An unemployment rate of 3.6 percent sounds good, right? In one regard, this is good news. The economy has improved, and more people are working. There is a downside, however -- more workplace accidents resulting in injury, according to an article in Insurance Journal Report.
What's driving the increase in workplace accidents?
Mark Walls, vice president of communications and strategic management for Safety National, cites research that shows an increase in workplace accidents during times of low unemployment. One factor responsible for the sharp rise in workplace accidents is an influx of workers who lack adequate training and physical abilities.
"What the industry thinks we are seeing is that the new workers in the workforce are not as well trained and sometimes are not in as good physical condition," he said.
How older workers are impacted
Since 2006, the workforce has seen a significant rise in workers age 55 and older - who likely sustain more injuries on the job than their younger counterparts. According to the Bureau of Labor Statistics (BLS), there has been a 30 percent decline in the frequency of workplace injury claims across all worker demographics from 2006-2017.
That means that while the older age group began to suffer more workplace injuries than younger workers, declines in frequency rates across all age groups offset that impact.
The BLS estimates by 2024, the labor force in the US will grow to roughly 164 million people - including 41 million workers age 55 and older and 13 million workers age 65 and older.
Out of all age groups, workers ages 65 and older are projected to have the fastest rates of labor force growth annually from 2014-2024.
James Lynch, chief actuary of the Insurance Information Institute attributes the current decline in workplace injury claims to "societal changes that have led to improved safety in general."
"Frequency is going down everywhere. It's going down by age, it's going down by sector, it's going down by gender," he said in a statement.
More workers means a greater likelihood of workplace accidents and workers have legal options that they should always pursue in the event of any serious job-related injury. Whether an accident was caused by a negligent employer, another worker, or a mistake you made, it's best to discuss your matter with an experienced Ohio workers' compensation attorney as soon as possible.
Workers' compensation is a no-fault system in Ohio, meaning that you are eligible for benefits no matter what caused your injury. The process of pursuing a workers' compensation claim isn't easy so let the attorneys at Hochman & Plunkett Co., L.P.A. work for you. We'll ensure that all paperwork is filled out properly and you claim goes as smoothly as possible. Contact us today to get started