Property and casualty carriers saw employment climb for thesixth straight month in July despite mixed employment numbers fromthe rest of the insurance industry, according to an InsuranceInformation Institute analysis of the latest U.S. LaborDepartment's Bureau of Labor Statistics figures.
|P&C carriers added 1,000 jobs in the month, more than anyindustry sub-sector. I.I.I. President Robert Hartwig notes thatP&C carrier employment typically climbs in the month of July,and he says a stiffer test of employment in the sub-sector willcome next month, as August typically sees a reduction in jobs.
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Still, Hartwig notes, “Employment changes [for P&Ccarriers] have been positive or flat for the February-July spanonly six times in the last 23 years; it happened five times in the1990-1999 decade, and is happening again in 2012.”
Compared to July 2011, P&C carrier employment is down by 100jobs.
|For agents and brokers, employment in July was down by 700 jobsafter climbing by over 3,000 jobs for previous three months.Hartwig notes that the latest count for agents and brokers,655,200, is down by 24,400 jobs compared to December 2007, when theGreat Recession began. Compared to July 2011 though, employment inthis sub-sector is up by 6,800 jobs.
|For the insurance industry as a whole, including P&C andlife and health sub-sectors, employment was up by 900 jobs in Julycompared to June.
|Reinsurers saw employment fall by 100 jobs in the month, but thesub-sector is up by 1,900 jobs compared to July 2011.
|Claims adjusters were up by 900 jobs in July compared to June,and flat compared to July 2011.
|Life direct employment saw the sharpest drop for the month, downby 900 jobs.
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