Posted by Brian McCullough
Maybe you saw the headlines this morning. The latest jobs number was pretty terrible. Only 69,000 new jobs were created in May. That doesn’t even keep up with population growth. Even worse, previous months numbers were revised downward. Basically, the job market is stuck in the mud again.
So where ARE the jobs?
Well, any resume writer (like us) could tell you: for years now (at least since the last recession) there’s only one industry that always seems to be hiring. And this Business Insider headline says it all:
The economy added a net 69K new jobs in May, according to this morning’s Non-Farm Payrolls report. And nearly half can be attributed to one industry: Healthcare. Over 30K new jobs were created in this industry. What’s more, as you can see in the chart below (which measures the monthly change in the industry), there hasn’t been a single negative month in this industry all through the recession and recovery.
If you don’t believe me, look at this amazing chart they included in the post:
Yep. Pretty much a straight line up. In fact, Healthcare, as an industry, hasn’t had a negative month of job creation since the last recession.
Where are the jobs? Where are the hospitals?