blog writing #insurance labor market

Comparing the relative labor markets between the two positions we see some notable differences. The data entry position has considerably more openings and offers far less in compensation than does the insurance claims adjuster. That allows for an assumption there is more turnover in the lower skill/wage data entry than in insurance claims adjusting. “In a competitive labor market where workers can switch readily among firms, a firm that offers jobs with characteristics which make workers less satisfied than in other firms will lose staff to those other firms and will have to improve its job package to stay in business”. Additionally, the claims adjuster position requires a higher skill level requiring specific state licenses and a college degree. Thereby allowing for the salary premium compared to data entry.