According to a June 2nd report from the Bureau of Labor Statistics, the number of healthcare jobs in the U.S. increased by 52,400 in May, similar to the average monthly gain of 50,000 over the prior 12 months. This growth was unevenly distributed within the sector, with a rise of 8,900 jobs in nursing and residential care facilities and 5,800 in home health care, for example, compared to 19,600 in hospitals. In aggregate, the U.S. added 339,000 non-farm jobs last month. The nation’s unemployment rate increased by 0.3 percentage point to 3.7% in May, a rate that has ranged from 3.4% to 3.7% since March 2022, according to the report. As aging services providers are acutely aware, however, the Bureau’s Job Openings and Labor Turnover report for April 2023 (released May 31st) confirms that demand for labor still notably exceeds supply, with data showing a ratio of 0.6 unemployed persons per job opening – i.e., there are approximately 1.8 jobs for every 1 individual seeking employment.
