WorkplaceNL is holding the average assessment rate paid by employers for the fifth consecutive year.
The rate will be held at $1.69 per $100 of payroll, which includes a temporary $0.21 average discount.
The average temporary discount aims to reduce the surplus in the employer-funded Injury Fund over 15 years, which was 132.3 percent funded in December 2021, over the 110 percent target.
The Maximum Compensable and Assessable Earnings used to calculate the total assessment will increase by 5.6 percent, from just over $69,000 to just under $73,000 for 2023.