Reacts to Report from U.S. Bureau of Labor Statistics

The U.S. Bureau of Labor Statistics released a report this month announcing a miniscule .08 percent decrease in the number of workers in the insurance industry from December 2012 – January 2013. According to The U.S. Bureau of Labor Statistics, the insurance industry now employs 2.346 million workers compared to 2.348 million in December 2012. Employment throughout the insurance industry remains relatively stable. This small decrease in employment is accompanied by an increase in earnings and hours. The U.S. Bureau of Labor Statistics reports a 50 cent increase in average hourly earnings and an approximately one hour increase in hours worked per week for insurance professionals.

Wage statistics from the U.S. Bureau of Labor Statistics show that insurance underwriters are the highest paid when compared to claims adjustersinsurance sales agents, and other insurance professionals. Insurance underwriters across the nation have a median annual income of $60,940. maintains that competitive salaries and job security have made the insurance industry a go-to option for job seekers.

Jay Rollins, president of comments on the need for insurance professionals of all types, “While underwriting holds strength throughout the industry, the damage due to increasingly inclement weather conditions and natural disasters in parts of the United States raises demand for insurance claims professionals to help manage unforeseen mishaps.” continues to see a steady flow of job postings to their site despite the adverse economic climate. expects consistent growth through the next quarter.

About Author

Bob Thomas

Bob Thomas is the resident insurance employment expert. He has over a decade of experience in insurance employment consulting.