"The nature of healthcare has changed so much so that the worker is doing is so much more complicated and time-intensive work. Healthcare is different from other things because most of it can't be automated," he says. "What you are doing is hard to measure in comparative terms and secondly it's high touch and it can't be outsourced either, for the most part. So yes you are going to create a lot of jobs."
Speaking of new jobs, the Bureau of Labor Statistics reports that the healthcare industry created 12,000 jobs in July, marking the second straight month of slower job growth for the sector that reported 29,500 new jobs in May.
Healthcare created 11,300 jobs in June and 175,400 jobs in the first seven months of 2012 which represents about 16.5% of the 1.059 million jobs created in the larger economy. Healthcare created 173,500 jobs in the first seven months of 2011 and 269,000 jobs for the entire year.
In the larger economy, BLS reported that 163,000 new jobs were created in July, led by 49,000 new jobs in business and professional services and 25,000 new jobs in manufacturing. Despite the better-than-expected numbers, the nation's unemployment rate remained essentially unchanged at 8.3%.