Despite Weak U.S. Employment Numbers Overall, Healthcare Jobs Continue Steady Climb
Last Friday’s very weak jobs report from the Bureau of Labor Statistics (BLS) was greeted as bad news, but it disguised more good news for the heath sector: Job growth in March kept its steady pace. Obamacare’s healthcare jobs boost appears to be trending nicely despite weakness in February.
Almost one in five of the 126,000 jobs added in March were in health care, as shown in Table 1. Ambulatory facilities continued to add jobs at a faster rate than hospitals, while nursing and residential care facilities lost jobs.
From March 2014 through last month, health jobs grew at 2.49 percent versus only 2.24 percent for non-health jobs, as shown in Table 2. Jobs in ambulatory settings accounted for seven of ten health jobs created in the last twelve months.
Obamacare’s harm to job growth overall has been thoroughly described in this blog. My Forbes colleague Bruce Japsen thinks that Obamacare’s juicing health jobs is a good thing. Let’s not forget that Obamacare is increasing jobs in an inefficient sector while stifling overall growth.
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For the pivotal alternative to Obamacare, please see the Independent Institute’s widely acclaimed book: Priceless: Curing the Healthcare Crisis, by John C. Goodman.