<img src="//bat.bing.com/action/0?ti=5163453&amp;Ver=2" height="0" width="0" style="display:none; visibility: hidden;">

The Jacobson Journal: An Insurance Talent Blog

September 2022: Labor Market Pulse

Posted by The Jacobson Group on Sep 7, 2022 1:12:08 PM

The industry’s labor market remains strong with accelerating wage growth and continued low unemployment. Wage inflation for the industry is high, trending toward an overall 6.3 aggregate percent increase in 2022, compared to just 0.8 in 2021. This increase is even more pronounced for property and casualty carriers, which are trending toward a 10.5 aggregate percent increase, compared to -0.3 in 2021; and life and health carriers, which are trending toward 7.4, compared to 0.8 in 2021.

Read More

Topics: Labor Market, PULSE

August 2022: Labor Market Pulse

Posted by The Jacobson Group on Aug 9, 2022 3:29:57 PM

Competition for talent continues, with job openings in finance and insurance reaching a record level of 401,000 in June*, surpassing January’s revised record of 376,000 (originally reported as 411,000) and contributing to an average level of 367,000 open roles for 2022 so far. Comparatively, the same timeframe in 2021 (January through June), saw an average of just 252,000 open positions.

Read More

Topics: Labor Market, PULSE

July 2022: Labor Market Pulse

Posted by The Jacobson Group on Jul 12, 2022 4:09:11 PM

While insurance unemployment continued to rise in June, the industry has added nearly 30,000 jobs since the start of the year. Within the larger finance and insurance category, job openings remain elevated amid a challenging recruiting climate. Additionally, pay continues to be relatively high for carriers although overall wage growth appears slightly slowed.

We’re continuing to see a realignment within the industry as insurers establish more finite parameters around long-term work environments and professionals evaluate their personal and professional needs. We invite carriers to share their expectations for the next 12 months by participating in our Q3 2022 Insurance Labor Market Study.

Read More

Topics: Labor Market, PULSE

June 2022: Labor Market Pulse

Posted by The Jacobson Group on Jun 7, 2022 2:09:16 PM

Industry unemployment remains low, and while May saw a decrease in employment compared to April, insurance has gained more than 17,000 new jobs since the start of 2022. Movement persists with both quits and job openings remaining high.

As comfort levels increase, in-person conferences and networking events are picking up pace across all industry sectors, enabling professionals to convene on a large scale. Insurers are also more firmly developing their plans and expectations for moving forward. We’re seeing organizations determine their longer-term work environments – whether it’s virtual, in person or hybrid. While acknowledging individual employees’ preferences and needs continues to be important, many organizations are more clearly defining these parameters. As a result, the industry’s reshuffling will likely become more of a realignment, with professionals seeking out the organizations that best meet their desired work styles.

Read More

Topics: Labor Market, PULSE

Health Highlights: Q2 2022

Posted by The Jacobson Group on May 13, 2022 1:00:00 PM

The health insurance industry is facing a number of unknowns while continuing to evolve in the pandemic’s wake. Our team has frequent conversations with health insurance leaders across the country, keeping a pulse on how they are preparing for the unexpected, while accommodating the needs of both their employees and members. Below are a few key areas that are on our radars as we approach the second half of 2022.

Read More

Topics: Labor Market, Healthcare