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U.S. Economy Loses a Historic 20.5 Million Jobs in April; Unemployment Soars to 14.7%

Posted by HealthTrust Workforce Solutions on May 8, 2020 12:14:25 PM

As the nation continues to face the largest economic crisis in almost a century, the Bureau of Labor Statistics (BLS) April 2020 Hiring Situation revealed that the economy lost 20.5 million jobs last month, leading the unemployment rate to skyrocket to 14.7%. This is the highest rate seen since World War 2. The data reflects the effects of the coronavirus (COVID-19) pandemic and efforts to contain it.

Amid the worst public health crisis in American history, more than 1.4 million healthcare jobs were lost last month, primarily in ambulatory healthcare services as dental and physician offices closed and elective surgeries came to a halt (-1.2M). Hospital payrolls were down 139,000.

The Report also revealed that if millions of Americans who have been furloughed and expect to return to their jobs are counted, the jobless rate would have almost 5 percentage points higher at nearly 20%.

In the seven weeks since the virus shut down much of the U.S. economy, more than 33 million people have applied for unemployment benefits, as the numbers continue to grow by several million a week.

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Topics: Healthcare, Healthcare Recruitment, Jobs Report, Coronavirus

COVID's Impact on the March 2020 Employment Report

Posted by HealthTrust Workforce Solutions on Apr 3, 2020 1:16:48 PM

The Bureau of Labor Statistics (BLS) March 2020 Hiring Situation confirmed what we already suspected: COVID-19 made a tremendous impact on job growth and hiring in March. The U.S. economy lost 701,000 jobs and the unemployment rate jumped to 4.4%, up from a half-century low of 3.5% in February. This ended the decade-long record of employment growth marking the first and steepest decline in payrolls since the Great Recession. 

The strict measures put in place to help contain the spread of the virus have left many businesses shuttered with the majority of Americans ordered to stay at home outside of essential workers, which include our important healthcare workers on the front lines fighting the virus. 

Healthcare lost 42,500 jobs last month, with the vast majority within ambulatory care (-40,700). Hospital job growth was virtually flat. The healthcare unemployment rate grew from 2.2% in February to 2.8% in March. Over the prior 12 months, health care employment had grown by 374,000. 

The U.S. has the highest number of confirmed cases of COVID-19, with more than 245K people infected, according to the latest Johns Hopkins University data available at this time.  

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Topics: Healthcare, Healthcare Recruitment, Jobs Report, Coronavirus

Robust Job Gains Continue in February; Healthcare Adds 31,600 Jobs

Posted by HealthTrust Workforce Solutions on Mar 6, 2020 11:38:31 AM

Job growth remained robust throughout the month of February, adding 273,000 new jobs amid economic fears of the potential Coronavirus (COVID19) impact. The BLS Economic Situation also reported that unemployment rate ticked down slightly to 3.5% last month. Healthcare remained a job growth engine, adding 31,600 new jobs. Healthcare has added 368,000 new jobs in the last 12 months.

If you are interested in exploring new career opportunities with HealthTrust Workforce Solutions, please click the button below to browse our available jobs.

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Topics: Healthcare, Healthcare Recruitment, Jobs Report, Coronavirus

U.S. Economy Kicks Off 2020 With Robust Job Creation

Posted by HealthTrust Workforce Solutions on Feb 7, 2020 12:00:17 PM

The 2020 new year kicked off with strong economic growth with the U.S. economy adding 225,000 new jobs in January. The latest BLS Economic Situation revealed that healthcare added 35,500 new jobs or nearly 16% of all job creation last month.  The unemployment ticked up slightly to 3.6% from 3.5%, an indicator that more people are entering the job market. 

Job growth within ambulatory care accounted for 22,500 jobs and hospitals added 9,700 new positions in January. Healthcare has added 361,000 new jobs in the last 12 months.

If you are interested in exploring new career opportunities with HealthTrust Workforce Solutions, please click the button below to browse our available jobs.

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Topics: Healthcare, Healthcare Recruitment, Jobs Report

Final Jobs Report of 2019 Reveals that Healthcare Created 399K New Jobs in 2019

Posted by HealthTrust Workforce Solutions on Jan 10, 2020 11:02:47 AM

The U.S. economy created 145,000 jobs in December 2019, according to the final BLS Economic Situation report of 2019. The healthcare sector contributed 28,100 new jobs last month, accounting for nearly 20% of all job growth. The unemployment rate remained at 3.5%.

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Topics: Healthcare, Healthcare Recruitment, Jobs Report

Healthcare Hiring Booms in November Amid a Strong Jobs Report

Posted by HealthTrust Workforce Solutions on Dec 6, 2019 10:01:21 AM

The latest BLS Economic Situation report revealed that the economy created a robust and unexpected 266,000 new jobs in November, with the healthcare sector once again leading the way contributing 45,200 jobs or nearly 17% of all job growth.

The unemployment rate dipped to 3.5%, the lowest since 1969. This was the largest increase seen in the last 10 months amid the longest economic expansion in U.S. which has lasted for 11 years.

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Topics: Healthcare, Healthcare Recruitment, Jobs Report

October 2019 Jobs Report Doesn't Disappoint; Healthcare Hiring Continues

Posted by HealthTrust Workforce Solutions on Nov 1, 2019 12:33:34 PM

The U.S. created 128,000 new jobs in October and summertime hiring was upwardly revised, according to the latest BLS Economic Situation.  In addition to the new gains, updated figures for August and September added 95,000 more jobs than initially reported.

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Topics: Healthcare, Healthcare Recruitment, Jobs Report

Healthcare Adds More Than a Quarter of New Jobs in September: Unemployment Reaches 50-Year Low

Posted by HealthTrust Workforce Solutions on Oct 4, 2019 10:49:08 AM

The latest BLS Economic Situation reported that the U.S. economy created 136,000 new jobs in September and the unemployment rate dropped to 3.5% reaching a 50-year low.  Healthcare contributed more than a quarter last month’s job growth, adding 38,800 jobs to the economy. The bulk of new healthcare jobs were within ambulatory care (28,700), with hospitals adding 8,100 jobs.

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Topics: Healthcare, Healthcare Recruitment, Jobs Report

Healthcare Accounts for 18% of the Creation of 130K New Jobs in August

Posted by HealthTrust Workforce Solutions on Sep 9, 2019 10:13:30 AM

The latest BLS Economic Situation reported that the U.S. economy created 130,000 new jobs in August and payroll wages have increased by 3.2% over the past 12 months. The healthcare sector continues to boost the Jobs Report, contributing 23,900 jobs and accounting for 18% of all job creation last month.

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Topics: Healthcare, Healthcare Recruitment, Jobs Report

U.S. Economy Adds 164,000 New Jobs in July 2019; Nearly 20% of Growth Within Ambulatory Care

Posted by HealthTrust Workforce Solutions on Aug 2, 2019 11:59:03 AM

The U.S. economy created 164,000 new jobs in July and the unemployment rate remained unchanged at 3.7% nationally. The healthcare sector added 30,400 jobs, with nearly all job creation occurring within ambulatory care settings.

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Topics: Healthcare, Healthcare Recruitment, Jobs Report

  

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