There is good news for the insurance industry overall from the U.S. Bureau of Labor Statistics (BLS).
In December 2014, on a year-over-year basis, virtually every subsector of insurance industry employment was up, said Dr. Robert P. Hartwig, CPCU, of the Insurance Information Institute (I.I.I.) with many subsectors "rising solidly." Even life carrier employment, which has generally trended downward, rose.
According to the BLS report released on Feb. 6, property and casualty (P&C) carrier employment dropped by 300 jobs, or -0.1%, in December 2014 versus November 2014, but this followed a sharp rise in November versus October (up 2,600). For the 12 months ending in December 2014, P&C carrier employment rose by 6,900, or 1.3% to 524,500. P&C carrier employment has shown a positive trend, generally rising for the last 12 months. It is now back to where it was in the fourth quarter of 2012, Hartwig says.
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Rosalie Donlon
Rosalie Donlon is the editor in chief of ALM's insurance and tax publications, including NU Property & Casualty magazine and NU PropertyCasualty360.com. You can contact her at [email protected].
