Overall U.S. unemployment decreased to 5.8% in May from 6.1% in April, according to the most recent job data from the Bureau of Labor Statistics. (Photo: FOTOGRIN/Shutterstock)
Unemployment for insurance carriers and related businesses increased slightly month-over-month in May to 2.5% but remains below the overall U.S. unemployment rate of 5.8%, according to the June 2021 edition of PULSE from The Jacobson Group. In April 2021, insurance-industry unemployment stood at 2%.
Since February 2021, the insurance industry as a whole lost 15,000 jobs, with the property & casualty, life, and health sectors losing 4,000 jobs each. This job loss is partly due to the tough labor market riff with job openings but too few interested prospects to fill positions, said the talent recruitment company, which also noted that figures may improve as the final adjusted numbers from the Bureau of Labor Statistics are released.
Source: The Jacobson Group Want to continue reading?
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Heather A. Turner
Heather A. Turner is the managing editor of ALM's NU Property & Casualty Group. She can be reached at [email protected].
