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While “Lost Wages” refers exclusively to the loss of income associated with your injury up to the present, “Lost Earning Capacity” looks to the future. These future lost earnings, or impairment of future earning potential, are a very real consequence of any serious injury. Courts have long agreed that if an at-fault party causes an injured person to experience a reduction in future earnings power due to their negligence, they should be liable for compensation to the injured.
You may be entitled to the loss of any income resulting from your injuries. This includes lost wages and any other type you were forced to take off. If you used any sick leave or vacation time to recover form your personal injury, you are still entitled to the full value of that time off. You are eligible for reimbursement whether you are salaried or paid hourly, full or part time. Self employed wages are also covered under lost wages.
Lost wages recovery may be available to victims of employment abuse and worker’s compensation injuries.
Calculating lost earning capacity may appear simple at first, but an accurate depiction of this economic loss is actually subject to many ill-defined variables. When a personal injury attorney evaluates the amount of recovery possible for lost earning potential available to their client, they may request the services of an expert. Not only are experts more credible to insurance adjusters, judges and jury’s, they can roughly approximate the injured person’ skills, talents, promotion potential, years of work available and the net present value of such future wages. A medical expert may add to this picture of lost earnings capacity by assessing the extent to which the injuries suffered would impact any ability to perform the work required to maintain employment in the field.
While the calculations may be complex, rest assured you may be entitled to lost earning capacity. A strong personal injury attorney may be able to expand possibilities for recovery by presenting a thorough investigation to the jury that maximizes your entitlement.