Property and casualty carrier employment fell in January,virtually erasing the gains made in December 2012, according to ananalysis of the latest figures from the U.S. Labor Department'sBureau of Labor Statistics.
|Employment for P&C carriers dropped by 2,100 jobs inJanuary. In December, the subsector gained 4,600 jobs, but thatfigure, according to Insurance Information Institute PresidentRobert Hartwig, was later revised downward.
|Hartwig says, “P&C carrier employment in January 2013 dippedvs. December 2012, down 2,100, [or] -0.4 percent, to 521,600. Thisvirtually negates the rise in December, itself revised down by2,000, to near the November 2012 level, but otherwise above everymonthly reading in 2012.”
|For agents and brokers — both P&C and life and health —employment fell by 300 jobs, essentially flat compared to December,according to Hartwig. But he says, “This is somewhat unusual; inthe 23 Januarys starting in 1991, agent/broker employment grew 13times, was flat four times, and fell six times.”
|In December agent and broker employment fell by 1,200 jobscompared to November, a figure that Hartwig also said was “somewhatunusual” at the time.
|Despite the two-month dip in jobs, Hartwig says employmentlevels for agents and brokers have been generally rising sinceAugust 2010. At that time, the subsector accounted for 637,700jobs. As of January, the figure has risen to 662,800.
|Among other industry subsectors, reinsurance employment remainedflat at 25,800, while claims-adjuster employment climbed slightlyby 300 jobs to 52,800.
|Employment at life insurers fell by 2,300 in January — thelargest decline for the month — while health/medical directemployment climbed by 1,300 jobs — the largest gain for themonth.
|Overall, insurance-industry employment fell by 700 jobs for themonth. Total employment stands at 2,345,400.
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