Insurance Industry Adds 5,000 Jobs in October 2015

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The insurance industry gained 5,000 jobs for the month of October, according to the latest employment numbers from the U.S Bureau of Labor Statistics released on Friday, November 6, 2015.

The Economic Situation Report revealed that the insurance industry grew by 0.20 percent last month and now sits at 2,564,500 employed insurance workers with an unemployment rate of 2.34 percent. Over the past 12 months, the total number of employed insurance workers has increased by 76,800 or 3 percent from 2.48 million in October 2014, while the unemployment rate dropped by 1.3 percent from 3.7 percent.

The insurance carriers and related activities subsector, which includes insurance carriers, agencies and other brokerages, typically makes up more than half of the job growth within the financial activities supersector. In October, this subsector accounted for the majority of growth since significant losses also occurred within sibling sectors of financial activities supersector.

Across all industries, total nonfarm payroll employment increased by 271,000 jobs while the unemployment rate was unchanged at 5 percent. Over the last 12 months, employment growth has averaged 230,000 jobs per month. In October, job gains occurred in health care, retail trade, food services and drinking places, construction, and professional and business services.

The change in total nonfarm payroll employment for the months of August and September was revised from 136,000 to 153,000 and 142,000 to 137,000, respectively. With these revisions, employment gains in August and September combined were 12,000 more than previously reported. Over the past 3 months, job gains have averaged 187,000 per month.

Established in 2006, is the leading insurance jobs website for insurance careers. Currently the site has over 250,000 registered job seekers and 6,500 registered employers. Users can create a profile, upload their resume, apply to positions and engage in our social communities. Employers can post insurance job opportunities and browse a resume bank for applicants. Thousands of new insurance jobs are listed each month by geographic location and specialty, including: actuarial, adjuster, agents, claims jobs, clerical, customer service, health, life, risk management, sales, investigators, insurance underwriters, workers compensation and more.

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Bob Thomas
RSG, Inc.
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