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Number, rate, and costs of fatal occupational injuries in the U.S. finance, insurance, and real estate industry by selected characteristics, 1992–2002
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Costs (2003 dollars)
|
Characteristic |
Number of fatalities |
Fatality rate
(per 100,000 workers) |
Total (millions) |
Mean
(thousands) |
Median
(thousands) |
|
All incidents |
1,097 |
1.2 |
$951 |
$876 |
$907 |
Sex:
Male Female
|
838
259
|
2.2
0.5
|
711
240
|
857
937
|
853
986
|
Race of decedent:
White Black Other* |
944
90
63
|
1.2
1.0
1.6
|
815
78
58
|
874
863
926
|
910
842
944
|
Age of decedent:
16–19 20–24 25–34 35–44 45–54 55–64 65+ |
—
43
179
246
287
184
—
|
—
0.5
0.7
1.0
1.5
2.0
—
|
—
42
215
297
288
96
—
|
—
971
1,199
1,209
1,002
521
—
|
—
858
1,201
1,192
997
493
—
|
Occupation group:†
Managerial and professional
specialty Technical, sales, and administrative support Service Farming, forestry, and fishing Precision production, craft, and repair Operators, fabricators, and laborers |
394
414
129
46
61
46 |
1.3
0.7
4.0
7.6
3.2
8.5 |
394
379
71
21
51
30 |
1,004
932
558
466
847
663 |
1,113
985
667
571
967
764 |
Event or exposure:†
Contact with objects and equipment Falls Bodily reaction and exertion Exposure to harmful substances or environments Transportation accidents Fires and explosions Assaults and violent acts |
49
123
—
80
403
—
427 |
0.1
0.1
—
0.1
0.4
—
0.5 |
39
69
—
65
381
—
388 |
790
573
—
807
962
—
913 |
740
629
—
811
1,015
—
974 |
NOTE: Dashes indicate data that do not meet publication criteria.
*This category includes all other races, such as American Indian and Asian, as well as unknown or missing races.
†Numbers are not reported for “unknown” or “not classified” categories. |
Fatal Occupational Injury Cost Model
Theoretical Basis of Cost Estimation
The cost to society of a workplace fatality was estimated using the cost-of-illness approach, which combines
direct and indirect costs to yield an overall cost of an occupational fatal injury. For these calculations, only medical expenses were used to estimate the direct cost associated with the fatality. The indirect cost was derived by calculating the present value of future earnings summed from the year of death until the decedent
would have reached age 67, accounting for the probability of survival were it not for the premature death. (For more information, see Biddle, E [2004]. Economic Cost of Fatal Occupational Injuries in the United States, 1980–1997. Contemporary Economic Policy 22(3):370–381.)
Mathematical Representation of Indirect Costs
PVF = ΣPy,s (y+1)[Ys, j(n) + Yhs(n)] (1+g)n–y/(1+r)n–y
where:
PVF |
= present discounted value of loss due to occupational fatal injury per person |
Py,s (y+1) |
= probability that a person of race r, sex s, and age y will survive to age y+1 |
y |
= age of the person at death |
s |
= sex of the person |
n |
= age if the person had survived |
Ys,j(n) |
= median annual earnings of an employed person of sex s, occupation j, and age n
(includes benefits and life-cycle wage growth adjustment) |
Yhs(n) |
= mean annual imputed value of home production of a person of sex s and age n |
g |
= wage growth rate attributable to overall productivity |
r |
= real discount rate (3%) |
Data Sources
Fatality data: Bureau of Labor Statistics (BLS) Census of Fatal Occupational Injuries (CFOI). These data exclude military personnel, decedents with unknown age or sex, fatalities occurring in New York City, and fatalities from the September 11, 2001, terrorist attacks.
Probability of survival: National Center for Health Statistics, Division of Vital Statistics.
Median annual earnings: BLS Current Population Survey. Wage data are based on the occupation of the decedent and the year of death adjusted by Gross Domestic Product (GDP) Deflator to base year of dollar. Life-cycle wage growth was calculated based on the rate of change in wages between age groups.
Benefits: U.S. Chamber of Commerce. Benefits data are based on the industry where the decedent was employed and the year of death adjusted by the GDP Deflator.
Mean annual home production: Expectancy Data that were derived by a time diary study sponsored by the U.S. Environmental Protection Agency and conducted by the University of Maryland.
Wage growth rate: Based on BLS Employment Cost Index (ECI)
Medical costs: National Council on Compensation Insurance. Costs are a 3-year average cost.
Employment estimates for rate calculations: BLS Current Population Survey.
Fatality Rate Calculations
Fatality rates were calculated by NIOSH and may differ from previously published BLS CFOI rates. Fatality rates were calculated as deaths per 100,000 workers. Fatality rates for sex, race, age group, and occupation were calculated using employment estimates by the individual characteristic within the specific industry sector. Employment estimates for the specific industry sector were used to generate rates for event.
Classification Systems
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