Nearly Half Of The New Jobs In America Were Created By One Industry

[xchrom]

http://www.businessinsider.com/healthcare-employment-accounted-for-nearly-half-the-jobs-gained-2012-6

The economy added a net 69K new jobs in May, according to this morning's Non-Farm Payrolls report.
And nearly half can be attributed to one industry: Healthcare.
Over 30K new jobs were created in this industry.
What's more, as you can see in the chart below (which measures the monthly change in the industry), there hasn't been a single negative month in this industry all through the recession and recovery.




And really, over the long term, if you just look at the growth of this industry, it really is a thing of beauty.

[snappyturtle]

1. It's a thing of beauty if you're employed by the

industry or have access to it. To the uninsured it's
just another couple of graphs...BUT, it is good news
none-the-less. imho

[newfie11]

2. That is why I went into the medical field

Last edited Sat Jun 2, 2012, 09:36 AM - Edit history (1)

My dad was an electrician. He worked where the union sent him. There were great times and there were lean times (chicken one day and feathers the next). I was always interested in the medical field and the fact that there was always a demand gave me the push I needed.

41 years later I am now retired. I have worked coast to coast and border to border by my own choosing. There were always jobs waiting.

Now however things are changing. My field was radiologic technologist. Students are graduating and there are few jobs. Many are not working in their field.
I went two years to LACC with radiologic technology as my major and 15 months in a hospital. This allowed me to sit for the registry test.
In those days college was free in California and the hospital paid me a stipend.

Now today these kids are spending thousands to got to college and then must pay the hospitals to complete their training. Times they are a changing, at least for xray techs.

[Turbineguy]

8. You were smart

Helping people cannot be easily outsourced or low-balled.

[patricia92243]

3. If/when they cut medicare, that will change drastically :( n/t

[magical thyme]

5. it's already started where I'm at

A large part percentage of their patients are the skilled nursing facility, nursing home and alzheimer's home that share their campus.

My lab just brought in a consultant, who told them to lose 2 full timers and cut their use of per diems.

Result? 2 full timer and 2 per diems were left out of training this month for the info system upgrade. I'm one of the ones being dumped. If I could sell my house, it would be ok. But that's another story....

[xchrom]

4. Freakishly Strong Healthcare Employment Spells Bad News For GDP

http://www.businessinsider.com/healthcare-employment-as-a-percentage-of-total-employment-vs-gdp-2012-6

Yesterday we noted that nearly half of the net new jobs created in May came from healthcare.
The reason for this is: healthcare jobs are constantly going up regardless of the state of the economy. Demographics plays a big part in that.
So when total job growth is weak, healthcare employment is going to look freakishly strong.
Along those lines, we made this fun chart.
The red line represents the year-over-year percentage change in healthcare's share of total employment. So on a report like yesterday's, it goes up, because healthcare's share of total employment jumps.
The green line represents the year over year change in GDP (but we flipped it upside down).
The correlation between the two lines is pretty remarkable. And as you can see, the red line is starting to rise again, which should suggest that the green line will move higher again, representing further slowdown in GDP.

[magical thyme]

6. stress leads to more illness

so healthcare always does better during recessions. I learned that back in the 80s when I worked at a medical instruments company. More heart attacks increased demand for the heart gadgets that they made.

[TNLib]

7. I don't think this is good news. Our Economy is basically riding on sick and

and the elderly. not good at all for the economy.

[woo me with science]

9. Prisons and hospitals.

Welcome to the new America.

[abelenkpe]

10. But Romney said HCR was causing people to lose jobs

[global1]

11. Because Of The ACA 45 To 50 Million People Will Have Health Insurance And Access To The System.....

these people are probably the poorest, sickest and most prone to infectious diseases. In my opinion healthcare institutions will be busier than ever. As hospitals will now be held more accountable for 'healthcare acquired infections' and the government and insurance companies won't be picking up the tab if a patient gets a 'healthcare acquired infection' while under their care - employment will continually be going up in this area. Hospital administrators are going to have to hire more people to take care of the onslaught of patients that will be presenting themselves at their doors. Hospitals are going to be busy places. Healthcare practitioners will be busier than ever. To prevent medical errors and to prevent hospital acquired infections that could be costly to the hospital if they try and cut corners - they are going to have to hire more people to man the ship.

In my opinion - this is a good time to go into a healthcare field. Jobs will continue to grow.

Add the aging baby boomers to the mix and it really gets interesting.

[Coyote_Bandit]

13. Ummmm......No

There will still be people who will be unable to afford the mandated health insurance - even with the subsidies.

And there will still be people who have high deductible policies that cannot afford the out of pocket expense of heathcare.

It's a pity we couldn't have had healthcare reform instead of health insurance reform.

Having health insurance does not mean that one has meaningful access to healthcare.

[FarCenter]

12. From flipping hamburgers for each other to changing bedpans for each other...