The average age of U.S. workers is ticking higher, according to the Bureau of Labor Statistics (BLS).
Roughly one in four U.S. workers will be 55 or older by 2033, the BLS reported. Just over 15% of U.S. workers were 55 and older in 2003. During the next 20 years, the BLS predicts a 117% spike in both the 65 and older and 75 and older age groups.
“As the average age of workers increases, there is a higher incidence of chronic health conditions and comorbidities, along with an increased likelihood of workplace injuries and longer recovery times,” McGowan Program Administrators said in a December 2024 report. “Workers’ compensation programs must implement tailored safety programs and ergonomic solutions, focusing on preventive care and health maintenance. These measures are essential to support older workers in maintaining their health and productivity, ensuring a safer and more efficient workplace.”
At the same time, technology and the gig economy will continue shaping workers’ comp as innovations like AI and telemedicine impact the customer experience from underwriting and claims processes, to offering immediate access to medical professionals for injured workers.
Meanwhile, a 2024 survey of global executives showed 23% cited employee risk as their chief concern, higher than any other business risk. From the same survey, 42% of global executives believe they operate in a high risk environment compared to 31% in 2023.
Looking ahead to 2025, there is potential for an uptick in workers' compensation costs despite a softer market. Data compiled by Risk Strategies shows wage inflation, reduced rates and increased size of primary claims could lead to premium increases.
The slideshow above illustrates workers’ compensation trends to watch in 2025 as selected by the National Council on Compensation Insurance.
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