Workers’ Comp Rates Are On The Rise Again In New Jersey
After a year in 2011 in which workers’ compensation rates actually declined for the first time in decades, the new rates in 2012 have renewed the steady ascent which commenced in 1980.
The Workers’ Compensation rates effective January 1, 2012 are:
Maximum for temporary disability and permanent total — $810.00 per week up from $792.00
Minimum for temporary disability — $216.00 per week up from $211.00
These rates are based on the State Average Weekly Wage. For 2012 that average is $1,079.91. The State Average Weekly Wage in 2011 is $1,056.54.
At this time Capehart does not have the new rate charts put out by New Jersey Manufacturers. These rate changes will affect all awards. The rate of increase over 2011 appears to be approximately 2%.