August 2026: Labor Market PULSE

Posted by The Jacobson Group

AT-A-GLANCE LABOR MARKET NUMBERS

Unemployment for the insurance carriers and related activities sector decreased to 1.8% in May. Unemployment for the insurance carriers and related activities sector increased to 3.3% in July.
The insurance carriers and related activities sector gained 4,800 jobs in May. The insurance carriers and related activities sector lost 6,700 jobs in July.
At more than 3 million jobs, industry employment increased by approximately 37,800 jobs compared to May 2023. Industry employment decreased by approximately 81,000 jobs compared to July 2025.
The U.S. unemployment rate slightly increased to 4% in May and the overall economy added 257,000 jobs.

The U.S. unemployment rate slightly decreased to 4.1% in July and the overall economy lost 23,000 jobs.

INSURANCE INDUSTRY HIGHLIGHTS

  • On a year-to-year basis, June* insurance industry employment increased in reinsurance (up 2.6%) and title (up 1%). Job decreases were seen in claims (down 19.7%), life/health (down 3.8%), TPAs (down 2%), property and casualty (down 1.4%), and agents/brokers (down 0.7%).
  • On a year-to-year basis, June* saw weekly earnings increases across the board with agents/brokers up 5.3%, title up 4.3%, claims up 2.3%, TPAs up 2.1%, and property and casualty up 1.6%.
Notes:

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 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.