Employment in the FIRE industry rose 1.3% over last quarter adding 1668 employees. All sectors but Real Estate (65) increased. The largest sector gain was reported in Credit Agencies (61) up 564 employees. The continued impact of low interest rates was an increase of 423 in Mortgage Bankers & Brokers (616) where the bulk of the increase in Credit Agencies occurred. Insurance Carriers (63) increased by 502 employees. Expansions by two major medical insurance carriers and three casualty insurance companies accounted for much of the sector gain. Banking (60) added 307 employees. Insurance Agents (64) added 297 and Security & Commodity (62) added 277. Increases in Insurance Agents were spread over many accounts and solely in the Denver Metro Area. Increases in Security & Commodity were assisted by expansions at three large firms. Employment in Real Estate dropped by 358. Losses are typical to this quarter and the result of seasonal layoffs. Many real estate management firms hire additional summer help for landscape and pool maintenance.
ANNUAL
FIRE employment witnessed one of its strongest annual gains rising 8% and adding 9369 employees. All sectors participated in the endeavor. The strongest growth occurred in Insurance Carriers up 1973 employees. All areas of insurance provision rose but the largest gains were in accident and health followed by fire and casualty. More than 700 were added as a result of expansions in the operation of Accident and Health Plans (632) and about 550 for Fire & Casualty (633). Credit Agencies gained 1797 employees over a year ago. Mortgage banking was the strongest component of credit agencies adding 1115 employees. Employment in Banking (60) rose by 1765. Better than 400 employees were added as a result of SIC changes. Some expansions occurred in banking, check cashing and money transfer services. Insurance Agents (64) grew by 1385 employees. Growth has been steady over the year. Real Estate (65) added 1128 employees with growth resulting from increased service at condominium, time share and destination resorts.
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