Property and casualty carrier employment climbed in February, but only enough to offset a downward revision of January’s numbers, according to an analysis of the latest U.S. Labor Department Bureau of Labor Statistics figures.
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Robert Hartwig, Insurance Information Institute President, says in his analysis of the figures that the January 2013 P&C carrier employment figure was originally 521,600, but was revised down to 520,600, “so the February number can be seen either as a gain from a revised 520,600, or as a retention of the previously-reported level.”
Hartwig says drawing longer-term conclusions from the February data is challenging, as interpretations differ depending on the period examined. “For example,” Hartwig explains, “for the 12 months ending in February 2013, P&C-carrier employment rose by 6,000 (up 1.2 percent). In contrast, for the 24 months ending in February 2013, P&C carrier employment dropped by 13,400 (from 535,000, down 2.5 percent).”
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