In 2023, employee hours in the US insurance, reinsurance, and pension funding sector were slightly below 5.54 billion, according to historical data. From 2024 to 2028, forecasted year-on-year growth in employee hours ranges from 1.3% to 1.4%. This indicates a steady increase in the sector's workforce, with a compound annual growth rate (CAGR) of approximately 1.28% over the five-year period.
Future trends to watch for include:
- Impact of technology and automation on workforce needs, potentially affecting growth rates.
- Regulatory changes influencing employment dynamics within the sector.
- Market demand fluctuations linked to economic conditions and consumer behavior affecting employment.