Insurance Jobs Down Slightly in November 2016 After 10 Months of Growth
Leading Insurance Career Site, InsuranceJobs.com Comments on Insurance Employment Trends from the U.S. Bureau of Labor Statistics’ Economic Situation Report
The insurance industry lost 1,300 jobs in November, a drop of 118 percent from the 7,100 insurance jobs gained in October, according to the Bureau of Labor Statistics’ Economic Situation Report released on Friday, December 2, 2016.
“November’s job losses come after 10 consecutive months of positive gains in the industry,“ said Jay Rollins, owner of InsuranceJobs.com, a leading insurance employment website. “Ironically, alongside February, October’s gains were the highest of the year.”
“On our job board, we’ve seen a slight increase in the number of job postings for almost all insurance sectors, while job openings in claims adjusting held steady with fewer new postings,” said Rollins.
Seasonally adjusted, the industry now sits at 2,617,800 employed insurance professionals, a 0.05 percent decrease over October. Over the past 12 months, the insurance industry has grown by 38,300 jobs, up from the 2,569,900 reported in November 2015. “In a year that has averaged 4,000 jobs a month, this sudden drop could be a corrective response to October’s jump in hiring,” Rollins said.
Unemployment inched up to 1.6 percent for the month, from 1.5 percent in October and 1.7 percent in November 2015.
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 insurance jobs are listed each month by geographic location and specialty, including actuarial, adjuster, agents, claims, clerical, customer service, health, life, risk management, sales, investigators, insurance underwriters, workers compensation and more.