Insurance Labor Study Highlights Stabilizing Labor Market
February 19 2018 - 10:57AM
Business Wire
According to the latest iteration of the Semi-Annual U.S.
Insurance Labor Outlook Study conducted by The Jacobson Group and
Ward Group, a part of Aon plc (NYSE: AON), 58 percent of companies
polled intend to increase staff in 2018. In addition, the
unemployment rate for the insurance industry is at 2.2 percent.
“We are seeing staffing and hiring expectations level out as the
industry continues to stabilize,” says Gregory P. Jacobson,
co-chief executive officer of Jacobson. “Anticipated increases in
business volume and expansion into new markets continue to drive
hiring demands.”
Some additional key findings include the following:
- Seventy-nine percent of companies
expect an increase in revenue growth, down two points from the July
2017 survey.
- If the industry follows through on its
plans, we will see a 1.19 percent increase in industry employment
during the next 12 months.
- Twelve percent of companies are
planning to increase their use, up from 11 percent in January
2017.
For more highlights, download the full insurance labor outlook
study results summary. For commentary, view the recorded
webcast.
The insurance labor outlook study has been conducted
semi-annually since July 2009. Collecting revenue and hiring
projections from organizations across all sectors of the industry,
the survey provides a valuable look at the labor market outlook and
hiring trends.
The study’s next iteration will occur in July 2018. For details,
please contact Vince Albers of Ward Group at +1 (513) 746-2422 or
vincent.albers@wardinc.com.
About The Jacobson Group:
The Jacobson Group is the leading provider of talent to the
insurance industry. For nearly 50 years, Jacobson has been
connecting organizations with insurance professionals at all levels
across all industry verticals. We provide an array of services
including executive search, professional recruiting, temporary
staffing and subject matter experts. Regardless of the need or
situation, Jacobson is the insurance talent solution. Further
information is available at jacobsononline.com
About Ward Group®:
Ward Group is the recognized leader of benchmarking and best
practices studies for insurance companies. The firm analyzes
staff levels, compensation, business practices and expenses for all
areas of company operations and helps insurers measure results,
optimize performance and improve profitability. For more
information about Ward Group, visit www.wardinc.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20180219005403/en/
The Jacobson GroupPatricia Gorecki, Senior Content Coordinator+1
(312) 884-0448pgorecki@jacobsononline.comorWard GroupVince Albers,
Manager+1 (513) 746-2422vincent.albers@wardinc.com
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