According to a February 2nd report from the U.S. Bureau of Labor Statistics, the number of healthcare jobs increased by 70,000 in January, with gains in hospitals (+20,000), nursing and residential care facilities (+17,000), and home health care (+15,000). Recent growth exceeds the average monthly healthcare job growth in 2023 of 58,000. In aggregate, the U.S. added 353,000 non-farm jobs in January, similar to the gain of 333,000 in December, and notably higher than averages in early 2023. The nation’s unemployment rate remained at 3.7%, unchanged from December to January. The Bureau’s Job Openings and Labor Turnover report for December 2023 confirms that demand for labor continues to notably exceed supply, with data showing a ratio of 0.7 unemployed persons per job opening – i.e., there are approximately 1.5 jobs for every one individual seeking employment.
