Insurance Industry Adds 6,300 Jobs in September

us-bureau-of-labor-statistics logoThe insurance industry saw an increase in employment with the addition of 6,300 jobs for the month of September, according to the latest employment numbers from the U.S Bureau of Labor Statistics released earlier this month.

The insurance carriers and related activities sub-sector grew by 0.25 percent last month and now sits roughly at 2.45 million employed insurance workers. Over the past year, the total number of employed workers has increased by 62,400 jobs, or 2.61 percent. In September 2013, the reported number of workers in the insurance carriers and related activities industry was 2.38 million. 

The finance and insurance sector as a whole increased by 11,100 jobs in September, or 0.18 percent. Over the last year, the sector has increased by 0.73 percent, from 5.88 million workers to 5.92 million. The largest gains of the past year occurred within the last 4 months: September (+11,100), August (+11,400), July (+10,200), and June (+10,000).

Across all sectors, total nonfarm payroll employment increased by 248,000 jobs in September, while the unemployment rate declined by 0.2 percentage points to 5.9 percent. The number of unemployed persons also decreased to 9.3 million, a difference of 329,000. Over the last year, the unemployment rate and the number of unemployed persons has decreased by 1.3 percentage points and 1.9 million, respectively.

Employment numbers were revised for both July and August, from 212,000 to 243,000 jobs and 142,000 to 180,000 jobs respectively. With these revisions, employment gains for both months combined were 69,000 more than previously reported. 

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