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The Jacobson Journal: An Insurance Talent Blog

November 2023: Labor Market Pulse

Posted by The Jacobson Group on Nov 7, 2023 7:11:57 PM

While the unemployment rate for insurance carriers and related activities rose slightly in October, it remains low at 1.7%. At the same time, job openings for the larger finance and insurance sector are at their highest level since July 2022, reaching 479,000 in September* (nearly 200,000 more open positions than reported for September 2022, which saw a notable drop). Even as overall movement within the industry appears to be stabilizing, low unemployment and an abundance of opportunities means there’s continued competition for talent, making retaining current employees even more important. 

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Topics: Labor Market, PULSE

Health Highlights: Q4 2023

Posted by The Jacobson Group on Oct 25, 2023 8:38:04 PM

The healthcare space continues to evolve amid ongoing challenges, pressures and shifts. In our team’s recent conversations with leaders across all areas of health insurance, creating comprehensive human capital strategies remains top of mind. Today’s pace of change and challenging market requires the ability to be creative and flexible in leveraging talent and meeting members’ needs. 

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Topics: Labor Market, Managed Care, Healthcare

October 2023: Labor Market Pulse

Posted by The Jacobson Group on Oct 11, 2023 11:30:29 AM

The industry continues to face layered complexities and pressures, further compounding an already difficult talent landscape. The unemployment rate for insurance carriers and related activities continues to decline, dropping to 1% in September, compared to 3.8% for the overall U.S. economy. Given month-to-month fluctuations and a limited BLS sample size, the three month rolling average of 1.3% may paint the most accurate picture of the current situation.

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Topics: Labor Market, PULSE

September 2023: Labor Market Pulse

Posted by The Jacobson Group on Sep 6, 2023 3:20:28 PM

Unemployment continues to decline within the insurance carriers and related activities sector, falling to 1.4% in August, despite a slight increase in the overall economy’s unemployment rate. Job openings within finance and insurance remain elevated compared to pre-pandemic numbers and total separations have declined compared to last year. The previously volatile labor market appears to be settling; however, recruiting remains a challenge. 

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Topics: Labor Market, PULSE

August 2023: Labor Market Pulse

Posted by The Jacobson Group on Aug 8, 2023 4:22:37 PM

Despite rising costs for health insurance and profitability issues within property and casualty, the industry’s talent landscape remains strong. The unemployment rate for insurance carriers and related activities dropped by more than 1.5 points last month, following a brief spike in June. Industry employment also continues to grow, with the sector adding nearly 30,000 jobs since the beginning of 2023. 

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Topics: Labor Market, PULSE