PULSE Newsletter

Monthly Insights on the Insurance Labor Market

July 2025: Labor Market PULSE

While the insurance industry saw a slight decrease in employment in June, the industry’s unemployment rate also dropped – hitting its lowest point since September 2023 at 1.3%. The dip of 1.6 points is the largest we’ve experienced since July 2023, when the unemployment rate then stayed below 2% for multiple months. However, similar to ... July 2025: Labor Market PULSE

June 2025: Labor Market PULSE

May saw insurance industry unemployment tick up slightly to 2.9%. At the same time, April numbers show a decrease in job openings for the larger finance and insurance industry, while layoff levels were the highest seen since November 2022. This slight change in numbers doesn’t indicate much at this point, but it’s something to keep ... June 2025: Labor Market PULSE

May 2025: Labor Market PULSE

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 ... May 2025: Labor Market PULSE

April 2025: Labor Market PULSE

March labor market data remained relatively unchanged compared to January and February. Insurance industry unemployment continued to drop, lowering to 2.1%, which is consistent with 2024’s average. The overall U.S. economy experienced a slight increase in its unemployment rate, rising from 4.1% to 4.2%. However, the U.S. workforce also saw a substantial increase in employment ... April 2025: Labor Market PULSE

March 2025: Labor Market PULSE

Rounding out the first quarter of 2025, the latest numbers show continued stability in the insurance labor market. Consistent with past years, unemployment dropped back down to 2.5 (less than half a point from 2024’s overall average). At the same time, total employment was up both month-over-month and year-over-year in January. According to our Q1 ... March 2025: Labor Market PULSE

February 2025: Labor Market PULSE

We’re continuing to experience a stable insurance labor market. While the industry’s unemployment rate remains higher than 2024’s average, it is too early to tell if this will become a notable trend or if unemployment will soon drop back down. The BLS also performed its annual five-year revision in January, which adjusted employment numbers slightly ... February 2025: Labor Market PULSE

January 2025: Labor Market PULSE

The industry remains stable moving into the new year, adding 52,700 jobs throughout 2024 and continuing its steady post-pandemic growth. Despite slight spikes in December and August, the annual average unemployment rate for insurance carriers and related activities in 2024 was 2.1%, similar to 2023’s average of 2%. While insurance unemployment reached 3.2% in December ... January 2025: Labor Market PULSE

December 2024: Labor Market PULSE

We’re closing out 2024 with a stable labor market. The insurance industry unemployment rate continues to be low and revised numbers from the Bureau of Labor Statistics show 13 consecutive months of employment growth. Additionally, all insurance industry categories we report on saw both weekly wage and employment growth in October*. Meanwhile, the greater U.S. ... December 2024: Labor Market PULSE

November 2024: Labor Market PULSE

In October, we saw the unemployment rate for insurance carriers and related activities continue its decline from 3.1% in August, lowering to 1.5%. Meanwhile, the overall U.S. unemployment rate was unchanged at 4.1%. While the labor market may be slightly cooling, it remains stable. The Bureau of Labor Statistics reported a decrease of 1,400 industry ... November 2024: Labor Market PULSE

October 2024: Labor Market PULSE

After rising to 3.1% in August, the unemployment rate for the insurance carriers and related activities sector dropped to 2.3% in September. The overall U.S. unemployment rate remains consistent, dropping just a tenth of a point. The industry also added jobs, marking its 11th consecutive month of job growth. Within the larger finance and insurance sector, ... October 2024: Labor Market PULSE

September 2024: Labor Market PULSE

While the insurance carriers and related activities sector saw an uptick in unemployment for August, the next few months will reveal whether this is a notable trend. The industry experienced two similar spikes last year, in December (to 3.4%) and in June (to 3.2%). However, in both instances the unemployment rate quickly lowered back to ... September 2024: Labor Market PULSE

August 2024: Labor Market PULSE

The BLS data reflects a relatively stable insurance workforce as we move through August. The unemployment rate for insurance carriers and related activities rose slightly in July, yet remains low at 1.9%, while employment continues to increase. Within the larger finance and insurance sector, voluntary quits in June* were at their highest level since December ... August 2024: Labor Market PULSE

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