Health Care Has Become the Lifeblood of the Labor Market
The New York Times • • business
Key Points:
- The U.S. job market remains challenging due to employers' cautious hiring post-pandemic and rapid policy changes from Washington.
- Health care and social assistance sectors added 693,000 jobs last year, offsetting losses in business services, retail, government, and manufacturing.
- The health care industry's growth provides strong job mobility, pay increases, and signing bonuses, exemplified by recent nurse strikes in New York City.
- Despite overall sluggish hiring, health care positions are taking longer to fill, indicating high demand and a persistent labor shortage in the sector.
- Experts view health care as the most reliable job growth area, sustaining employment while other sectors struggle.
