Hospital Labor Costs Ratchet Up; Wage Growth Still Slow
Compensation costs for state and local government workers fell from 2.3% in 2009, to 1.8% in 2010, owing largely to salary and wage reductions. Benefits costs increased 2.9% for the year, ECI shows.
Despite the trend of slowing growth in total compensation, hospitals continue to be job creation machines. Hospitals created 50,100 jobs in 2010, nearly double the rate of job creation from 2009, and the entire healthcare sector - everything from allergists to X-ray technicians -- created 265,800 jobs in 2010, Bureau of Labor Statistics preliminary data shows.
ECI data for the December report were collected from 63,000 occupational observations selected from 12,900 private sector businesses, and 11,500 occupations from 1,800 establishments in state and local governments. The full report may be viewed here.
John Commins is a senior editor with HealthLeaders Media.
- Drug Pricing 'Tantamount to Greed,' Lawmaker Says
- CVS Ramps Up Retail Clinics with Provider Affiliations
- Study Puts Spotlight on Preventing Fall-Related Injuries
- Wanted: Nurse PhDs
- Surgical Checklists Unused in 10% of Hospitals, CMS Data Shows
- The Infection-Busting Treatment Payers Don’t Want to Talk About
- Contradictory Obamacare Rulings Issued by Appellate Courts
- 4 Tectonic Shifts Shaking Up Healthcare
- As HIPAA Breaches Accelerate, Tools Lag
- Doctors Feel Pressure to Accept Risk-based Reimbursement