At TJG we take a couple of different approaches to understanding the changes in the labor market within our industry. Looking backwards is relatively easy as we can simply compile the monthly BLS data that focuses on the insurance industry and see what happened – in fact we do just that and release the summarized data to our clients shortly after the BLS releases their numbers. Click here if you want to see the February data.
As always, the more difficult and more valuable part of the exercise is to determine what is likely to happen in the future. Well, for the past three years TJG and Ward Group have been conducting a quarterly study of the industry’s labor market to better predict future trends (you can see the latest edition summarized by Insurance Journal).