According to statistics released Dec. 4 by U.S. Labor Department's Bureau of Labor Statistics (BLS), for the month of October 2015, virtually every subsector of insurance industry employment was up, year over year, with many subsectors showing significant increases.
Compiled by the New York City-based Insurance Information Institute (I.I.I.), the numbers show that property and casualty (P&C) carrier employment rose by 600 (+0.1%) for the 12 months ending in October 2015, to 522,800. Although P&C carrier employment had been rising for the past 18 months, it slipped during May through September 2015. It is now nearly back to where it was in October 2014, says I.I.I.
Agents and brokers appear to be doing well, too. According to the BLS numbers, the agent/broker segment gained 23,600 jobs in October 2015 vs. October 2014 (up 3.3%) to 745,700 — with 9,600 new hires in the month of October 2015 alone.
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Rosalie Donlon
Rosalie Donlon is the editor in chief of ALM's insurance and tax publications, including NU Property & Casualty magazine and NU PropertyCasualty360.com. You can contact her at [email protected].
