Obviously you are not an insurance professional – read closely – it’s the “rate” that fell not the absolute volume (“count”) of claims. Of course, the count will decrease in times of unemployment, but if the rate is measured as “claims per million workers” or “claims per million of wages” then the rate will not necessarily fall, all else equal.
Keep in mind other things that may affect the rate in times of high unemployment – like, for example, those who are left working being less motivated/incented to file a claim than they otherwise would have done in a low unemployment environment for fear of losing their job.
The unemployment is so bad in our state that its a given the injury rates would fall. Wonder how much money we spent on this stupid report!
Obviously you are not an insurance professional – read closely – it’s the “rate” that fell not the absolute volume (“count”) of claims. Of course, the count will decrease in times of unemployment, but if the rate is measured as “claims per million workers” or “claims per million of wages” then the rate will not necessarily fall, all else equal.
Keep in mind other things that may affect the rate in times of high unemployment – like, for example, those who are left working being less motivated/incented to file a claim than they otherwise would have done in a low unemployment environment for fear of losing their job.