Observation of the Trend of Wages and Employment by Payroll Audit Data
14 Pages
English
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Observation of the Trend of Wages and Employment by Payroll Audit Data

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14 Pages
English

Description

losses, a a 1922. W. 1920 a TREND OF WAGES AND EMPLOYMENT OBSERVATION OF THE TREND OF WAGES AND EMPLOYMENT BY PAYROLL AUDIT DATA BY CONSTABLE In March, plan for collecting accurate wage and employ- ment statistics was put into operation by the National Council on Workmen's Compensation Insurance. Data have been accumulating since that time and the first bulletin giving com- parative figures for the State of New York has recently been issued. It is the purpose of this paper to bring before the members of the Casualty Actuarial Society the methods and results of this plan. THE IMPORTANCE OF WAGE LEVELS IN WORKMEN'S COMPENSA- TION RATEMAKING The experience upon which workmen's compensation rates have been based at each revision has always been obtained from Schedule "Z". Due to the present methods of accounting, two years must elapse before Schedule "Z" for any particular policy year is available. The experience, for example, for policy year is just now becoming available in It is obvious that be- tween the time represented by the experience and the time when it becomes available, changes in wage levels may have taken place. These changes in wage levels tend to vitiate the experience unless they can be measured. The payrolls indicated by the experience may be materially changed because of change in wage level and likewise the which are based upon per- centage of the injured employee's wages, may also be changed. In view of this lag in ...

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