Healthcare industry adds close to 35,000 jobs in June
While the unemployment rate remains relatively unchanged at 3.7 percent, the unemployment rate for hospitals stands at about 1.6 percent.
Healthcare added 34,900 jobs in June, according to the Bureau of Labor Statistics in data released Friday.
The latest figures show about double the increase in healthcare jobs from May to June, than the 17,700 rise from April to May.
The bureau report a total of 16,387,800 healthcare jobs in June, compared to 16,352,900 in May and a jump over June 2018 figures of 15,985,000 employees.
Ambulatory healthcare represented the largest increase, accounting for 18,500 jobs, compared to 11,000 for hospitals and 6,700 in physician's offices.
WHY THIS MATTERS
While the unemployment rate remains relatively unchanged at 3.7 percent, the unemployment rate for hospitals stands at about 1.6 percent.
Employment in healthcare occupations is projected to grow 18 percent from 2016 to 2026, much faster than the average for all occupations, adding about 2.4 million new jobs, the Bureau of Labor Statistics said in April.
Healthcare occupations are projected to add more jobs than any other occupational groups, due in large part to an aging population needing more healthcare services.
Health insurers are also facing a competitive market, with an unemployment rate of an estimated 1.7 percent.
Sixty-one percent of insurance companies polled, including those outside of healthcare, intend to increase staff in 2019, according to the Semi-Annual U.S. Insurance Outlook Study conducted by The Jacobson Group and Aon.
TREND
In 2018, healthcare accounted for 346,000 jobs created, an increase over the 2017 total of 284,000, according to Bureau of Labor Statistics' data. This was enough to account for one in seven new jobs in the U.S. in 2018.
Twitter: @SusanJMorse
Email the writer: susan.morse@himssmedia.com
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