According to an October 6th report from the U.S. Bureau of Labor Statistics, the number of healthcare jobs increased by 41,000 jobs in September, compared with the average monthly gain of 53,000 over the prior 12 months, and falling from the 71,000 added in August. Over the month of September, employment continued to trend up in hospitals (+8,400), nursing and residential care facilities (+8,200), and home health care (+6,400), however the growth in each of these categories was slower than it had been in both July and August. In aggregate, the U.S. added 336,000 non-farm jobs in September, significantly higher than the total of 187,000 that were added in August.
The nation’s unemployment rate remained low and was unchanged at 3.8 percent in September. The Bureau’s Job Openings and Labor Turnover report for August 2023, however, 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.
