Insurance Carriers and Related Activities: NAICS 524
About the Insurance Carriers and Related Activities subsector
The insurance carriers and related activities subsector is part of the finance and insurance sector.
Industries in the Insurance Carriers and Related Activities subsector group establishments that are primarily engaged in one of the following: (1) underwriting (assuming the risk, assigning premiums, and so forth) annuities and insurance policies or (2) facilitating such underwriting by selling insurance policies, and by providing other insurance and employee-benefit related services.
North American Industry Classification System
The insurance carriers and related activities subsector consists of these industry groups:
- Insurance Carriers: NAICS 5241
- Agencies, Brokerages, and Other Insurance Related Activities: NAICS 5242
Workforce Statistics
This section provides information relating to employment and unemployment in insurance carriers and related activities.
While most data are obtained from employer or establishment surveys, information on industry unemployment comes from a national survey of households.
The following tables present an overview of the industry including
the number of jobs,
the unemployment rate of those previously employed in the industry,
union membership and representation,
mass layoffs,
data for occupations common to the industry,
and projections of occupational employment change.
Employment, Unemployment, and Layoffs
(Source: Current Employment Statistics, Current Population Survey, Mass Layoff Statistics)
Union Membership and Representation
Data series |
Back data |
2008 |
2009 |
2010 |
2011 |
Union membership and representation |
|
Members of unions (percent of wage and salary workers) |
|
1.9% |
1.5% |
1.6% |
1.2% |
Represented by unions (percent of wage and salary workers) |
|
2.4% |
2.2% |
2.1% |
1.5% |
(Source: Current Population Survey)
Extended Mass Layoffs
(Source: Mass Layoff Statistics)
Employment by Occupation
(Source: Occupational Employment Statistics)
Projections
For projected (future) employment estimates, see the National Employment Matrix, which includes employment estimates by industry and occupation for insurance carriers and related activities.
(Source: Office of Occupational Statistics and Employment Projections)
Earnings and Hours
This section presents data on employee earnings and weekly hours.
The latest industry averages of hourly earnings and weekly hours, as well as weekly earnings by union membership status, are shown.
In addition, recent hourly and annual earnings are shown for occupations commonly found in insurance carriers and related activities.
This section also contains information on the average cost of benefits paid by employers, as well as recent rates of change in wages and total compensation.
Earnings and Hours of All Employees
(Source: Current Employment Statistics)
Earnings and Hours of Production and Nonsupervisory Employees
(Source: Current Employment Statistics)
Union Membership and Representation
(Source: Current Population Survey)
Earnings by Occupation
Data series |
Wages, 2011 |
Hourly |
Annual |
Median |
Mean |
Median |
Mean |
Claims adjusters, examiners, and investigators |
$27.70 |
$28.93 |
$57,620 |
$60,160 |
First-line supervisors/managers of office and administrative support workers |
$27.55 |
$29.12 |
$57,300 |
$60,580 |
Insurance claims and policy processing clerks |
$16.94 |
$17.71 |
$35,230 |
$36,850 |
Insurance sales agents |
$22.88 |
$30.39 |
$47,590 |
$63,220 |
Insurance underwriters |
$29.30 |
$32.55 |
$60,940 |
$67,700 |
(Source: Occupational Employment Statistics)
Employer Compensation Costs
Data series |
Back data |
3rd quarter 2011 |
4th quarter 2011 |
1st quarter 2012 |
2nd quarter 2012 |
12-month percent change |
|
Total compensation |
|
2.4% |
2.7% |
1.4% |
1.3% |
Wages and salaries |
|
1.8% |
2.1% |
1.9% |
1.8% |
(Source: Compensation Cost Trends)
(Source: Compensation Cost Trends)
Work-related Fatalities, Injuries, and Illnesses
This section presents data for the industry on the number of workplace fatalities and the rates of workplace injuries and illnesses per 100 full-time workers in insurance carriers and related activities. An injury or illness is considered to be work-related if an event or exposure in the work environment either caused or contributed to the resulting condition or significantly aggravated a pre-existing condition.
(Source: Injuries, Illnesses, and Fatalities)
Prices
This section provides industry-specific pricing information. The producer price index measures the percentage change in prices that domestic producers receive for goods and services. The prices included in the producer price index are from the first commercial transaction.
Data series |
Back data |
May 2012 |
Jun. 2012 |
Jul. 2012 |
Aug. 2012 |
Producer price index |
|
122.4 |
122.5 |
122.6 |
122.7 |
Percent change from previous month |
|
0.0% |
0.1% |
0.1% |
0.1% |
(Source: Producer Price Indexes)
Workplace Trends
This section presents data on the number of establishments in insurance carriers and related activities.
Establishments
(Source: Quarterly Census of Employment and Wages)
Other BLS Resources
Career Guide to Industries
See insurance in the Career Guide to Industries.
Data extracted on:
September 27, 2012