Chicago Workers' Compensation Attorneys at Rosenfeld Injury Lawyers LLC See Increase in Settlement Rates as Inflation Impacts Hourly Workers
Data from the Illinois Workers' Compensation Commission suggests that inflation has increased workers' compensation settlements by almost 25% as hourly wages increase over the past 12 months.
CHICAGO, March 23, 2023 (Newswire.com) - As the cost of living continues to rise, more hourly workers are experiencing financial strain. With the impact of inflation affecting these workers, Chicago workers' compensation lawyers are seeing a corresponding increase in settlement rates.
"We are seeing a trend where hourly workers are more likely to seek compensation for workplace injuries," says Jonathan Rosenfeld of Rosenfeld Injury Lawyers, LLC, a leading workers' compensation lawyer in Chicago. "With the cost of living continuing to rise, these workers are facing financial challenges, and they are seeking the benefits and financial recovery they deserve."
According to recent statistics from the Illinois Workers' Compensation Commission, hourly workers in Chicago are twice as likely to file for workers' compensation as those in salaried positions. The number of cases involving hourly workers has increased by 25% in the past year, with the average settlement rate for these workers being $25,000.
"The goal of Workers' Compensation law is to provide injured workers with the financial means to recover their losses and make ends meet," explains Rosenfeld. "When inflation impacts hourly workers, they often find themselves in a position where they must seek the benefits they deserve due to workplace injuries."
The Impact of Inflation on Hourly Workers
The cost of living in Chicago has risen by an average of 6.5% in the past year, with housing, healthcare, and food being the most significant contributors to the increase. This rise in the cost of living significantly impacts hourly workers, who are already facing financial challenges.
Workers' compensation is a crucial safety net for hourly workers, providing financial support in the event of a workplace injury. However, many workers need all the benefits and financial recovery they deserve.
The Devastating Consequences of Workplace Accidents: A Look at the Types of Accidents Leading to Severe Injuries and Fatalities
Being harmed at work can have devastating consequences, particularly when workers are not receiving sufficient workers' compensation benefits to cover all expenses. Workers struggle to make ends meet while trying to heal from their injuries.
The lawyers have seen a variety of workplace accidents that have led to severe injuries and fatalities, including:
- Slip-and-fall accidents
- Machinery accidents
- Construction site accidents
- Exposure to hazardous materials
These types of accidents can cause long-term physical and emotional harm, and without adequate workers' compensation, workers are left struggling to pay for medical expenses and support their families. The lawyers are committed to helping these workers receive the benefits and financial recovery they deserve, fighting to ensure they receive the support they need during this difficult time.
As the cost of living continues to rise, Chicago workers face increasingly challenging financial situations. This increases settlement rates for workers' compensation cases, as hourly workers seek the benefits and the financial recovery they deserve more frequently.
- About Workers' Comp | U.S. Department of Labor
- Chicago Personal Injury Attorneys
Source: Rosenfeld Injury Lawyers LLC