Wednesday, December 10, 2008

Higher Job Loss and Bigger Health Care Industry

By Ethan Kalvin

The New York Time reports that in November, a shocking 533,000 jobs were lost. That makes the national unemployment rate 6.7 percent. Almost all industries seem to be effected by our weak economy, all but one- the health care industry.

In November, the health care industry added 33,800 jobs, making the growth at 0.3 percent, stated Modern Healthcare. Also, hospitals and physician offices grew steadily in 2008. Which gives them an increase in employees of 3.1 percent.

This makes a lot of sense when you think about it. Obviously, health care is always going to be a demand. And even when things get tight, you will find ways to take care of health care. Health plans' costs are another story, entirely.

There are other reasons for the growth, says an analyst for Stifel Nicolaus. Americans that have chronic health conditions, for instance obesity, is steadily increasing.

The demand grows when more people have chronic ailments. Hawkins says, "With that volume comes jobs to take care of these folks.

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