Producer Connection is Standard Insurance Company's quarterly online newsletter for Employee Benefits producers.
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Producer Connection is Standard Insurance Company's quarterly online newsletter for Employee Benefits producers.
Sign up to receive Producer Connection
what you think of Producer Connection and how we can make it better.
A serious economic downturn can have a big impact on employment growth, which is one of the factors you should look at when considering which prospects you’re going to target. And while no industry or business is recession proof, some appear to be more prone to layoffs during tough economic circumstances.
The chart below shows how 10 broad industry categories fared in the last two recessions — from July 1990 through March 1991 and from March through November 2001. There is no guarantee that employment growth will follow these same patterns in another recession, but it couldn't hurt to consider adding to your block of business in the industries that are either not far south of zero or on the positive side of the chart.
(Click image to enlarge)