The first three quarters of the year has been an undulation of small gains that average 6,200 jobs a month, and minimal losses of 1,000 to 1,600 jobs.
December 29, 2017
The insurance industry lost 2,300 jobs in November according to preliminary numbers released by the U.S. Bureau of Labor Statistics’ Economic Situation report released on Friday, December 8, 2017.
“October and November mark the first consecutive job losses of the year,” said Jay Rollins, owner of the insurance employment website InsuranceJobs.com. “The first three quarters of the year have been an undulation of small gains that average 6,200 jobs a month, and minimal losses of 1,000 to 1,600 jobs. So far, the last quarter of the year is responsible for losing over 70 percent of the 11,000 jobs gained in September.”
The insurance industry now sits at 2,631,700 employed persons with an unemployment rate of 1.7 percent. “Since the beginning of the year, the unemployment rate has averaged 2.2 percent,” said Rollins.
Across all industries, total nonfarm payroll employment grew by 228,000 jobs in November, while the unemployment rate and the number of unemployed persons held at 4.1 percent and 6.1 million, respectively. “Since the beginning of the year, employment growth has averaged 174,000 jobs per month. In 2016, employment growth averaged slightly higher at 187,000 jobs a month.”
Employment gains for the month largely occurred in professional and business services, manufacturing, and healthcare.
Established in 2006, InsuranceJobs.com is the leading insurance jobs website for insurance careers. Currently, the site has over 250,000 registered job seekers and 6,500 registered employers. Users can create a profile, upload their resume, apply for…