Construction Boom Expected to Give Comp a Big Boost

Sales of new single-family homes in the U.S. hit a 10-year high in October, the latest sign of a rebound in the construction industry — a trend that is mainly good news for workers’ comp insurers. The U.S. Census Bureau on Monday reported that sales of newly built single-family houses in October 2017 were at a seasonally adjusted annual rate of 685,000, the highest level since October 2007. Last month’s home-sales figure was a 6.2% increase from September’s rate and 18.7% higher than the October 2016 figure of 577,000. And U.S. housing starts rose 13.7% in Octobe...