NU Online News Service, June 7, 12:45 p.m. EDT
Employment in the property and casualty insurance industry decreased 1.8 percent in April compared to the same month a year ago, according to an Insurance Information Institute (I.I.I.) analysis of the U.S. Labor Department's Bureau of Labor Statistics data.
P&C insurance jobs in April 2011 are down 8,300 versus April 2010.
Compared to March 2011, employment is down by 1,800, or 0.4 percent. The I.I.I. says this month-to-month decrease is "to be expected as seasonal activity." P&C carrier employment went down in eight of the last 11 Aprils and was flat in another, I.I.I. says.
Employment in the P&C industry is down 6.9 percent since the recession began in December 2007. The overall U.S. employment decline over the same period is 5.6 percent, according to I.I.I.
The institute says it expects claims-adjusting jobs to increase in May and June data due to catastrophic tornado activity and other events in April and May. Compared to March, claims-adjuster jobs were down 100, or 0.2 percent, in April. There are 1,000 fewer jobs for this professional than there were in April 2010.
Increases in claims adjusters are not reflected in these numbers because the April survey was conducted before much of the tornado activity occurred during the month, I.I.I. speculates.
Agents and brokers added 400 jobs since March. Data from the bureau does not separate life agents from P&C agents, or agents from brokers.
While reinsurance employment in April 2011 is up by 500 compared with April 2010, employment is down by 100 since March 2011.
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