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Without health care jobs and funding, US would have been in a deep recession - Jacksonville Business Journal

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Without health care jobs and funding, US would already be in recession

and others — that health care and life sciences research and commercialization are increasingly playing a bigger role in our economy in creating jobs and forcing the dollar to move downstream to help affiliated services tied to the sector., the health care and the social assistance sector created 72,000 jobs in October — dwarfing every other sector followed by the folks at the Bureau of Labor Statistics. But it is not an anomaly.

That is driving up health care wages. In another report released Oct. 28, the Bureau found that wages and salaries increased 5.1 percent over a one-year period ending in September 2022. In the year before that, ending September 2021, wages and salaries increased by 4.2 percent. while the private sector overall experienced a net jobs decline of 1.5 percent, due to the steep job losses experienced during the initial pandemic wave and economic shutdowns of 2020. Bioscience industry establishments and average wages also have risen at double-digit rates over the latest three-year period.

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