WASHINGTON–The fact that U.S. insurance payrolls grew in April for the second straight month despite an overall employment decline in other sectors is consistent with past trends, an insurance market expert said.
Robert Hartwig, president and chief economist at the Insurance Information Institute, made his comments explaining recent U.S. Bureau of Labor Statistics data which showed insurance industry employment increased in April by 3,200 even though overall employment dropped 20,000 for the month. The information is seasonally adjusted.
“The effects of economic downturn are generally muted on the insurance industry, whether property-casualty, life or health,” Mr. Hartwig said.
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