Health care is an economic driver. In some respects, it may even be considered THE economic driver across the nation. New reporting shows that without the jobs added by health care, the nation’s job force would be contracting.
Recent data from the Bureau of Labor Statistics showed that the economy produced 359,000 new jobs last year. But what about health care? Health care added 437,000 jobs. As highlighted in a recent article from STAT Healthcare Inc., this means that without the jobs added by health care, the country would have lost 78,000 jobs over the last year. Becker’s also recently reported health care added 81,900 of 130,000 total jobs created nationwide in January.
We see similar trends at the state-level. In Oregon, jobs numbers reported this month show unemployment continues to rise. In an interview with KOBI, regional economist Guy Tauer pointed to the health care sector as a “steady path forward” for job seekers.
As the American demographic shifts with the growth of an aging population, and care models continue to support the need for hands on work and diversified care, health care remains a top provider for jobs.
However, health care is in a dire state and no longer “a steady path forward.” Recent federal legislation is leading to extensive Medicaid cuts, which will undermine much of the fiscal support for the medical industry. As patients lose coverage, health care operations lose the funds to provide services. In addition, increasing regulatory burden in Oregon continues to divert precious resources away from patient care.
Lawmakers in Oregon are currently assessing opportunities to rectify the budget gaps left by recent federal actions, and in so doing, can decide on paths forward that bolster the ability for health care to continue serving as a beacon for economic growth, to support the growing needs of our communities.
