One of these things is not like the other

From today's Association of Bermuda Insurer and Reinsurers report:

The five ABIR members who historically have had the largest Bermuda-based workforces have cut staff numbers on the Island by almost a quarter over the past four years.

Over the same period the number of Bermudian citizens (including spouses of Bermudians and permanent residents) on their payrolls fell by one-fifth.


"Accelerated action by the Government to encourage ABIR members to locate senior executives here in Bermuda would be helpful.

"As the numbers from our survey demonstrate, there is a direct correlation between these senior executives being in Bermuda and employment opportunities for Bermudians."

From last week's Ascendant earning report:

Ascendant stated: "A significant decrease of 11.58 million kWh is directly related to the economic downturn, as the number of active, metered residential units has declined due to a weak economy and increased numbers of non-Bermudian work permit holders leaving the Island, as some businesses either moved operations out of Bermuda or reduced staffing levels."


Electricity sales in the commercial sector also fell 1.3 percent, compared to a decrease of 1.9 percent in 2010.

"Primary factors responsible for the reduction are business closures, reduced hours of operation, lower occupancy levels and concerted efforts by many businesses to reduce operating costs through energy conservation, due to the Island's economic downturn," Ascendant noted.

And from the PLP:

The truth is, international business has grown considerably under the PLP. Our balanced policies ensure that international business thrives while also ensuring that Bermudians benefit.


[The OBA] believe that the best way to create jobs for Bermudians is to bring guest workers into Bermuda to take the jobs Bermudians could be doing. These guest workers often send much of their income off our island, taking money out of our economy. This also drives down the value of labour and makes good paying jobs even harder to come by.

On message, but completely off the mark.

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