I thought summer was supposed to be slow…
Sorry for lack of posts last two weeks – just slammed with client work.
here’s what I should have been posting on.
Economy drives employment drives workers comp
The economy boomed in the last quarter, with growth around 4 percent, a number we haven’t seen for four years.
Chart from Statista.
That’s the headline; the real story is less positive. Growth was partially driven by:
- the Chinese buying shiploads of soybeans ahead of the tariffs going into effect – they’ve already cancelled orders for this quarter and next year.
- Manufacturing orders spiked ahead of the imposition of retaliatory tariffs from the EU
- Higher government spending
- Higher consumer spending
Here’s hoping things continue without overheating; forecasts aren’t so positive.
Implications – Lots of jobs open means higher wages and incentives for employers to keep workers on the job and get them back to work ASAP.
For those who just can’t get enough of the tariff issue – here’s the Harvard Business Review’s historical perspective. Yes, I am a nerd.
Heat = more work-related illnesses/injuries
Deadly fires in Yosemite and California and Greece and Siberia and Sweden. A heat emergency in Japan. Temps in LA at record levels – even overnight. Scorching temperatures here in upstate New York.
Yes, climate change is happening. Yes, humans are the cause. And yes, it’s going to impact workers.
If the wet-bulb temperature (equivalent to that recorded by a thermometer wrapped in a moist towel) exceeds 35°C [95 degrees Fahrenheit], even a fit, healthy youngster lounging naked in the shade next to a fan could die in six hours.
Shifts in weather patterns are far more significant than overall global warming as they lead to very hot and dry conditions some places, hot and wet others, and exacerbate storm intensity among other effects.
Kudos to NCCI – they’ve been producing some highly relevant, much needed, and very useful research of late. Detailed, thorough, and diverse, and well worth your careful review.
One different angle is their ongoing work to highlight the good done by the workers comp industry every day. Today’s installment is another example of this; there’s a lot more recognition that work comp is about the patients and employers.
Opioids in the Federal workforce
Thanks to the great folks who handle my social media, website, and all that technical stuff I don’t understand at all, we’ve got video of testimony before the House Committee on Education and the Workforce.