Workers' compensation benefits fell to $57.5 billion in 2010 following a 2.1 percent decrease in medical benefits of injured workers, according to a report released by the National Academy of Social Insurance.
Additionally, costs for workers' comp dropped by 2.7 percent in 2010, which puts employers' costs in 2010 at the lowest in the past three decades.
"Employers' costs as a percent of payroll declined in 43 jurisdictions," says John F. Burton Jr., chair of the study panel that oversees the report. "This decline is probably due to the slow pace of the recovery with many jurisdictions still experiencing relatively high unemployment rates."
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