Job growth in the healthcare sector could be slowing, according to data released Friday by the Bureau of Labor Statistics.
The healthcare sector overall gained approximately 38,000 jobs in December. That’s fewer jobs added per month than had become the norm over the past year or two.
Monthly job growth in healthcare in 2023 averaged more than the rate in 2022, however. Job growth in healthcare averaged 55,000 per month in 2023, compared with the 2022 average monthly gain of 46,000 jobs per month.
Healthcare job growth in December primarily occurred in ambulatory healthcare services, which added 19,000 jobs, and hospitals, which added 15,000 jobs in December. The data show no statistical gains for employment in nursing homes and residential care facilities.
Overall, total nonfarm payroll employment rose by 216,000 jobs in December, and the unemployment rate was unchanged from the previous month, at 3.7%. The approximate number of unemployed persons essentially was unchanged at 6.3 million, according to the BLS.
Government employment increased in December, as did employment in social assistance and construction. The retail trade, leisure and hospitality, and professional and business services noted little growth, and employment in transportation and warehousing declined in December.
“The total job growth was well above Dow Jones estimates, which forecast 170,000 jobs as economists were expecting a slower hiring rate and markets were looking for the right balance between jobs creation and inflation control,” United Press International reported.
