P/C Insurers Added No Jobs, Agencies Added 1500, Latest Data Show
Earlier this month, the U.S. Labor Department published its November 2011 data on detailed insurance industry employment figures.
These latest figures show that in November, employment at insurance carriers rose overall, but that’s because of the gains from medical expense insurers, which added 1,600 jobs in November to the total of 374,800. Employment at P/C insurers did not change from October, staying at 452,300 jobs. Life insurer employment actually dropped by 100 compared to October, down to 374,800 jobs. Meanwhile, reinsurer employment was unchanged, staying at 27,500.
The agents/brokers sector did better. In November 2011, the number of agents and brokers (life and nonlife together) rose by 1,500 to 643,200. The number employed in claims adjusting rose by 300 to 48,400 (up for the second month in a row, but still generally below the 48,800 for all of 2010.) Third-party administration businesses lost 1,000 jobs, falling to 127,200. Title and other insurers gained 800 jobs, to the total of 64,900. Overall, the insurance industry gained 2,900 jobs in November, for the total of 2,212,300 jobs.
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