The New York CNN Business recently covered news on the labor market. In the news report, they have stated that the country’s health industry works as the infrastructure that gives the labor market its strength.
It is so strong, that statistic says that the health care industry will be unaffected even in case of recession or political change. As time passes, people get older and older. Hence, as people live longer, they need medical and health assistance to survive.
This is where the health care industry comes into play.The Chief of Glassdoor, the Economist Dr. Andrew Chamberlain, has said in his interview, “Health care is by far the largest and healthiest sector of the economy.”
According to experts like Andrew, the sector will keep on cherishing as long as people get sick and require care to survive. They have also added that it is one of the biggest reasons for the labor market from taking a hit from recession or political changes.
Recently, Barnie Sanders and Elizabeth Warren, who are running as the presidential candidates, have stated that they want to bring radical changes to the health care business. Yes, there will be a change in prices and payment system, but those who need such services will surely get it.
Also, the candidates have stated, “I don’t worry about [potential] health care reform affecting hiring, which is mostly nurses and elderly care,” according to Chamberlian. And according to an analyst agency called Moody, has said that no other market has brought such a vast number of jobs in the US economy like health care.
In 2018, the agency’s made two bold and confident remarks: “The growing US health care industry supports the US economy through output, employment, and innovation.”
“The sector has created more jobs than any other industry on a net basis over the past decade — nearly three million — and today employs 16 million people or 11% of the workforce.” These bold comments provided by the agencies and reassure us that the labor market will keep us from recession.
And the Bureau of Labor Statistics has deduced the home health aides, nurses, and post-secondary education on health-related subjects as one of the top-10 rapidly growing jobs in the market.
Furthermore, other healthcare-related jobs like therapy, care aides, other health-related jobs are one of the 20 most wanted jobs in the market. Hence, it is decreasing the rate of unemployment gravely.
Recent statistics show that in 2030 about 16 percent of the world population will be above the age of 65. This is much higher than the current 9 percent,and therefore, it is obvious the number of older people is increasing day by day. So, we can rest assured that there will be no scarcity for the demand of health care jobs.
Europe is known to hold the highest position when it comes to a better population of older people, and America comes second. The opportunities are much higher. But the only drawback in the USA is that the prices of health care are much steeper than in other countries so people might be hesitant.