The agent and broker subsector added jobs for the sixth straightmonth in November 2013, and is now just over 3,000 positions shortof its July 2007 employment peak, according to an analysis of thelatest U.S. Labor Department's Bureau of Labor Statisticsfigures.

|

The addition of 3,300 agent and broker positions for Novemberrepresents the largest monthly addition in jobs for the subsectorthroughout the six-month employment-gain stretch. Agents andbrokers also outpaced all other insurance subsectors for Novemberemployment gains, and accounted for well over half of the insuranceindustry's overall gain of 5,800 jobs for the month, an analysis bythe Insurance Information Institute shows.

|

“If the recent pace keeps up, employment in this segment willpass [the July 2007] peak in one to two months,” says I.I.I.President Robert Hartwig in a statement accompanying theanalysis.

|

Compared to November 2012, agents and brokers have added 12,100jobs. The subsector's employment stands at 676,000 as of November2013.

|

Property and casualty insurers also enjoyed a solid month ofemployment in November, adding 1,800 jobs during the month, thesecond-most behind agents and brokers. Hartwig says, “RisingP&C carrier employment in November is not unusual—in the 24Novembers starting with 1990, seasonally adjusted P&C carrieremployment rose twice as often as it fell.”

|

He notes that the latest report shows the highest employmentfigures for this subsector since June 2011. P&C carrieremployment, as of November 2013, is 529,200. Compared to November2012, the subsector has added 7,900 jobs.

|

Of the nine subsectors the I.I.I. tracks, only three showedemployment losses for November: title and other direct (-900),claims adjusters (-400) and “all other insurance-relatedactivities” (-100).

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.