Workers' comp and recession: Expect a decline in rate of claims
Unless plant closures and mass lay-offs are planned, workers' comp claim rates tend to decline during recessions, while claim duration increases.
History shows that businesses can expect to see fewer workers’ compensation claims during recessions. For instance, in 2012 the Institute for Health and Work reported that the number of workers’ compensation claims in Canada declined more sharply during the 2008-2009 recession than in years previously, and declined more than the reduction in recorded hours of work. Claims numbers drop during recessions because: There are re...
Published 20 April, 2009 | Updated 14 July, 2020