To better understand the workers’ compensation insurance industry, it’s important to be familiar with what’s really going on. Some of the facts may surprise you regarding workers’ compensation statistics. The nature of the injuries that are common and how long people are out of work is important information for all parties involved: workers, employers, and the insurance industry. Here are some of the most interesting recently collected statistics regarding workers’ compensation.
· More than 4.1 million people will suffer a workplace injury last year.
Of every 100 full-time workers, approximately 4 of them will be injured on the job.
· Last year, more than 2 million workers were injured so severely that they had to miss work and seek medical attention.
Medium-sized companies have the most injuries. These companies typically employ between 50 and 250 people.
Very small businesses (fewer than eleven employees) have the fewest workplace injuries.
In the US, 1,000 people die from occupational diseases and injuries each year.
Workplace illnesses, injuries and deaths cost society about $155.5 billion each year.
The vast majority of workplace injuries are completely preventable and avoidable. Only about 4% of injuries received are due to no fault of the employee (equipment issues and other issues)
Interestingly, workers working in the healthcare sector accounted for 6.5% of workplace injuries and illnesses.
· Not surprisingly, construction is the most dangerous workplace in the country. There are 15.2 deaths per 100,000 workers, caused by automobile accidents, machine accidents, entrapment due to falling objects, electrocution, and falls in general. Construction workers also account for 1 in 5 workplace fatalities and 1 in 10 non-fatal workplace injuries and illnesses.
People of Latino descent are injured on the job at a shockingly disproportionate rate in the United States.
· According to the Bureau of Labor Statistics, the states of Texas, California, and Florida have the most deaths in the workplace. In Alaska, Delaware, Hawaii, Kentucky, Maine, Michigan, Nebraska, New Mexico, North Dakota, Rhode Island, Vermont, and West Virginia, the number of workplace deaths rose more than 20% last year. Only seven states—Alabama, Iowa, New Hampshire, New Jersey, South Carolina, Wisconsin, Wyoming, and the District of Columbia—recorded declines of more than 20% in workplace deaths.
The places that need improvement to prevent workers from getting hurt or sick (or even killed) in the workplace are clear, but what is more encouraging is that there are efforts that are paying off to reduce the occurrences of these unfortunate occurrences. . Statistics like these are invaluable and are a great tool to better understand the workers’ compensation industry.
