July 14, 2024

Holistic Pulse

Healthcare is more important

Healthcare sector adds 49,000 new positions in June

2 min read

The June employment report came in hotter-than-expected on Friday, with nonfarm payrolls increasing by 206,000, surpassing economist projections of 190,000. Healthcare emerged as a robust sector in this employment print, contributing 49,000 jobs in June alone.

Yahoo Finance health reporter Anjalee Khemlani breaks down the significant job growth within the healthcare industry and some of the biggest pressures it faces in retaining workers.

For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

This post was written by Angel Smith

Video Transcript

The health care sector added 49,000 jobs in June down from the 68,000 health care jobs added in.

May you find senior health care reporter Angeli Kani has been digging into the numbers, Angeli?

That’s right, Brian, we know that of course, uh the health care jobs have been really adding at a at a quite a clip in the last several months.

But now we’re seeing this downturn in the monthly average uh 64,000, we saw 22,000 jobs added in the health uh ambulatory health care services and 22,000 at hospitals.

And those have been really the key areas of jobs added for the last several months.

I’ve been looking into what has been happening in the last year.

We saw those blow numbers month over month for the last uh year since April really of last year.

And what is the story behind the story is really that we’ve seen uh a high turnover within the sector and that’s been one of the drivers of these job gains, things like burn out line demand and supply between where jobs are and where jobs are being applied as well.

As payer squeeze from the insurers, you know, paying less and causing uh uh a little bit of a squeeze there for those hospitals and those health care systems.

Meanwhile, costs are rising for those very same facilities with these burnouts.

So it’s really just a bad cycle right now for the health care sector.

And this could be why we see a little bit of fluctuation.

We do know that there are also shifts in where doctors and health clinicians are going uh where it goes to maybe telehealth or other areas where there is better work life balance.

So those are all playing a role in what we see with these numbers month over month.

And we did see a bit of a dip this month after really some record numbers if you take a look at sort of the history over it, but definitely keep an eye on on how this pans out for the rest of the year.

All right, Angeli, thank you so much, keeping close tabs on the health care sector.

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