Workplace NL says lost-time injury rates in the province reached a historic low last year and are among the lowest in the country.

Workplace NL’s 2024 Performance Report shows the rate for last year was 1.2 per 100 workers, compared to 1.3 in 2023 and 1.4 in 2020.

The average assessment rate paid by employers last year increased to $1.73 per $100 of payroll due to benefit changes and inflation.

Workplace NL says as of December 31st, the injury fund was fully-funded thanks to better-than-expected investment returns in 2024.

However, there are concerns that fluctuations in global financial markets could affect injury fund investments, so the agency is maintaining a long-term view and is diversifying its investment portfolio to mitigate any potential impact.