How Does Insurance Impact North Carolina's Job Market?

The number of North Carolinians employed in all sectors of the insurance industry has risen slightly between 2005 and 2006, according to the Employment Security Commission of North Carolina.

North Carolina Employment in Insurance 2005-2006

 

 

Estimated
Employment

Estimated
Entry
Wage

Estimated
Average
Wage

Estimated
Experienced
Wage

Insurance Claims and Policy Processing Clerks

2006

2005

5,180

5,240

$23,352

$22,790

$30,868

$29,870

$34,626

$33,410

Insurance Underwriters

2006

2005

2,890

2,310

$34,102

$32,750

$53,344

$51,510

$62,965

$60,890

Insurance Sales Agents

2006

2005

7,540

7,770

$23,295

$23,720

$50,729

$49,720

$64,446

$62,710

Source: Employment Security Commission of North Carolina.

By way of comparison, North Carolina's growth in insurance employment tracks closely with the industry as a whole nationwide. During the past 10 years, property/casualty insurance employment increased slightly.

Total U.S. Employment in Insurance, Annual Averages 1995-2005 (In thousands)

Year

Industry Segment

All Industry

  Direct Property/Casualty Direct life and health insurance carriers
 Insurance agencies, brokerages, and related services  

1995

484.1

807.4

712.6

2004.1

1996

485.4

788.0

726.4

1999.8

1997

490.7

797.4

744.1

2032.2

1998

503.7

816.8

766.3

2086.8

1999

511.9

815.3

783.4

2110.6

2000

508.3

808.8

787.8

1596.6

2001

503.3

807.7

803.2

2617.5

2002

496.6

791.1

820.4

2108.1

2003

502.2

789.0

837.4

2128.6

2004

496.2

764.4

860.1

2120.7

2005

491.3 (p)

752.6 (p)

871.7 (p)

2115.6 (p)

Source: U.S. Department of Labor, Bureau of Labor Statistics.