We’re continuing to experience a stable insurance labor market. While the industry’s unemployment rate remains higher than 2024’s average, it is too early to tell if this will become a notable trend or if unemployment will soon drop back down. The BLS also performed its annual five-year revision in January, which adjusted employment numbers slightly down from what was previously reported. Regardless, January marked the industry’s 15th consecutive month of employment growth, and December’s* voluntary quits within the larger finance and insurance sector hit their highest level since June 2024.
 | Unemployment for the insurance carriers and related activities sector decreased to 3.1% in January. |
 | The insurance carriers and related activities sector gained 6,900 jobs in January. |
 | At more than 3 million jobs, industry employment increased by approximately 52,700 jobs compared to January 2024. |
 | The U.S. unemployment rate decreased to 4% in January and the overall economy added 143,000 jobs. |
- On a year-to-year basis, December* insurance industry employment saw job increases in agents/brokers (up 4.1%), reinsurance (up 1.9%), title (up 2.3%), property and casualty (up 0.8%) and TPAs (up 0.5%). Meanwhile, jobs decreased in claims (down 1.0%) and life/health (down 0.3%).
- On a year-to-year basis, December* saw weekly earnings increases in title (up 13.2%), TPAs (up 8.8%), agents/brokers (up 6.3%), property and casualty (up 5.7%) and claims (up 3.6%). **
BLS Reported Adjustments:
Adjusted employment numbers for December show the industry saw an increase of 11,600 jobs, compared to the previously reported increase of 13,300 jobs. The BLS continues to revise numbers to be most accurate, which may contribute to inconsistencies, depending on when reports were pulled.
*The BLS Job Openings and Labor Turnover Survey report and reports on wages and employment for the industry category are only available for two months prior.
**The BLS did not report on reinsurance and life/health insurance wages for the month of December.
The source for the data represented in PULSE is the U.S. Bureau of Labor Statistics. Insurance data is derived from the insurance carriers and related activities sector.