Property and casualty insurers saw their six-month streak of employment gains broken in August, as the sector shed 1,200 jobs in the month compared to July.
In an analysis of the latest figures from the U.S. Labor Department's Bureau of Labor Statistics figures, Insurance Information Institute President Robert Hartwig says the August drop was expected.
“[H]istorically, P&C employment almost always falls in August vs. July,” says Hartwig. “In the 23 years starting with 1990 — as far back as BLS data go — August employment changes by P&C insurers was flat twice, rose once, and fell 20 times.”
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
