Insurance industry employment year over year was up for every sector— save one — in September, according to data published Friday by the U.S. Labor Department's Bureau of Labor Statistics (BLS) and compiled by the New York City-based Insurance Information Institute.

For the 12 months ending in September, Property and Casualty (P&C) carrier employment rose by 3,000, or 0.6%, to 523,900. But employment in this category was down 1,200, or 0.2%, in September from August.

P&C carrier employment has been rising for the past 18 months for the most part, but has slipped in the past three months. It is now back to where it was in January — and before that, in December 2012.

Year-over-year employment by life/annuity carriers rose in September, up 17,500, or 5% to 365,700.

Life/annuity carrier employment stayed in a range of 340,000, plus or minus 2,000, for all of 2013 and half of 2014, but rose in June 2014. In prior years, it was higher — before 2004, for example, it was over 400,000. However, on a month-to-month basis in September, life/annuity carrier employment fell by 1,000 — the first monthly drop in the past 17 consecutive months.

The health carrier segment rose sharply — up 27,000, or 5.4%, to 523,200 in September versus a year ago.

Year-over year employment in the agent/broker segment saw a gain of 18,900 jobs, up 2.6 percent, to 736,000.

Among the smaller insurance industry segments:

  • Reinsurance carrier employment rose in September 2015 vs. September 2014, up 300, or 1.2%, to 25,600.
  • Employment at independent claims-adjusting firms on a year-over-year basis for September fell by 2,100 (4%) to 51,000.
  • Year-over-year employment in the category of third-party administration of insurance funds rose by 3,900 (2.2%) to 177,400.

Also on Friday, the BLS reported that the United States added 271,000 jobs in October. The report also shows the unemployment rate dropping to 5%, a level not seen since April 2008, after two months in a row at 5.1%. Economists were anticipating just 177,000 payroll additions and for the unemployment rate to remain steady.

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