June 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 decreased to 1.6% in May.
The insurance carriers and related activities sector gained 4,800 jobs in May. The insurance carriers and related activities sector lost 10,700 jobs in May.
At more than 3 million jobs, industry employment increased by approximately 37,800 jobs compared to May 2023. Industry employment decreased by approximately 72,900 jobs compared to May 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 remained unchanged at 4.3% in May and the overall economy gained 172,000 jobs.

INSURANCE INDUSTRY HIGHLIGHTS

  • On a year-to-year basis, April* insurance industry employment increased in title (up 2.3%) and reinsurance (up 1.7%). Agents/brokers remained unchanged, while job decreases were seen in claims (down 21.9%), life/health (down 3.7%), TPAs (down 2.0%), and property and casualty (down 1.5%).
  • On a year-to-year basis, April* saw weekly earnings increases in agents/brokers (up 6.7%), title (up 4.7%) and TPAs (up 2.9%). Claims remained unchanged, while property and casualty was down 0.2%.
  • Within the larger finance and insurance sector, voluntary quits decreased from 93,000 to 71,000 for April.*
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.