1. Insurance Industry Employment Trends: 1990-2015
Insurance Information Institute
August 2015
Robert P. Hartwig, Ph.D., CPCU, President & Economist
Insurance Information Institute  110 William Street  New York, NY 10038
Tel:  Cell:  

2. Overview of Insurance Sector Employment Changes*
Insurance Subsector
May
2015
Employment
June 2015
Change
CARRIERS
P-C Direct
525,700
526,400
+700
Life Direct
358,700
361,500
+2,800
Health/Medical Direct
515,600
517,700
+2,100
Title & Other Direct
77,300
77,900
+600
Reinsurers
25,300
25,500
+200
OTHERS
Agents/Brokers
731,600
733,300
+1,700
3rd-Party Administration
178,400
179,400
+1,000
Claims Adjusters
50,800
50,600
-200
*Data are through June 2015 and are preliminary (i.e., subject to later revision); seasonally adjusted. 2 2

3. Baselines: U.S. Employment Trends3 3

4. U.S. Nonfarm Employment, Monthly, 1990–2015*
Millions
*As of July 2015; not seasonally adjusted.
Note: Recessions indicated by gray shaded columns.
Sources: U.S. Bureau of Labor Statistics; National Bureau of Economic Research (recession dates); Insurance Information Institute. 4
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5. U.S. Employment in Service Industries, Monthly, 1990–2015*
Millions
*As of July 2015; not seasonally adjusted.
Note: Recessions indicated by gray shaded columns.
Sources: U.S. Bureau of Labor Statistics; National Bureau of Economic Research (recession dates); Insurance Information Institute. 5 5

6. Insurance Industry Employment Trends
From 1998 through 2013, total industry employment has stayed in a narrow band of million; in 2014 it rose above that band 6

7. U.S. Employment in the Direct P/C Insurance Industry: 1990–2015*
Thousands
Sometimes the BLS reclassifies employment within industries. When this happens, the change is spread evenly over a 12-month period (in this case March 2010-March 2011.
*As of June 2015; not seasonally adjusted; Does not including agents & brokers.
Note: Recessions indicated by gray shaded columns.
Sources: U.S. Bureau of Labor Statistics; National Bureau of Economic Research (recession dates); Insurance Information Institute. 7 7

8. U.S. Employment in the Direct Life Insurance Industry: 1990–2015*
Thousands
Every 4-5 years BLS reconciles its data with census data; sometimes this reclassifies employment within industries. This drop, spread over March 2004-March 2005, moved some people to the Health/Medical Expense sector.
*As of June 2015; not seasonally adjusted; Does not including agents & brokers.
Note: Recessions indicated by gray shaded columns.
Sources: U.S. Bureau of Labor Statistics; National Bureau of Economic Research (recession dates); Insurance Information Institute. 8 8

9. U.S. Employment in the Direct Health- Medical Insurance Industry: 1990–2015*
Thousands
*As of June 2015; not seasonally adjusted; Does not including agents & brokers.
Note: Recessions indicated by gray shaded columns.
Sources: U.S. Bureau of Labor Statistics; National Bureau of Economic Research (recession dates); Insurance Information Institute. 9 9

10. U.S. Employment in the Reinsurance Industry: 1990–2015*
Thousands
*As of June 2015; not seasonally adjusted; Does not including agents & brokers.
Note: Recessions indicated by gray shaded columns.
Sources: U.S. Bureau of Labor Statistics; National Bureau of Economic Research (recession dates); Insurance Information Institute. 10 10

11. U.S. Employment in Insurance Agencies & Brokerages: 1990–2015*
Thousands
*As of June 2015; not seasonally adjusted. Includes all types of insurance.
Note: Recessions indicated by gray shaded columns.
Sources: U.S. Bureau of Labor Statistics; National Bureau of Economic Research (recession dates); Insurance Information Institute. 11 11

12. U.S. Employment in Insurance Claims Adjusting: 1990–2015*
Thousands
*As of June 2015; not seasonally adjusted.
Note: Recessions indicated by gray shaded columns.
Sources: U.S. Bureau of Labor Statistics; National Bureau of Economic Research (recession dates); Insurance Information Institute. 12 12

13. U.S. Employment in Third-Party Administration of Insurance Funds: 1990–2015*
Thousands
*As of June 2015; not seasonally adjusted. Includes all types of insurance.
Note: Recessions indicated by gray shaded columns.
Sources: U.S. Bureau of Labor Statistics; National Bureau of Economic Research (recession dates); Insurance Information Institute. 13 13

14. www.iii.org Twitter: twitter.com/bob_hartwig
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