NCCI: Shrinking Economy Driving State Comp Trends

Florida is outpacing the region and the nation in job losses as part of a trend that also is shrinking payrolls and reducing wage growth, the National Council on Compensation Insurance (NCCI) told stakeholders earlier this month.The Boca Raton, Fla.-based rate maker held its annual Florida advisory forum in Tampa Oct. 1 – five days before testifying at a public hearing called by Insurance Commissioner Kevin McCarty to consider NCCI's recommendation for cutting rates by 6.8% effective Jan. 1.The advisory report, posted last week on NCCI's website, concludes "Recession is now the F...