No there is suppose to be a bearing inside, mine has a two I think, Mine has a brass tube with a place cut out for the flat spot on the elevator shaft. When you install mine I put the brass sleeve on the elevator shaft, slide a white plastic spacer ring on, and insert into the jet which slides through the bearings. Then on the inside you slide the elevator arm/clamp onto the shaft and push it on till it touches the inner race of the bearing. The prevents the elevator for moving in and out, your picture doesnt look right to me, my jet has a ply bulkhead and some aluminum in that area where the bearing and bearing holder mounts.