Wisconsin companies will pay 8.47 percent less in worker’s compensation insurance rates starting Oct. 1, 2022, giving a boost to businesses around the state, the Wisconsin Department of Workforce Development reported.

The lower rates reflect continued worker safety improvements by employers in Wisconsin, which has a record number of people working and a May unemployment rate of just 2.9 percent. The 2022 rate decrease, approved by the Wisconsin Commissioner of Insurance, marks the seventh year in a row worker’s compensation insurance premiums have declined in Wisconsin.

The latest reduction in premiums is expected to save Wisconsin employers some $146 million.

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