The Great Reshuffle in Labor Markets
Leonard F. Herk, PhD |
Executive Director and Senior Economist, NCCI
Carolyn Wise, ACAS, MAAA |
Manager and Associate Actuary, NCCI
The Great Reshuffle is reshaping labor markets, but how will these changes affect injury frequency—and by how much? Len and Carolyn presented scenarios to explore the range of possible impacts on injury frequency and the implications for our industry.
- Today’s labor market has more short-tenured workers, more remote workers, and a different industry mix of employment than before the COVID-19 pandemic.
- Short-tenured workers have a higher frequency of job-related injuries than full-tenured workers, and the difference in injury rates varies greatly across industries.
- Remote workers appear to have a lower frequency of job-related injuries than on-site workers, and this difference appears not to vary across industries.
- Changes in the industry mix of employment—especially employment shifts between lower and higher severity classes—can have complex effects on aggregate frequency.
The Great Reshuffle in Labor Markets Video