Insurance Employment Down 70 Percent in March
Leading Insurance Career Site, InsuranceJobs.com Shares Insurance Employment Trends from the U.S. Bureau of Labor Statistics’ Economic Situation Report
Employment gains within the insurance industry were down by 70 percent in March, according to preliminary numbers revealed in the U.S. Bureau of Labor Statistics’ Economic Situation Report released on Friday, April 7, 2017.
“The insurance industry gained only 800 jobs in March, a drop from the 2,700 jobs gained in February,” said Jay Rollins, owner of the insurance employment website InsuranceJobs.com. “Over the past 12 months, the insurance industry has gained an average of 3,850 jobs a month. This factors in November’s loss of 2,000 jobs, a low for the year, and December’s gain of 8,700 jobs, the largest increase in the past year.”
The insurance carriers and related activities subsector, which includes claims adjusters, claims investigators, insurance sales agents and insurance underwriters, now sits at 2,615,100 employed workers with an unemployment rate of 2.4 percent. Unemployment over the last 12 months has also averaged 2.4 percent.
Employment gains made within the insurance subsector only accounted for 10.2 percent of growth within its parent sector, finance and insurance. Instead, credit intermediation and related activities accounted for the majority of growth, with 6,100 jobs created.
Established in 2006, InsuranceJobs.com is the leading insurance jobs website for insurance careers. Currently, the site has over 250,000 registered job seekers and 6,500 registered employers. Users can create a profile, upload their resume, apply to positions and engage in our social communities. Employers can post insurance job opportunities and browse a resume bank for applicants. Thousands of new jobs are listed each month by geographic location and specialty, including insurance claims, actuarial, adjuster, agents, clerical, customer service, health, life, risk management, sales, investigators, insurance underwriters, workers compensation and more.