2,200 Insurance Jobs Added in October

The insurance industry added 2,200 in October, according to preliminary numbers released by the Bureau of Labor Statistics’ Economic Situation Report, released on Friday. October’s employment growth marks an increase over the 1,300 jobs gained in September.

The insurance industry now employs 2,681,900 persons, with an unemployment rate of 1.6 percent. Unemployment rates were last this low in June of 2018.

Over the last three months, insurance has lead the finance and insurance sector in net job growth, adding 5,800 jobs since the summer. Comparatively, credit intermediation has lost 2,900 jobs over the past three months.

Across all industries, nonfarm payroll employment increased by 250,000 jobs in October, while the unemployment rate was unchanged at 3.7 percent. Job gains occurred in health care, in manufacturing, in construction, and in transportation and warehousing.

 

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