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Thread: The U.S. Economy Can't Hire Health-Care Workers Fast Enough

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    The U.S. Economy Can't Hire Health-Care Workers Fast Enough

    From Bloomberg.com:

    Job openings in the healthcare industry soared in April to a new record high in more than 14 years of data, while hiring barely budged. It's great news for industry professionals who are seeking work or a pay raise...

    The 910,000 listings in the healthcare industry almost doubled the 513,000 who were added to payrolls, meaning there were about 1.8 jobs available for every person who was hired.
    The U.S. Economy Can't Hire Health-Care Workers*Fast Enough - Bloomberg Business

    The complete report can be found at: http://www.bls.gov/news.release/pdf/jolts.pdf

    This data, which runs counter to some of the political narratives related to the health sector, highlights anew the importance of looking at all the variables when trying to assess an industry's future performance. The political/regulatory/tax variable is one aspect that can shape an industry's performance. There are many other variables. When it comes to the health sector, the aging of the population (which is directly related to medical care consumption) is a mega factor.

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    Re: The U.S. Economy Can't Hire Health-Care Workers Fast Enough

    Quote Originally Posted by donsutherland1 View Post
    From Bloomberg.com:



    The U.S. Economy Can't Hire Health-Care Workers*Fast Enough - Bloomberg Business

    The complete report can be found at: http://www.bls.gov/news.release/pdf/jolts.pdf

    This data, which runs counter to some of the political narratives related to the health sector, highlights anew the importance of looking at all the variables when trying to assess an industry's future performance. The political/regulatory/tax variable is one aspect that can shape an industry's performance. There are many other variables. When it comes to the health sector, the aging of the population (which is directly related to medical care consumption) is a mega factor.
    Why would you not expect an industry to expand that produces a good that suddenly is free for all? I don't know, how it will develop, but I would expect an increase in healthcare consumption and higher costs.

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    Re: The U.S. Economy Can't Hire Health-Care Workers Fast Enough

    Quote Originally Posted by joG View Post
    Why would you not expect an industry to expand that produces a good that suddenly is free for all? I don't know, how it will develop, but I would expect an increase in healthcare consumption and higher costs.
    What industry is free for all?
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    Re: The U.S. Economy Can't Hire Health-Care Workers Fast Enough

    Additional data:

    Job openings rose 15.7% on a year-on-year basis (April 2014-April 2015). The sectors that saw the fastest growth in openings were: Education (39.4%), Construction (39.1%), and Health Care/Social Assistance (37.7%). The worst-performing sectors were: Arts, Entertainment & Recreation (-25.6%) and Retail Trade (0.4%).

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    Re: The U.S. Economy Can't Hire Health-Care Workers Fast Enough

    Quote Originally Posted by joG View Post
    Why would you not expect an industry to expand that produces a good that suddenly is free for all? I don't know, how it will develop, but I would expect an increase in healthcare consumption and higher costs.
    Goodness, healthcare is now free for everybody? I admit I didn't know that.


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    Re: The U.S. Economy Can't Hire Health-Care Workers Fast Enough

    Those help wanted ads may be because they are looking for people who will work for less than the person currently holding the position instead of creating new positions.

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    Re: The U.S. Economy Can't Hire Health-Care Workers Fast Enough

    Healthcare professionals have ALWAYS been in demand.

    Especially where I live. Houston.
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    Re: The U.S. Economy Can't Hire Health-Care Workers Fast Enough

    For those who are interested, below were the highest employment and wage growth occupations and worst employment and wage change occupations (May 2013-May 2014). 2015 Data is not available.



    The employment and wage data is from the BLS.

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    Re: The U.S. Economy Can't Hire Health-Care Workers Fast Enough

    Quote Originally Posted by Redress View Post
    What industry is free for all?
    When you get things paid for you used to pay for out of your own pocket, they thus become "free goods" in context of the consumption decision, people will tend to buy more. This will tend to be the case as more people get insured and learn new optimizing behavior.

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    Re: The U.S. Economy Can't Hire Health-Care Workers Fast Enough

    Quote Originally Posted by pbrauer View Post
    Goodness, healthcare is now free for everybody? I admit I didn't know that.
    I don't know your insurance policy, but I pay practically the same if my medical costs are 0 or 100.000 dollars. Yes. As you introduce insurance, Medical services move towards being more or less free goods. Why the whole argument for insurance is based on the assumption. General health insurance is supposed to make medical services available to persons that did not get treatment, because it was too expensive for their wallets.
    Didn't you realize that? That is the whole point.

    So, now they get it for a fixed premium, everything above the premium is free and they start to consume. Where's the surprise?

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