While The Economy Worsens and More Jobs Are Lost, The Health Care Industry Grows

While The Economy Worsens and More Jobs Are Lost, The Health Care Industry Grows in General Healthcare

In November a staggering 533,000 jobs were lost, bumping the national unemployment rate to 6.7 percent from 6.5 percent, reported The New York Times.

Just about every industry is being hit in the weak economy except one ̬ the health care industry.

In the health care sector, 33,800 jobs were added in total for November for a monthly growth of 0.3 percent, reported Modern Healthcare.

Further, hospitals and physicians offices are also showing steady growth in 2008. This year, hospitals and physicians offices both increased their employee count by 3.1 percent.

It does make sense that this might be the case. Health care services are always in demand — and when budgets become tight, one’s health will usually trump other expenses. (Costs for health insurance plans, however, are another story.)

But there are other factors to the growth, as well, pointed out one health care analyst.

According to Robert Hawkins, an analyst at Stifel Nicolaus, the increasing number of Americans with chronic health conditions such as obesity is one of the main factors in health care growth.

The more people who have these chronic conditions, the more there is demand for health care professionals.

“With that volume comes jobs to take care of these folks,” said Hawkins.

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