In March of 2021, amid an ongoing housing market boom, the construction industry added 110,000 jobs, recovering over 80% of the jobs lost over the course of the COVID-19 pandemic. To meet the growing demand, specialists estimate that approximately 4 million new homes will need to be built. However, as the industry grapples with the increased demand for new homes and building materials, it will also face challenges in finding skilled workers to do the job. As a result, many companies are having to hire workers who may be less skilled and qualified for the job, creating even greater risk exposures for the business.
In this white paper, we will look at key workers’ compensation trends for 2021 that are impacting the construction industry, and the importance for companies to develop safety programs for workers in an effort to reduce workplace accidents and claims.