CHICAGO – According to the latest iteration of the Semi-Annual U.S. Insurance Outlook Study conducted by The Jacobson Group and Ward Group, a part of Aon plc (NYSE: AON), 63 percent of companies polled intend to increase staff in 2018. In addition, the Bureau of Labor Statistics has reported that the unemployment rate for the insurance industry is at 1.7 percent. This remains significantly lower than the national average—reported at 3.9 percent.
“Expected increases in business volume and expansion into new markets are driving continued hiring,” says Gregory P. Jacobson, co-chief executive officer of Jacobson. “This organizational growth, coupled with a shallow talent pool and virtually non-existent industry unemployment, results in an increasingly competitive labor market.”
The study found that job vacancies are still moderately difficult to fill. However, recruiting is slightly less difficult in some disciplines than it was one year ago.
Some additional key findings include the following:
The insurance labor outlook study has been conducted semi-annually since July 2009. Collecting revenue and hiring projections from organizations across all sectors of the industry, the survey provides a valuable look at the labor market outlook and hiring trends.
The study’s next iteration will occur in January 2019. For details on how to participate or to request more information about the survey, please follow this link or contact Vince Albers of Ward Group at +1 (513) 746-2422 or email@example.com.
About The Jacobson Group:
The Jacobson Group is the leading provider of talent to the insurance industry. For nearly 50 years, Jacobson has been connecting organizations with insurance professionals at all levels across all industry verticals. We provide an array of services including executive search, professional recruiting, temporary staffing and subject matter experts. Regardless of the need or situation, Jacobson is the insurance talent solution. Further information is available at jacobsononline.com.
About Ward Group®:
Ward Group is the recognized leader of benchmarking and best practices studies for insurance companies. The firm analyzes staff levels, compensation, business practices and expenses for all areas of company operations and helps insurers measure results, optimize performance and improve profitability. For more information about Ward Group, visit ward.aon.com.
The Jacobson Group
Nicole M. St.Martin, Vice President and Marketing Communications Director
+1 (312) 884-0491
Vince Albers, Manager
+1 (513) 746-2422