that 13 of 19 industrial sectors reported job expansion, highlighting diversified economic growth. The top 3 industrial sectors for growth were:  

• The Administrative and Support Services sector recorded a 7.0% increase, adding 124 jobs, and now stands at 1,903.  

• The International Business Activities sector recorded a 2.3% rise, adding 113 jobs, totalling 5,040 and 

• The Human Health and Social Work sector saw a 4.3% increase, adding 109 jobs, for a total of 2,647. 

While more Bermudians were working in 2024 compared to 2023, Bermuda's ageing population and low unemployment rate led to modest Bermudian job growth. Essentially new jobs filled by Bermudians simply replaced job possessed by Bermudians exiting the workforce. As a result, Bermudian jobs increased by 0.1% or 18 additional jobs, reaching 22,369, representing 67% of the total jobs.  

The number of jobs for Other non-Bermudians increased by 6.8%, with 550 more jobs, totalling 8,677. 

 In terms of income, the median gross annual income for all job holders increased by 1.3%, or $913, to $71,151. The median gross annual income for all age groups, increased year over year. 

The top 5 highest paid jobs for Bermudians were: 

• Physician ($255,909) 

• Director and Chief Executive ($201,270)

• Finance- General Manager ($199,450) 

• Dentist ($195,500) 

• Judge ($185,625) 

While the top 5 highest paid jobs for Other non-Bermudians were: 

• Director and Chief Executive ($322,893)

• Underwriter ($312,731) 

• Specialist Economist/ Securities Analyst ($292,500) 

• Physician ($287,273) 

• Finance – General Manager ($245,455) 

Table 4 in the Employment Briefs serves as a tool for identifying potential job opportunities for suitably qualified Bermudians. The table shows the distribution of Bermudians and Other non-Bermudians in selected occupations as well as the percentage of jobs filled by Other non-Bermudians.  

In 2024, some of the key occupations that present opportunities for Bermudians include:  

• Chef de Partie/Cook 

• Director and Chief Executive 

• Waiter/ Waitress 

• Actuary 

• Finance Manager  

• Accountant I 

• Cleaner/Houseperson 

• Registered Nurse 

• Accountant II 

• Mason 

• Landscape Gardener 

While the jobs data demonstrates growth in many job market areas, the Government is fully aware of the need to continue prioritising the creation of sustainable employment opportunities, especially for Bermudians. 

Our unwavering commitment is to ensure that Bermudians have access to stable, well-paying jobs and are positioned to benefit from our economic growth. It is also important to note that, while we have made progress, the number of filled jobs remains 927 below the pre-pandemic level of 2019, underscoring the work that still lies ahead.  

The 2025 Bermuda Job Market Employment Briefs and the 2024 Employment Survey Tabulation Set are essential tools for assessing employment trends and informing our labour policies. They provide us with a clear understanding of the employment landscape on our island, and are available at the Department of Statistics online at gov.bm. 

Thank you.