Insurers see biggest monthly surge in hiring in two years
The U.S. insurance industry added 11,400 jobs in July, representing the largest one-month surge in hiring since 2017, Best’s Insurance News & Analysis reported. According to preliminary figures from the Labor Department’s Bureau of Labor Statistics, the job increase was 0.42% from July over June 2019. The job gains mark a sharp turnaround for the industry, which recorded a loss of 1,400 jobs in June over May, according to the previous BLS. The report did not give a reason for the job surge and noted that the figures are preliminary and could be adjusted before becoming final. The largest previous monthly increase was reported in 2017, when the insurance industry added 14,000 jobs in April over March of that year. Six of eight insurance industry sectors showed increases in June over May, led by reinsurance carriers (up 1.65% to 30,800 jobs).