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The Jacobson Journal: An Insurance Talent Blog

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.

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Topics: Labor Market, Healthcare

May 2022: Labor Market Pulse

Posted by The Jacobson Group on May 10, 2022 2:01:06 PM

April saw strong job growth in the insurance labor market with the addition of nearly 20,000 jobs, according to the Bureau of Labor Statistics. Unsurprisingly, the unemployment rate for insurance carriers and related activities continued its steady decline since February, dropping to just 1.4% in April. Unemployment held steady at 3.6% for the overall U.S. economy, hitting 15-months of steady job growth. With reports wage growth isn’t keeping pace with rising inflation, we’re continuing to see many clients rethink their compensation and overall retention strategies. For more on comprehensive retention strategies, view our latest white paper: Retaining Top Talent in Today’s Competitive Labor Market.

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Topics: Labor Market, PULSE

April 2022: Labor Market Pulse

Posted by The Jacobson Group on Apr 5, 2022 2:58:33 PM

The insurance labor market remains incredibly tight, with a slight drop in unemployment and the loss of 1,400 jobs in March. Unemployment also fell for the overall U.S. economy, which has seen a 14-month streak of steady job growth. Job openings within the larger finance and insurance sector remain relatively high; yet, the industry continues to lack available talent to fill these open roles.

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Topics: Labor Market, PULSE

Insurance Labor Study Results Reveal Record-Breaking Recruiting Difficulty

Posted by The Jacobson Group on Mar 22, 2022 12:59:12 PM

Throughout the past year, insurers have faced a tight – and often tumultuous – labor market. More seasoned professionals are continuing to retire, individuals of all levels are leaving the workforce amid “the Great Resignation” and we’re experiencing “the Great Reshuffle” of talent. Our recent Q1 2022 Insurance Labor Market Study indicates the recruiting climate has reached record difficulty and will likely become more challenging as we continue through 2022.

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Topics: Labor Market, Recruitment

March 2022: Labor Market Pulse

Posted by The Jacobson Group on Mar 10, 2022 3:27:30 PM

According to the Bureau of Labor Statistics, January* saw the largest number of open finance and insurance jobs in at least two decades. Hires and quits are also relatively high, further illustrating the industry reshuffling that has occurred throughout the last several months.

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Topics: Labor Market, PULSE