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Healthcare Jobs Fueled Growth After Recession

May 4, 2017 ──── MRINetwork
Employment News

Healthcare Jobs Fueled Growth After Recession

Healthcare jobs played a major role in reviving the employment market after the 2007-2010 recession, according to Health Affairs Blog. 

Healthcare jobs have made up 35 percent of the new jobs added since the recession began, with 2.5 million more healthcare jobs today than there were in mid-2007, the source noted, citing data from the Bureau of Labor Statistics. Currently, employment in the sector represents 11 percent of all total jobs in the U.S. 

Furthermore, between 2007 and 2017, the number of available healthcare jobs increased 19 percent. Ambulatory care settings saw the largest job growth rates during this period, at 30 percent, adding the majority of new healthcare jobs. Nursing and residential care settings had the second-highest job growth rate, at 12 percent. 

In March 2017, healthcare created 13,500 new jobs, according to BLS data. Hospitals added 8,700 positions, while ambulatory care added 6,800. 

Recognizing healthcare’s booming job growth, many major banks have created initiatives aimed at developing its next generation of talent, Inside Philanthropy reported. JPMorgan Chase, for example, recently announced a series of grants, valued at $8.6 million, that are designed to help low-income individuals find employment in healthcare. 

Healthcare jobs have made up 35 percent of the new jobs added since the recession began.