Today’s issue of WorkCompRecap features the release of a new edition of NCCI’s Quarterly Economics Briefing, which examines the current state of the economy and the implications for workers’ comp insurance. This edition also focuses on manufacturing, including a survey of state manufacturing presence and how automation and supply chain decentralization have contributed to long-term trends in output, employment, and productivity.
Key findings from this edition included that after slowing in 2016, private employment growth is projected to continue to slow this year and in 2018. Average weekly wages are however forecast to accelerate due to tightening labor market conditions. Manufacturing insights included its importance to the workers’ comp industry, as the industry’s premium makes up a disproportionate share (15%) relative to its exposure (8%).
Find out more (including a link to the free brief!) by clicking here!