Work time lost to sickness, unemployment and stoppages: measurement and application

Abstract

The paper considers a number of methods of estimating the work time lost due to sickness, unemployment and stoppages. The most satisfactory approach suggested is based on a multiple state working life table. Numerical examples of the measurement of work time lost are provided for particular application to the actuarial assessment of damages (arising out of personal injury or fatal accident). Other applications, including the pricing of unemployment insurance, are also discussed.