March 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 1.8% in February.
The insurance carriers and related activities sector gained 4,800 jobs in May. The insurance carriers and related activities sector gained 800 jobs in February.
At more than 3 million jobs, industry employment increased by approximately 37,800 jobs compared to May 2023. Industry employment decreased by approximately 45,400 jobs compared to February 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 increased to 4.4% in February and the overall economy lost 92,000 jobs.

INSURANCE INDUSTRY HIGHLIGHTS

  • On a year-to-year basis, January* insurance industry employment was unchanged for property and casualty, and agents/brokers. Increases were seen for title (up 1.0%) and TPAs (up 0.8%). Meanwhile, jobs decreased in claims (down 21.2%), life/health (down 2.9%) and reinsurance (down 1.0%).
  • On a year-to-year basis, January saw weekly earnings increases in all categories: title (up 9.0%), agents/brokers (up 8.5%), TPAs (up 6.1%), claims (up 5.0%), and property and casualty (up 3.4%). **

Notes:

The BLS continues to revise numbers to be most accurate, which may contribute to inconsistencies, depending on when reports were pulled. 

**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.