Property and casualty insurers shed 1,400 jobs in April compared to March, an unusual occurrence that bucks the recent trend of employment gains for April, according to Insurance Information Institute President Robert Hartwig.
In a I.I.I. analysis of the latest U.S. Labor Department's Bureau of Labor Statistics data, Hartwig notes that P&C carrier employment increased in 17 of the 24 Aprils from 1990 to 2013. He also says that employment for this subsector has stayed in a range from 515,000 to 523,000 since September 2011, but adds that range is well below the employment figures from 1997 to 2005.
Hartwig contends that "technology and productivity have affected employment, enabling carriers to do more work with fewer people: P&C carrier employment is now about where it was in the late spring 1993."
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