Wednesday, December 10, 2008

Health Industry Gets Larger As Economy Gets Worse

By Ethan Kalvin

The New York Time reports that in November, a shocking 533,000 jobs were lost. That makes the national unemployment rate 6.7 percent. Almost all industries seem to be effected by our weak economy, all but one- the health care industry.

In November, the health care industry added 33,800 jobs, making the growth at 0.3 percent, stated Modern Healthcare. Also, hospitals and physician offices grew steadily in 2008. Which gives them an increase in employees of 3.1 percent.

This does make sense, as their will always be a demand for health care. Even when finances are tight, health always takes a priority over other things. Cost for insurance plans are a completely different topic.

There are other reasons for the growth, says an analyst for Stifel Nicolaus. Americans that have chronic health conditions, for instance obesity, is steadily increasing.

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. - 16492

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