Growth of HealthCare Industry

NEWS: Healthcare Posts Excellent Growth Trajectory

A 4.2 million healthcare jobs is projected by Center for Health Workforce Studies at the University of Albany by 2020 and according to the Employer Needs Assessment Report, 10k employees are required by medical facilities between now and 2013 in Texas alone.

Of the 155,000 jobs added to the economy in April 2012, 19,000 were created by the booming healthcare industry, reported the Bureau of Labor Statistics (BLS).

The health of the healthcare sector was confirmed by the Center for Health Workforce Studies at the University of Albany, State University in New York, which projected that more than 4.2 million healthcare training and jobs would probably be added by 2020.

The figure stands in contrast to the ambivalence of experts over when the next economic boom may occur, considering the inability of the other industries to match the unexpected growth trajectory of the healthcare industry.

"There have been some concerns that the economy may be headed for a repeat of last year’s spring and summer slowdown. While job gains may indeed hit a lull in the coming months, we do not foresee a sudden upsurge in downsizing activity,” pointed out John A. Challenger, chief executive officer of Challenger, Gray & Christmas, according to an article from medzilla.com, a career website. “Even with the increased job cuts in consumer products, retail and transportation, the monthly totals remain well below levels that would signal a reversal in the recovery.”

In Texas alone, according to an Employer Needs Assessment Report, medical facilities are projecting a requirement for at least 10,000 employees between now and 2013.