Healthcare jobs

Posted by: Michael Mandel on March 07

Today’s job report shows that healthcare continues to generate jobs, Now that we’ve presumably headed into a recession, we can calculate peak-to-peak job growth.

According to my calculations, health care services accounted for almost 50% of all private sector jobs generated in this business cycle. In the previous three business cycles, healthcare’s share was 14-16%.

healthrecession

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Reader Comments

Thomas A. Coss

March 7, 2008 05:31 PM

Michael-
Ever since your piece on health care job growth (The Health Care Economy, fall of 2006) you've seen more and more validation. With general manufacturing labor heading below 10% of the national labor economy, Agriculture at about 2% where do you see this heading? Can health care become America's principle labor sector replacint manufacturing or will we see a future more diverse than that?

Unless I'm missing something, this strikes me as a compelling story.

Tom

Mike Mandel

March 10, 2008 11:56 AM

I've got to come back to this. Health care jobs, to a large degree, are funded by the government and by large companies, which is why they have continued to grow.

Thomas A. Coss

March 12, 2008 12:42 AM

My curiosity is peeked. As I look at the data, the largest health care sum-sector growth was in Ambulatory Care, about 31.6% since 1998, as compared to 16% for Hospitals and 18.7% for Nursing and Residential Care for the same period.

The incredible growth in outpatient diagnostic and surgical centers which s last year exceeded the number of hospital. This strikes me as a movement away from Government, well at least away from regulation and dubious accreditation burden.

I'm eager for your perspective.

Thank you for your interest. This blog is no longer active.

 

About

Michael Mandel, BW's award-winning chief economist, provides his unique perspective on the hot economic issues of the day. From globalization to the future of work to the ups and downs of the financial markets, Mandel-named 2006 economic journalist of the year by the World Leadership Forum-offers cutting edge analysis and commentary.

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