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Insurance carriers shed jobs for another month despite staffing claims
Bureau of Labor Statistics data show insurance carriers and related activities cut 7,000 jobs in July, extending a streak of monthly declines over the past year.
Insurance Business reports that the insurance industry’s message on jobs is not matching the payroll data. Federal government figures point to a gradual employment pullback that has persisted for much of the last year, even as many carriers tell surveys they plan to maintain or grow headcount.
According to the Bureau of Labor Statistics July employment report, insurance carriers and related activities lost another 7,000 jobs last month. The article says the weakness has continued across prior months, with declines of about 5,700 jobs in March, 9,100 in April, and more than 10,000 in May, as reflected in BLS reporting.
The outlet also cites a larger year-over-year shift in seasonally adjusted federal data. It estimates employment fell from around 3.01 million workers in June 2025 to about 2.94 million in June 2026, a drop of nearly 70,000 jobs in a year, while unemployment within the sector rose to 2.7% in June from 1.6% in May and 1.4% in March.
Insurance Business highlights a disconnect between what carrier executives say and what appears in the data. It points to a Jacobson Group labor-market study, jointly run with Aon, in which 93% of carriers planned to increase or hold staff steady over the coming year, but also notes property-casualty headcount grew only 0.81% between January 2025 and January 2026, well below the 1.42% expected, alongside a year-over-year rise in involuntary turnover of 0.6 percentage points, with automation offered as an explanation.
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