NU Online News Service, Oct. 12, 1:52 p.m. EDT
Employment in the property and casualty insurance industry rose two percent in August compared to July, according to the latest U.S. employment statistics, but declined compared to August 2009 by 2.8 percent--or 13,400 jobs.
According to Robert Hartwig, president and economist at the Insurance Information Institute, the job losses stemmed from the soft market, the difficult economy, outsourcing, productivity enhancements and industry consolidation.
According to Mr. Hartwig's analysis of Department of Labor statistics, p&c insurance industry employment has dropped 25,800 through August, or 5.3 percent, since the recession began in December 2007.
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