The US workers' compensation industry is dependent on premiums, based on wages, paid to workers. A lack of workers on payrolls stalls the economic engine necessary to fund the system. The predictable response is an increase in rates chargeable to fewer employees in a time when the country faces a predictable deflation rate in advance of potentially soaring rates based upon inevitable inflation resultant from increased governmental spending. Seven more years, at a minimum of high unemployment has been predicted.
Compounding the scenario is the fact that the historical pattern of the past will most likely not allow for a major rebound as the facts of economic growth, globalization and transfer of manufacturing overseas has devastated the base of growth for the national workers' compensation system.
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