U.S. labor market analyses make for confusing reading as economists and statisticians try to figure out whether headline unemployment rates reflect the reality that jobless people experience.

The 4.8% rate reported in September — when extra unemployment payments ended — is considerably lower than the nearly 15% at the height of the lockdowns last year, but it remains unclear what the official numbers signify.

The unemployment rate measures the number of people actively looking for a job, but many people have stopped working, retired early or otherwise retreated from the job market as a result of the pandemic, and they would likely still be employed full time had COVID-19 not struck.

What isn’t so difficult to work out is that the insurance industry is still facing a dearth of talent. Officially, the unemployment rate for insurers and brokers is 1.9%, and you don’t have to spend too long talking with managers in the industry before the topic of “the war for talent” comes up. 

As we record in our pages and on our website, there seem to be an awful lot of people changing jobs within the industry this year, but most of the time the stories are about insurers and brokers inadvertently trading talent rather than bringing new people into the sector. 

Insurance is not the only sector seeking to attract workers at all levels, but when you take a close look at the range of jobs available in the insurance sector, it’s perhaps a little surprising that the industry doesn’t have more success.

Traditional jobs in actuarial, underwriting and risk management departments have always attracted people with an aptitude for math or an interest in risk, but data science is increasingly becoming part of the process and workers with those skills not only can find employment in insurance but will be able to shape the industry for years to come as it transitions.

But you don’t have to be a genius with numbers to find a technology job in the industry. People with skill sets ranging from cybersecurity to operating drones can find roles.

Salespeople have long had some incredible opportunities in the sector, and the financial rewards available for top performers may surprise some. And in the wider marketing context, insurers selling hard-to-visualize and often similar products have produced some iconic ad campaigns. 

Meanwhile, as more and more workers head back to offices and job sites, many companies in the sector are easily able to offer more flexible working arrangements to those who have gotten to like working from home.

Regardless of the attractions of the industry that insiders are aware of, however, companies will likely be fighting a lost cause if they try and sell insurance as a cool place to work. By focusing on the numerous interests that can be satisfied through individual careers available the sector might have better luck.