The US insurance industry experienced a 32% drop in new job postings in Q3 2023 compared with the previous quarter, with the highest share accounted for by Allstate with 3,669 job postings according to GlobalData’s analysis of insurance company job postings. GlobalData’s Insurance: Hiring Trends & Signals Q3 2023 report reveals comprehensive insights into hiring patterns, job roles, required skills, geographical trends, and key themes within the insurance industry, facilitating anticipation of future workforce needs. Buy the report here.
Notably, Business and Financial Operations Occupations jobs accounted for a 20% share of the US insurance industry new job postings in Q3 2023, down by 16% over the prior quarter.
Business and Financial Operations Occupations drive insurance industry hiring activity
Of the industry's total hiring activity, the highest number of new job postings were for Business and Financial Operations Occupations, which accounted for 20% of the total new job postings in Q3 2023 and were down by 36% year-on-year. Second highest were Management Occupations, which accounted for 12% and drop by 56% year-on-year, and third highest were Computer and Mathematical Occupations, which were 35% of the new job postings and 66% lower year-on-year.
Top five companies in insurance industry accounted for 32% of hiring activity
The highest number of jobs were posted by Allstate with 3,669, followed by UnitedHealth Group with 3,298, while the highest increase was at Elevance Health at 52%.
For further understanding of GlobalData's Insurance: Hiring Trends & Signals Q3 2023, buy the report here.