The Workers’ Compensation Insurance Rating Bureau of California (WCIRB) has released an update to the Impact of Economic Changes on California Workers’ Compensation report. The full report is available in the Research Studies and Reports section of the WCIRB website and at the following link:
Highlights of the update include:
- Employment in most industries fully recovered from the initial pandemic related changes by the end of 2022. However, employment in Retail is expected to remain below 2019 levels until 2026, while employment in Hospitality fully recovered in 2023.
- Projected changes to frequency and severity due to industry mix of employment are negligible through 2026.
View the previous Impact of Economic Changes on California Workers’ Compensation report here.