Estimating the full cost of workplace injuries

While many studies estimate medical costs and lost wages from workplace injuries, few have estimated pain and suffering costs. This study develops a wage-risk model for railroad workers and estimates the total cost of on-the-job injuries. On average, the total cost of an on-the-job injury to a railroad worker in 1980 was between $19,500 and $22,500. These estimates are substantially higher than the sum of medical costs plus lost wages.