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Healthcare
The document discusses trends in the healthcare industry in the United States. It notes that healthcare accounts for 18% of the US economy and demand for healthcare jobs is growing rapidly. Between 2010 and 2020, the number of healthcare jobs will increase from 10.1 million to 13.1 million. The document also highlights that most new healthcare jobs will require postsecondary education and there will be a need for workers to continuously update their skills and learning through their careers.
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Healthcare constitutes 18% of the U.S. economy. There's a growing demand for education in healthcare professions.
Increasing longevity leads to greater healthcare service demand. Job openings in healthcare will rise significantly.
There are high-skill, high-wage roles vs. low-skill, low-wage jobs. Significant wage gains for professionals, while many support workers earn under $30k.
Most new healthcare roles require postsecondary education. Upskilling, especially in nursing, is essential for career advancement.
The healthcare sector will expand rapidly requiring higher education and ongoing training for workers.
Details for further inquiries and to access comprehensive reports on healthcare trends.
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Healthcare
- 1. Healthcare Anthony P. Carnevale,Nicole Smith, Artem Gulish, Bennett H. Beach June 21, 2012
- 2. Overview • Healthcare accountsfor 18 percent of the U.S. economy, twice as high as in other countries • Demand for postsecondary education in healthcare professional and technical occupations is third fastest growing after science, technology, engineering and mathematics (STEM) and education
- 3. Demand • Americans areliving longer. Adults 75 to 84 use three times as much healthcare as everyone else combined • Due to the growing demand for services and low productivity, the demand for healthcare services over the next decade will grow nearly twice as fast as the national economy
- 4. Demand (cont.) • Between2010 and 2020, healthcare occupations will increase from 10.1 million to 13.1 million jobs • There will be 5.6 million healthcare job openings between 2010 and 2020
- 5. Labor Force • Thereare two labor markets in healthcare: high-skill, high-wage healthcare professional and technical and low-skill, low-wage healthcare support jobs • Healthcare professional and technical jobs—especially doctors and nurses—are responsible for large wage gains in healthcare during the 1990s
- 6. Labor Force • Morethan 70 percent of healthcare support workers make less than $30,000 per year
- 7. Labor Force (cont.) • The gaps that exists between the supply of nurses by education level continues to rise
- 8. Skills Required • Healthcareprofessional and technical jobs demand postsecondary training and advanced degrees, while support jobs demand high school and some college • 82 percent of 5.6 million new healthcare jobs (4.6 million) will require postsecondary education and training
- 9. Trend • Upskilling isgrowing fast, especially in nursing • Rising Bachelor’s degree requirements hinder minorities from securing nursing employment • Healthcare has 22 percent foreign born workers compared to 13 percent of all workers nationally
- 10. Conclusion • Healthcare willcontinue to grow fast and provide some of the best-paying jobs in the nation—but the people in these jobs will increasingly require higher levels of education to enter the field and continuous life-time learning and training once they are part of the industry
- 11. For more information: EmailUs | cewgeorgetown@georgetown.edu Follow Us on Twitter | @GeorgetownCEW Find us on Facebook | Facebook.com/GeorgetownCEW Follow us on LinkedIn | linkedin.com/company/georgetowncew See the full report at: cew.georgetown.edu/healthcare/