Healthcare job growth in February outpaced the sector's 58,000 monthly average over the past 12 months.
The healthcare sector booked 67,000 new jobs in February, continuing a years-long trend of strong job growth and representing nearly one-in-four (24.3%) of the 275,000 new jobs created in the larger U.S. economy, new federal data show.
Ambulatory care and hospitals lead in job creation within the healthcare sector, each accounting for 28,000 new jobs in February, while nursing and residential care created 17,000 new jobs, according to the Bureau of Labor Statistics monthly jobs report.
The unemployment rate in the larger U.S. economy ticked up 0.2% to 3.9%, BLS says, with 6.5 million people reporting as unemployed, up 334,000 from January. In February 2023, the jobless rate was 3.6%, with 6 million unemployed.
Big job gains in February 2024 were also seen in government (52,000), food service (42,000), social assistance (24.000).
The average hourly earnings for all employees on private nonfarm payrolls in January rose by 5 cents (0.1%) to $34.57. Over the past 12 months, average hourly earnings have increased by 4.3%. The average hourly earnings of private-sector production and nonsupervisory employees rose by 7 cents, or 0.2%, to $29.71.
February and January job numbers are considered preliminary by BLS, and subject to revisions.
John Commins is a content specialist and online news editor for HealthLeaders, a Simplify Compliance brand.
KEY TAKEAWAYS
Ambulatory care and hospitals lead in job creation within the healthcare sector, each accounting for 28,000 new jobs in February, while nursing and residential care created 17,000 jobs.
February's numbers continue a post-pandemic trend of strong job growth in healthcare, which created nearly one-in-four (24.3%) of the 275,000 new jobs in the U.S. economy,