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Agent/Broker Employment Rises

The agent/broker segment gained 5,600 jobs from April 2018 over April 2017.
June 5, 2018

The U.S. Labor Department’s Bureau of Labor Statistics just published April 2018 data, reported by the Insurance Information Institute (I.I.I.), on detailed insurance industry employment.

The agent/broker segment gained 5,600 jobs from April 2018 over April 2017 (up 0.7 percent) to 807,600. Employment growth in this category from 2013 through 2016 was extremely strong. Employment in this segment rose by 31,600 in 2013; by 52,300 in 2014; by 27,400 in 2015; and by 23,600 in 2016. However, the spurt slowed in 2017 (up by 10,200).

Agent/broker employment dropped in January 2018 (down 4,700), but was mostly restored in February (up 4,100), although both March and April 2018 were down months again (-800 and -300, respectively). Some of the 2013-2016 growth might simply have been a recovery from the drop in employment in this segment in the years 2007 to 2011, when employment dropped from 667,200 in January 2007 to 642,500 in February 2011 (down by 24,700).

READ: Insurance Industry Employment Trends: 1990 – April 2018

Employment in the general U.S. economy continues to be strong. In April 2018, there were 2.27 million more people employed than a year earlier.

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