Unemployment rates in the United States are at their lowest levels since 1969, and so far in 2018, health care has added 302,000 jobs. The industry, along with warehouse, business service and transportation, have all fueled the economy’s growth.
September’s health care employment rose by another 26,000, with the majority of the jobs coming from ambulatory services.
Registered nurses account for the highest number of professionals in the health care industry, with over 3 million RNs. The industry has exploded due to an aging population, with more men showing up in their men’s scrubs to fill in positions, in a surprise change in the woman-dominate industry.
The aging population will lead to registered nurses accounting for 3% of the country’s job creation over the next five years. There are 255,047 jobs in the field that are expected to be added during this time. Estimates suggest that some 2.3 million new health care professionals will need to be added to the country by 2025 to keep up with the population living longer.
Registered nurses often work three, back-to-back days of 12 hours per day. Some will work 13-14-hour shifts, and then they will have time off. The nursing industry, a taxing profession, pays $33.55 per hour on average, with the averaged certified registered nurse anesthetist earning $140,000 per year.
Industry experts are concerned that the aging population, which will reach the pinnacle by 2026, will not have enough caregivers to properly care for them. There’s already a shortage of health care professionals and caregivers, and the issue is expected to get worse.
Baby boomers reaching the retirement age will make the gap in health care professionals even worse. People are living into their 80s, and there’s a major increase in preventative care that isn’t going to slow down.
Retirement home turnover rates are also rising, and this is leading many of the elderly to suffer with subpar care.
There are also nursing professionals with 30+ years of experience which will need to be replaced with less qualified, experienced professionals. Long-term care expenses continue to rise, too, as many professionals claim that the lack of professionals to fill the ranks is making the matter worse.
Statistics show that today, there are 46 million elderly people, those 65 and older, in the United States. This figure is expected to double to 98 million by 2060, causing the demand for health care professionals and nurses to double as well. The number of old people in the United States is expected to outnumber children, with a transformative change expected in 2030.