Sep 9, 2019 - Economy

Health care has been adding jobs for over 5 years

Data: BLS; Chart: Andrew Witherspoon/Axios
Data: BLS; Chart: Andrew Witherspoon/Axios

The health care industry added almost 24,000 jobs in August, helping to buoy overall employment growth amid economic fears associated with the U.S.-China trade war.

The big picture: Almost 1 out of every 9 Americans works in health care, and the industry has not seen a net loss of new jobs in any month since January 2014. But everyone's insurance premiums and tax dollars are funding this swelling workforce.

Between the lines: More than half of all health care job additions occurred in ambulatory settings, like doctors' offices, outpatient centers and home health agencies.

The bottom line: Health economist Uwe Reinhardt famously said, "Every dollar of health spending = someone else's dollar of health care income." A consistently growing workforce means it'll be that much more difficult to control the country's ballooning health care spending.

Go deeper