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Agent/Broker Employment Up

The agent/broker segment gained 1,200 jobs in August 2018 over August 2017 (up 0.1 percent) to 808,800.
October 10, 2018

The U.S. Labor Department’s Bureau of Labor Statistics (BLS) just published detailed data as of August 2018 on insurance industry employment.

The agent/broker segment gained 1,200 jobs in August 2018 over August 2017 (up 0.1 percent) to 808,800. Employment growth in this category in 2018 has been highly variable. It dropped in January 2018 (down 4,700) but mostly restored that in February (up 4,000); dropped again in March (down 800); rose again in April (up 1,000); was essentially flat in May (up 100); rose in June (up 1,200) and dropped in July and August (down 1,300 and 400, respectively). This continued a pattern from the end of 2017 (down 400 in November, up 500 in December). Employment totals in this subsector have stayed in the 800,000-810,000 range in the 19 months since February 2017.

Employment in the general U.S. economy continues to be strong. In August 2018, there were 2.42 million more people employed in the country than a year earlier (+1.6 percent)—an unusually strong increase.

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