Reversing gains seen in October, the insurance industry lost 3,400 jobs during the month of November, according to data released by the U.S. Bureau of Labor Statistics website. In addition, job gains seen in October were revised resulting in a net loss of 400 jobs in the industry, rather than the original 1,400 job gain reported last month by the USBLS.
The insurance industry reached an all-time high of 2,315,400 jobs in December 2007, but has now absorbed 147,600 jobs lost since the current economic downturn began.
My analysis last month that perhaps health care reform implementation had resulted in job gains appears to have been misplaced. But a 400 job loss in October, when compared to a 3,400 job loss in November, remains somewhat positive if only a minor speed bump on the downward track of industry employment.
Check back here each month for an updated blog post detailing insurance industry-wide job trends and analysis of the Bureau of Labor Statistics jobs data.
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