Small Business Cheers Drop in Workers’ Comp Rates

February 24, 2023

The rate reduction takes effect July 1

Small Business Cheers Drop in Workers’ Comp Rates

NFIB Interim State Director Chris Ferruso released the following statement today in response to the Ohio Bureau of Workers’ Compensation’s announcement that the workers’ comp rate for private employers will be reduced by 8% effective July 1: “These are tough times for Ohio’s small businesses, so any reduction in workers’ comp is deeply appreciated. NFIB’s most recent Optimism Index survey shows that 26% of small business owners nationwide consider inflation their single most important problem. Quality of labor is second with 24%. “Small businesses throughout the state are still recovering from the economic setbacks that began in 2020 with the onset of the pandemic. The bureau’s decision to cut rates by 8% is going to help relieve the financial pressure on Main Street businesses and go a long way toward getting them back to where they need to be.”

Topics:

Uncategorized

State:

Ohio

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