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UPFRONT

STATISTICS

An economy on the rise

THE STATES OF EMPLOYMENT

These were the six fastest- and slowest-growing states, in terms of employment, for 2014

+3.0%

Oregon

Now that the economy is finally recovering, it’s opening up a wealth of new insurance needs With the economy growing and the future looking brighter than it has for several years, many American businesses are feeling flush with optimism. Whether they’re small to medium-sized firms or multi-national corporations, the future looks bright on the job front. As new businesses pop up across the country, and as established firms look to hire more and more staff, a look at the latest round of job statistics reveals the industries that represent potential areas of growth for insurance producers in 2015 and beyond.

+3.4% Utah

-0.4% Alaska

252,000

Number of jobs the economy added in December 2014, according to the Bureau of Labor Statistics

5.6%

2.078M

unemployment rate as of December 2014, the lowest point since June 2008

Number of jobs the economy has added since December 2013

THE NATION’S FASTEST-GROWING BUSINESSES Industry

Sales growth

Electronic shopping and mail-order houses

20.5%

Software publishers

16.0%

Computer systems design and related services

15.2%

Investigation and security services

14.4%

Services to buildings and dwellings

14.0%

Management, scientific and technical consulting services

12.8%

Architectural, engineering and related services

12.2%

Employment services

11.9%

Specialized design services

11.9%

Advertising, public relations and related services

10.1%

8.6%

Private companies’ annual rate of sales growth

2.7%

North Dakota’s unemployment rate – lowest in the country

6.6%

Private companies’ net profit margin – the highest in three years

7.4%

DC’s unemployment rate – highest in the country

Source: SageWorks, The Private Company Report

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13/03/2015 6:02:04 AM

Insurance Business America issue 3.02  

The magazine for America’s insurance broking and advice community.

Insurance Business America issue 3.02  

The magazine for America’s insurance broking and advice community.