When the U.S. recession finally ends, workers' compensation systems will have to function in a "shrunken new normal" economy requiring cost cuts, one leading industry figure warned.
Richard Victor, executive director of the Workers' Compensation Research Institute, delivered that prognosis at the opening of the Boston-based WCRI's annual conference, which was telecast to 350 attendees at cities across the country.
The post-recession reality, he predicted, will be an economy with a "shrunken new normal," with tremendous pressures to reduce costs and businesses with smaller payrolls.
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