More Jobs in Insurance in 2013

The insurance industry saw considerable job growth in 2013.

InsuranceJobs.com, an employment website for insurance professionals, provided an overview of key employment trends in the insurance industry for December 2013 based on preliminary statistics reported by the U.S. Bureau of Labor Statistics.

The U.S. Bureau of Labor Statistics released a report Jan 10, 2014 announcing a 0.13 percent increase in the number of workers in the insurance industry from November 2013 – December 2013. The industry currently employs 2.384 million workers compared to 2.381 million in December 2013.

November marked six months of job growth for the insurance sector, a major feat in an economy where jobs are scarce. Specifically the insurance agent and broker subsectors are close to reaching their employment peak. The sectors have not seen numbers this high since July 2007 just before the economic recession of 2008. Right behind agents and brokers in job numbers are property/casualty insurers which added 1,800 jobs in November. The most recent reports from BLS show this is the highest number of jobs for the sector since June 2011.

In conjunction with the increase of jobs the insurance industry has seen a decrease in its unemployment rate. The unemployment rate dropped to 2.9 percent in November and then dropped again in December to 2.8 percent.