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Over 7,000 business establishments in Ohio employ 120,626 people in the Insurance Industry. Employment is expected to grow 1% a year to 2015, adding 6,323 workers, outpacing the national growth rate. In an analysis of the top ten states by employment size and industry concentration, Ohio is expected to grow at the second fastest pace.
Every year, the Insurance Industry has roughly 2,000 job openings for new and replacement jobs. The core of the industry is found in five occupations: insurance sales agents; claims adjusters, examiners, and investigators; insurance underwriters; insurance appraisers, auto damage; and actuaries. For those five occupations, demand is for 728 employees on an annual basis, while Ohio higher education programs are producing 56 graduates. In the absence of a strategy, the gap will widen. Negative impacts include foregone income taxes to communities, foregone sales opportunities to businesses, and increased industry competition which could put upward pressure on wages.
This report provides an overview of the Insurance Industry and its key occupations, using a base year of 2010 with projections to the year 2015.
Business | Economics | Insurance | Social and Behavioral Sciences
Ohio Board of Regents , & Wright State University, Center for Urban and Public Affairs (2011). State of Ohio: Insurance Industry and Occupational Highlights. .