Healthcare leads jobs growth, reports show
The Bureau of Labor Statistics reported that 155,000 jobs were added to the economy last month, with the healthcare industry alone responsible for 19,000 of these newly added positions.
According to the Center for Health Workforce Studies at the University of Albany, State University in New York, more than 4.2 million healthcare employment opportunities are expected to be added by 2020.
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The report concluded that the U.S. will be requiring workers to fill nearly 7.5 million new and existing positions over the next seven years. While experts may be conflicted over when the next economic boom may occur, the medical field is already experiencing this economic growth, abounding with its own employment opportunities.
The Employment Situation Summary from the Bureau of Labor Statiistics came back with good news for workers in healthcare and other professional industry positions in April. Although some lawmakers were concerned that job creation is stalling, not all experts agree.
"There have been some concerns that the economy may be headed for a repeat of last year’s spring and summer slowdown. While job gains may indeed hit a lull in the coming months, we do not foresee a sudden upsurge in downsizing activity,” says John A. Challenger, chief executive officer of Challenger, Gray & Christmas, quoted in a report from Medzilla, a career website. Challenger added: “Even with the increased job cuts in consumer products, retail and transportation, the monthly totals remain well below levels that would signal a reversal in the recovery.”
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Reminiscent of some of Challenger’s sentiments, Nariman Behravesh, chief economist for the economic research company IHS says that with an aging population and the struggle by policymakers to contain medical spending, healthcare “is almost recession proof.”
There have been other indications of the overall job situation picking up momentum. According to recent reports, relocation assistance, hiring bonuses and other incentives are starting to make a comeback for all levels and positions.
"There are certain indicators you start to see when things are beginning to improve for job seekers. It’s been an incredibly competitive market recently,” says John Burkhardt, managing director of MedZilla.com. “It’s nice to be able to show that when the opportunities start presenting themselves, they are quality opportunities that our applicants can be excited about applying for. That’s what we find happening now and it’s a great sign for economy," Burkhardt continued.