The insurance industry is always changing with few constants; however, the month of January reflected one strong constant: employment growth.
The U.S. Department of Labor's Bureau of Labor Statistics (BLS) recently published data as of January 2017 on detailed insurance industry employment and found that employment in most segments of the insurance industry was up to varying degrees. Steven Weisbart, Ph.D., CLU, senior vice president and chief economist at the Insurance Information Institute summarized the latest trends across the insurance industry. Data for the last few months are preliminary and are often revised later, but revisions are usually small.
Although these trends aren't certain to continue, they do reflect a changing market for insurance – especially under a Republican president and Congress.
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Denny Jacob
Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at [email protected].
