2019 April POINT!

ECONOMIC INDICATORS

Oklahoma Workers’ Compensation Rate Ranking Improves by 20 Spots Since 2010

Select State Workers’ Comp Rate Comparisons

For comprehensive Economic Indicators and Regional Data, please visit your Greater Oklahoma City Chamber Economic Development Division at greateroklahomacity.com/ economicindicators or contact Eric Long, Research Economist – 405-297-8976; elong@okcchamber.com • By 2018, Oklahoma’s rates were ranked in the middle of all states with rates just 1% above the national median. The dramatic decrease in rates placed Oklahoma in the same echelon ($1.50-$1.99) as neighbors New Mexico and Missouri. • The recently released 2018 State Ranking of Worker Compensation Premium Costs showed Oklahoma has improved it’s workers’ compensation premiums by 20 places out of the 51 states and territories measured since 2010. • In 2010, Oklahoma had the 4th highest Workers’ Compensation Premiums in the country.

State

2018 Rank

2018 Index Score

Percent of Median

Kansas

6 9

1.15 68%

Texas 1.21 71% Oklahoma 28 1.71 101% Illinois 30 1.8 106% California 50 2.87 169%

Source: Oregon Department of Commerce, 2018 Workers’ Compensation Premium Index Rates. A rank of 1 is most favorable.

THE POINT - APRIL 2019 18

www.okcchamber.com

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