Recently released government data has revealed that the insurance industry added 14,000 jobs in April, accounting for the vast majority of the growth in the finance and insurance sector.
Preliminary data from the Bureau of Labor Statistics Economic Situation report said that insurance accounted for 74% of the total growth in the financial activities super sector in April. The rest is credited to the real estate sector.
Insurance, which is a sub sector of the finance and insurance sector, as classified by the government, now employs 2.6 million workers. Unemployment stands at 2.2%, which is well below the national average of 4.4%.
This sector employs claims adjusters, claims investigators, insurance sales agents, and insurance underwriters.
In the last 12 months, the industry grew by a total of 56,400 jobs, while unemployment dropped by one percentage point from 3.2% in April last year.
Apart from financial activities, the BLS reported that jobs grew in the leisure and hospitality, healthcare and social assistance and mining sectors.
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