GITNUX MARKETDATA REPORT 2024

Workers Compensation Statistics [Fresh Research]

In this post, we will explore a collection of key statistics related to workers’ compensation in the United States. From the significant payroll costs to the number of reported injuries and fatalities, these statistics shed light on various aspects of workers’ compensation and its impact on both employees and businesses. Let’s dive into the data to better understand the current landscape of workers’ compensation in the U.S.

Statistic 1

"In 2019, the workers’ compensation payroll of covered workers stood at $7.7 trillion."

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Statistic 2

"In 2018, 2.8 million nonfatal workplace injuries and illnesses were reported in the United States."

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Statistic 3

"Approximately 5,333 workers died from a work injury in the U.S. in 2019."

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Statistic 4

"Workers’ compensation benefits paid and costs as a percent of covered wages have continued to decline since 2000."

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Statistic 5

"Small businesses pay around $2.25 of every $100 in payroll for workers’ compensation."

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Statistic 6

"In 2018, only 72% of eligible injured workers received statutory benefits."

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Statistic 7

"Washington state’s average premium rate for workers’ compensation is $0.98 per $100 of payroll in 2021."

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Statistic 8

"In New York, the maximum weekly benefit for workers compensation claims increased to $934.11 in July 2021."

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Statistic 9

"Workers’ compensation medical benefits totaled $31.9 Billion in 2018."

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Statistic 10

"California has the biggest workers compensation system in the US, accounting for over 20% of the nation’s benefits paid."

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Statistic 11

"Workers 55 and over accounted for 17% of nonfatal occupational injuries and illnesses involving days away from work in 2019."

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Statistic 12

"49% of companies report that addressing workers’ compensation cost is a business priority."

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Statistic 13

"Work-related musculoskeletal disorders account for 33% of all worker injury and illness cases."

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Statistic 14

"In 2020, South Dakota had the lowest workers’ compensation rates in the U.S."

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Statistic 15

"Females make up 40% of nonfatal occupational injuries and illnesses involving days away from work in 2019."

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Statistic 16

"The average cost of a workers’ compensation claim for all types of claims is $40,051 in 2017/2018."

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Statistic 17

"New claim frequency dropped by 11.6% in the first half of 2020 due to COVID-19 lockdowns affecting worksites."

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Interpretation

Overall, the workers' compensation landscape in the United States is characterized by significant financial figures and notable trends. The total payroll for covered workers remains substantial at $7.7 trillion in 2019, with a decreasing proportion allocated to workers' compensation benefits and costs over the years. Despite the declining rate, the amount of $31.9 billion spent on medical benefits in 2018 underscores the ongoing significance of these programs. Variability in state-specific statistics is evident, such as in premium rates and maximum benefit levels. It is also noteworthy that specific demographics, such as older workers and females, bear a significant portion of nonfatal injuries and illnesses. The impact of the COVID-19 pandemic is visible in the reduction of new claim frequency in 2020. Overall, these statistics highlight the complex and evolving nature of workers' compensation, necessitating ongoing attention and analysis to ensure the well-being of American workers.

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