Healthcare created one-in-five new jobs in the U.S. economy in the first month of 2024.
Healthcare sector job growth entered 2024 with a full head of steam, creating 70,000 jobs in January, representing 20% of the 353,000 jobs created in the larger U.S. economy, new federal data show.
Healthcare job growth in January was nearly double the 38,000 jobs created in December and well above the sector's 54,000 monthly average in 2023, the Bureau of Labor Statistics reported on Friday.
Ambulatory care continued to lead in job creation within the healthcare sector, accounting for 33,000 new jobs in January, followed by hospitals (20,000 jobs) and nursing and residential care (17,000).
The unemployment rate in the larger U.S. economy held fast at 3.7%, BLS says, with 6.1 million people reporting as unemployed, unchanged from December.
Big job gains were also seen in professional and business services (74,000), retail (45,000), and government (36,000).
The average hourly earnings for all employees on private nonfarm payrolls in January rose by 19 cents, or 0.6%, to $34.55. Over the past 12 months, average hourly earnings have increased by 4.5%. The average hourly earnings of private-sector production and nonsupervisory employees rose by 13 cents, or 0.3%, to $29.66.
January and December job numbers are considered preliminary by BLS, and subject to revisions.
John Commins is a content specialist and online news editor for HealthLeaders, a Simplify Compliance brand.
KEY TAKEAWAYS
Ambulatory care continued to lead in job creation within the healthcare sector, accounting for 33,000 new jobs in January, followed by hospitals (20,000 jobs) and nursing and residential care (17,000).
Healthcare job growth in January was nearly double the 38,000 jobs created in December and well above the sector's 54,000 monthly average in 2023.