The Jacobson Journal Blog

Insurance Talent Blog

PULSE of the U.S. Labor Market - January 2024

January 2024: Labor Market Pulse

Similar to December 2022 (which saw an unemployment rate of 3.5% that quickly fell in the following months), December 2023’s unemployment rate increased to 3.4% for insurance carriers and related activities. Despite this rise in unemployment, the industry added 4,500 jobs last month, contributing to a total gain of nearly 40,000 jobs in 2023. Open ... January 2024: Labor Market Pulse

Creating an Exceptional Employee Experience

Creating a Positive Employee Experience in Today’s Environment

In today’s environment, creating an engaging employee experience that transcends geographic boundaries and asynchronous schedules has become a priority for many insurance leaders. In our recent issue of Compass, Corey Pinkham, senior vice president, shares how to cultivate a work environment that positively impacts each individual. Below are just a few of the key takeaways ... Creating a Positive Employee Experience in Today’s Environment

December 2023: Labor Market Pulse

The overall U.S. labor market remains strong as we close out 2023, exceeding some economists’ expectations. November saw a 0.2-point drop in the U.S. unemployment rate and the addition of nearly 200,000 total jobs. Within the insurance carriers and related activities sector, unemployment increased slightly, yet remains low at 2.1%. Of note, the larger finance ... December 2023: Labor Market Pulse

Recruiter Report: Engaging Passive Candidates in Today’s Market

Recruiter Report: Engaging Passive Candidates in Today’s Market

In today’s environment, one of the challenges commonly coming up in our conversations with insurance leaders is the difficulty recruiting passive candidates. Individuals who are not actively looking are becoming reluctant to learn about new opportunities; or in some cases, going through the full interview process and ultimately staying with their current employer. In this ... Recruiter Report: Engaging Passive Candidates in Today’s Market

November 2023: Labor Market Pulse

While the unemployment rate for insurance carriers and related activities rose slightly in October, it remains low at 1.7%. At the same time, job openings for the larger finance and insurance sector are at their highest level since July 2022, reaching 479,000 in September* (nearly 200,000 more open positions than reported for September 2022, which ... November 2023: Labor Market Pulse

Creating a Comprehensive Onboarding Experience

With the pandemic ushering in new workplace dynamics, a comprehensive onboarding strategy tailored to virtual environments is critical. It’s a chance to lay the groundwork for the knowledge, connections and sense of belonging that will set an employee up for success throughout their tenure.In our recent issue of Compass, Judy Busby, senior vice president of ... Creating a Comprehensive Onboarding Experience

Health Highlights: Q4 2023

The healthcare space continues to evolve amid ongoing challenges, pressures and shifts. In our team’s recent conversations with leaders across all areas of health insurance, creating comprehensive human capital strategies remains top of mind. Today’s pace of change and challenging market requires the ability to be creative and flexible in leveraging talent and meeting members’ ... Health Highlights: Q4 2023

October 2023: Labor Market Pulse

The industry continues to face layered complexities and pressures, further compounding an already difficult talent landscape. The unemployment rate for insurance carriers and related activities continues to decline, dropping to 1% in September, compared to 3.8% for the overall U.S. economy. Given month-to-month fluctuations and a limited BLS sample size, the three month rolling average ... October 2023: Labor Market Pulse

Recruiter Report: Planning for a Long-Term Hybrid Workforce

Recruiter Report: Planning for a Long-Term Hybrid Workforce

The data in this blog was updated in September 2024. In our conversations with insurance leaders, an increasing number of companies are sharing their plans to remain hybrid for the long term. In fact, our Q3 2024 Insurance Labor Market Study found 72% of insurers currently offer hybrid work, with more than three-fourths expecting employees ... Recruiter Report: Planning for a Long-Term Hybrid Workforce

September 2023: Labor Market Pulse

Unemployment continues to decline within the insurance carriers and related activities sector, falling to 1.4% in August, despite a slight increase in the overall economy’s unemployment rate. Job openings within finance and insurance remain elevated compared to pre-pandemic numbers and total separations have declined compared to last year. The previously volatile labor market appears to ... September 2023: Labor Market Pulse

August 2023: Labor Market Pulse

Despite rising costs for health insurance and profitability issues within property and casualty, the industry’s talent landscape remains strong. The unemployment rate for insurance carriers and related activities dropped by more than 1.5 points last month, following a brief spike in June. Industry employment also continues to grow, with the sector adding nearly 30,000 jobs ... August 2023: Labor Market Pulse

Contingent Workers: Top 8 Mistakes to Avoid

The insurance industry is in a unique labor market, continuing to face a talent shortage, while talk of a looming economic recession continues. In today’s evolving and uncertain economy, temporary talent – whether it’s project-based teams or interim expertise – is often necessary to effectively meet business demands and accommodate shifting needs. If you’re revisiting ... Contingent Workers: Top 8 Mistakes to Avoid

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