Healthcare Industry Drops Jobs for Month of December

In the month of December, healthcare companies across the country dropped 6,000 jobs. This is the first time since July of 2003 that the healthcare industry saw a drop in jobs for a month, according to CNN Money. The report, from the government, brings this news following a full year of hiring slowing down.

There were 3,900 jobs lost in the nursing home sector. There were 3,700 jobs lost in the home healthcare sector. At hospitals, 2,400 jobs were lost and physicians’ offices dropped some 1,200 jobs.

In 2012, healthcare added 320,600 jobs. In 2013, the industry gained only 207,600 jobs, which made it the slowest year of growth in the industry since 1999.

“There needs to be a pause, which may lead to a reduction of jobs,” said Stuart Altman, a health policy professor at Brandeis University.

There was another report released on Friday that showed health care spending staying the same for a fourth consecutive year. In 2012, health care spending increased by 3.7 percent. This data was provided by the Centers for Medicare and Medicaid Services.

“Since health spending has slowed down, we should expect at least some layoffs — though not many,” said Uwe E. Reinhardt, an economics professor at Princeton University.

Experts, including Altman, said, “In the long run, given the aging of the population and the need for health care, jobs will be added in the future.”