November 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 1.9% in October.
The insurance carriers and related activities sector gained 4,800 jobs in May. The insurance carriers and related activities sector lost 5,500 jobs in October.
At more than 3 million jobs, industry employment increased by approximately 37,800 jobs compared to May 2023. Industry employment decreased by approximately 89,700 jobs compared to October 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 decreased to 4.1% in October and the overall economy gained 165,000 jobs.

INSURANCE INDUSTRY HIGHLIGHTS

  • On a year-to-year basis, September* insurance industry employment increased in reinsurance (up 4.3%) and title (up 0.1%). Job decreases were seen in claims (down 15.7%), life/health (down 3.5%), TPAs (down 3.4%), property and casualty (down 2.2%), and agents/brokers (down 1.9%).
  • On a year-to-year basis, September* saw weekly earnings increases in claims (up 5.3%), agents/brokers (up 4.2%), property and casualty (up 0.9%), and title (up 0.2%). TPAs decreased by 0.9%.
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.