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.
The Q2 2020 installment delivers two reports on how the COVID-19 pandemic has affected employment, starting with job losses during the initial phase from Feb-May 2020, which found that job losses in manufacturing and construction appear to be a secondary effect of pandemic-induced employment contractions in services. As of mid-April, job losses by state ranged from 8% to over 20% of pre-pandemic employment. The second report examines job losses by physical proximity required, and found that the largest percentage job losses came in economic sectors with large shares of high-proximity workers.
Find out more (including links to the free reports!) by clicking here!