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 Q3 2020 installment delivers two reports on how the COVID-19 pandemic has affected employment, starting with the difference between actual and seasonally expected employment, which has recovered partly from its April low of -16.3% but remains depressed at -7.6% as of September, with four service sectors found to account for 77% of the employment gap. The second report examines average wages during the pandemic, noting average weekly earnings rose sharply during the pandemic-related recession, mostly because employment losses are concentrated in low-wage sectors and low-wage jobs within sectors.
Find out more (including a link to the free report!) by clicking here!