What does growth in jobs in the medical field mean?
Even though growth in jobs in the medical is good news for job industry, most health care experts are not happy with this growth as this is an indication of declining health of people.
Even though most sectors in the economy are showing dismal job numbers, the health care sector is the top sector when it comes to adding jobs. For instance, in July 2011 the health care sector was responsible for 31,000 jobs of the total 117,000 added in the month of July. For a period July 2010 to July 2011, the health care sector was responsible for adding about 300,000 new jobs. If these jobs were not created, the condition of the economy will be worse than what it is today.
Most job experts believe that health care sector will be one of the best sectors when it comes to job growth. According to Bureau of Labor Statistics, the health care sector is likely to generate about 3.2 million new jobs by 2019. This means that annual growth in this sector is expected to be about 22 per cent which is more than 2 times the projected increase for all major industries combines. More than half of the 20 fastest growing occupations in US are in the medical field. Most people are of the view that demand is likely to grow at an alarming pace and the country is likely to face a shortage of qualified doctors and nurses.
One of the main reasons for growth of jobs in the medical field is the increase in aging population. As people become old, their medical requirements become complex and they require a larger health care support system. Also, there is a sharp increase in chronic costly diseases such as hypertension, heart diseases and diabetes. This means more expanses have to be increased in treatment of the disease and more trips to the doctor.
In fact, the increase in jobs in the medical field is an indication of growing health care. Adverse health condition of people is making it difficult for U.S. to reduce and control health care expenses. Today, Americans are spending more on health care that most other developing and developed countries in the world and this expense is increasing by the day.
So even if the job growth in this sector is encouraging, it also indicates the sorry state of the health care system in the country.
To deal with this problem health care experts are looking at ways of streamlining the health delivery system and reducing extraneous cost. Also, Affordable Care Act was passed to put a cap on the on the amount that insurers can spend on administrative cost.
So health care is likely to dominate job scene for next few years but this increase in jobs also indicates our inability to keep our health cost down.
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