The Role of Health Care in Economic Recovery
Aug 1, 2013, 1:04 PM
The growth of the health care industry—which far outpaced growth in other sectors of the economy over the last decade—helped fuel the nation’s economy recovery, according to a report released last month by the Brookings Institution.
Health care has added 2.6 million jobs nationwide over the last decade, and its employment growth rate (22.7%) significantly outpaced the 2.1 percent growth rate in all other industries.
In the nation’s 100 largest metropolitan areas, health care represents a higher share of jobs today than before the recession struck (2007-2009), the report finds. Thirteen percent of total job growth in those metropolitan areas during the economic recovery can be attributed to health care.
Today, health care accounts for more than one in every 10 jobs in the 100 largest metro areas, ranging from 7 to 20 percent of total employment.
This commentary originally appeared on the RWJF Human Capital Blog. The views and opinions expressed here are those of the authors.