We continue to see a fairly stable market, with no radical changes so far this year. In April, we experienced a slight rise in the insurance industry’s unemployment rate; yet it remains in a range typical for the industry, at 2.6%.
Within the larger finance and insurance industry, hiring accelerated in March* hitting a rate of 2.5%, which is the highest recorded since 2022. Job openings also saw a slight uptick. At the same time, the layoff rate has remained unchanged since December 2024 at 0.5%, and the rate of quits was the highest we’ve seen in almost two years.
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 | Unemployment for the insurance carriers and related activities sector increased to 2.6% in April. |
 | The insurance carriers and related activities sector lost 100 jobs in April. |
 | At more than 3 million jobs, industry employment increased by approximately 41,800 jobs compared to April 2024. |
 | The U.S. unemployment rate remained at 4.2% in April and the overall economy added 177,000 jobs. |
- On a year-to-year basis, March* insurance industry employment saw job increases in agents/brokers (up 3.4%), TPAs (up 1.9%), property and casualty (up 1.4%), title (up 1.3%) and reinsurance (up 1.3%). Meanwhile, jobs decreased in life/health (down 0.2%) and claims (down 1.3%).
- On a year-to-year basis, March* saw weekly earnings increases in property and casualty (up 8.0%), agents/brokers (up 7.7%), claims (up 6.1%), TPAs (up 5.5%) and title (up 1.0%). **
Notes:
Adjusted employment numbers for March show the industry saw an increase of 1,900 jobs, compared to the previously reported increase of 3,200 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.