We’re experiencing continued job growth as we reach the mid-point of 2023. The insurance carriers and related activities sector added jobs for the third consecutive month, reaching a new high watermark of 2,939,200 in May. The industry’s unemployment rate increased to 2.5%; however, it’s likely this will fall in the coming months, consistent with a previous spike in December 2022.
The Jacobson Group
Recent Posts
A job posting is often a potential candidate’s first exposure to a role. In today’s environment, insurance job openings are abundant, making it essential to cut through the noise and resonate with the right individuals. If you’re included within the 67% of insurers planning to hire this year, the below checklist can serve as a valuable guide to ensure your posting is as compelling as possible.
Topics: Recruitment, Job Search
Infographic: Insurance Industry’s Succession Readiness
Posted by The Jacobson Group on May 17, 2023 2:21:20 PM
As insurers aim to stay competitive in the challenging and volatile labor market, strategic succession planning and clear employee development opportunities are essential. Recently, The Jacobson Group conducted a study to better gauge the industry’s succession planning readiness. Below we highlight a few of the study’s key findings.
Topics: Succession Planning
The U.S. labor market remains resilient – despite some economists’ predictions – as we enter May. The insurance carriers and related activities unemployment rate saw just a slight increase to 1.6%; and unemployment for the overall U.S. economy dropped to 3.4%, which along with January 2023, marks a 54-year low. Numbers from the Bureau of Labor Statistics also indicate that insurance industry employment hit a new high watermark in April, at nearly 2,937,000 jobs.
Topics: Labor Market, PULSE
Q1 Insurance Labor Study Results: Continued Growth in 2023
Posted by The Jacobson Group on Apr 13, 2023 9:30:00 AM
As we move through 2023, insurers continue to face the challenges of a tight labor market. The industry’s unemployment rate remains low and job openings are high, according to the Bureau of Labor Statistics. However, 67% of insurers plan to increase their headcounts this year, according to our recent Q1 2023 Insurance Labor Market Study, conducted in partnership with Aon plc. Despite a looming recession and continued economic uncertainty, carriers have a positive outlook for the remainder of the year in terms of both staff and revenue growth.
Topics: Labor Market