Insurance Industry Adds 7,300 Jobs in February

The insurance industry saw a small increase in employment with the addition of 7,300 jobs for the month of February, according to the latest employment numbers from the U.S Bureau of Labor Statistics released on March 6, 2015. 

The insurance industry grew by 0.29 percent last month and now sits at roughly 2.52 million employed insurance workers. Over the past 12 months, the total number of employed insurance workers has increased by 3.47 percent from 2.44 million in February 2014. 

The finance and insurance sector as a whole only increased by 6,900 jobs as a result of losses within the credit intermediation and related activities subsector. Regardless, over two-thirds of the 10,000 new jobs within the financial activities supersector occurred within the finance and insurance sector.

Across all industries, total nonfarm payroll employment increased by 295,000 in February, while the unemployment rate edged down to 5.5 percent. Job gains primarily occurred within food services and drinking places, professional and business services, construction, health care, and in transportation and warehousing.   

After revisions, total nonfarm payroll employment for the month of December remained at 329,000 jobs while employment numbers were revised for the month of January, from 257,000 to 239,000. With these revisions, employment gains in December and January were 18,000 lower than previously reported. Over the past 3 months, job gains have averaged 288,000 per month.

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