The National Council on Compensation Insurance said in its latest quarterly economics briefing that while a recession or major economic slowdown could have adverse effects on workers’ compensation premiums and losses, there is currently no clear evidence of a decline in economic activity or employment in key industrial sectors.
The U.S. labor market remains strong, with continuing growth in employment rates and wage levels. NCCI also said it continues to see evidence of strong labor conditions in turnover data.
“Hiring and separation rates are close to pre-pandemic levels, but a ...
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