Healthcare Employment is Exploding
12/07/2011 | 869 views | 0 0 comments | 6 6 recommendations | email to a friend | print

Need a job or thinking of a career change? Healthcare is where the action will be for the forseeable future.



Look at these charts from the Federal Reserve Bank of St. Louis, courtesy of Business Insider. Healthcare is set to be an extreme growth industry.

healthcare


Image:https://research.stlouisfed.org/fred2/graph/?id=CES6562000101



The chart is even more impressive when you look at healthcare employment as a percentage of the civilian labor force.



chart


Image: FRED




The fact of the matter is that with society aging, the number of people needing healthcare services (and thus healthcare workers) seems like one, rock-solid secular trend that has almost no chance of not continuing.



Every time the latest jobs data comes out, we pore through a lot of information, and we can say with certainty that there's no other category that looks like this. Every other sector is affected by cyclical trends in some way.



What's more, if the country is ever going to get a handle on surging healthcare costs, the answer will almost invariably require MORE healthcare workers (doctors, nurses, walk-in clinicians), since expanding the supply is how you get the price of anything down.



If you want a job, this seems like your bet.

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