The downward trend in property and casualty (P&C) insurer employment that began in 2008 may finally be reversing, says Insurance Information Institute President Robert Hartwig, as May 2012 becomes the third straight month with positive employment figures for carriers.
P&C insurers added 1,600 jobs in May compared to April, according to I.I.I.'s latest analysis of the latest U.S. Labor Department's Bureau of Labor Statistics (BLS) employment figures. The gains in May come after carriers added 800 jobs in April compared to March, and 2,000 jobs in March compared to February.
Compared to May 2011, though, employment for P&C carriers is down by 4,500 jobs, though Hartwig notes that comparing long-term employment trends in this sector is challenging since BLS recently recalibrated how it accounts for employment.
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