$0.16

June 5, 2015 | Number of The Day
Amount cost of worker’s compensation per $100 in wages has climbed over past 25 years in NJ

Businesses in New Jersey shelled out just $0.16 more per $100 in employee wages for workers compensation insurance in 2014 than they did in 1988, according to a report from Propublica.com. But even that miniscule increase goes against the trend: The average insurance premium per $100 in wages has dropped by $1.57 in the past 25 years.

New Jersey employers pay an average of $2.82 per $100 in wages for workers comp, noticeably above the national average of $1.85. Employers in California, by comparison, pay $3.48 per $100 in wages, an amount that is down by $1.84 from the $5.32 they paid in 1988.