The BLS revised its numbers for May and June, showing slower job growth than initially reported for the overall U.S. economy. May employment numbers were revised down to an increase of 19,000 jobs rather than the initially reported 144,000 jobs. June employment numbers were initially reported as a jump of 147,000 jobs, and now reflect an increase of 14,000 jobs.
The insurance industry was less impacted by the revisions. June was revised down from 3,026,400 jobs to 3,017,600 jobs; however, preliminary numbers show 7,500 of these jobs were gained back in July. The insurance industry’s unemployment rate also increased by 1 point, yet remains lower than the annual average of 2.4%.
For more labor market trends and to hear what the insurance industry can expect in the next 12 months, join us for our Q3 2025 Insurance Labor Market Study results webinar, taking place this afternoon at 1 p.m. CT. Register here: https://jcbsn.gr/2025q3-webinar.
 | Unemployment for the insurance carriers and related activities sector increased to 2.3% in July. |
 | The insurance carriers and related activities sector added 7,500 jobs in July. |
 | At more than 3 million jobs, industry employment increased by approximately 19,600 jobs compared to July 2024. |
 | The U.S. unemployment rate increased to 4.2% in July and the overall economy added 73,000 jobs. |
- On a year-to-year basis, June* insurance industry employment saw job increases in agents/brokers (up 2.1%), property and casualty (up 0.9%), title (up 0.8%), claims (up 0.5%), and TPAs (up 0.3%). Meanwhile, jobs decreased in reinsurance (down 2.6%) and life/health (down 1.8%).
- On a year-to-year basis, May* saw weekly earnings increases in all categories: property and casualty (up 8.6%), agents/brokers (up 8.4%), claims (up 6.2%), TPAs (up 5.1%) and title (up 4.3%). **
Notes:
Adjusted employment numbers for June show the industry saw a decrease of 8,100 jobs, compared to the previously reported decrease of 1,600 jobs. The BLS continues to revise numbers to be most accurate, which may contribute to inconsistencies, depending on when reports were pulled.
*The BLS Job Openings and Labor Turnover Survey report and reports on wages and employment for the industry category are only available for two months prior.
**The BLS has not reported on reinsurance and life/health insurance earnings since December 2024.
The source for the data represented in PULSE is the U.S. Bureau of Labor Statistics. Insurance data is derived from the insurance carriers and related activities sector.