Employment in the property and casualty insurance industry declined in September 2010 compared to August, and declined by 2.9 percent compared to September 2009, casting doubt on hopes that industry employment trends were turning around, the Insurance Information Institute reported.
For p&c insurers, employment in September was down by 3,200 jobs, or 0.7 percent compared to August, according to an I.I.I. analysis of U.S. Bureau of Labor Statistics prepared by I.I.I. President Robert Hartwig. Employment dropped by 13,700 jobs compared to September 2009.
Steve Weisbart, I.I.I. vice president and chief economist, said hopes last month–when August job numbers for p&c insurers were reported as higher than July–that employment would continue to climb in the industry may have been more wishful thinking than fair analysis of data.
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