Can Growth In Education and Health Save The Day?

640,000 new jobs from education and healthcare were created last year. Propelled by aging baby boomers and rising student enrollments, hospitals and schools are still hiring while almost everyone else is cutting back.

Could adding more nurses, teachers, and hospital orderlies really hold off a recession? The answer is yes. What people don’t realize is that health and education combined make up the single largest source of jobs in the U.S., employing 28 million people, or about 20% of the total workforce. What’s more, government funds support many of these jobs, either directly or indirectly, making them less subject to the business cycle. The hidden danger now is that fading tax revenues may cause state and local governments to cut back on their funding for schools and medical care.
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This entry was posted on Wednesday, January 23rd, 2008 at 8:01 pm and is filed under American Education, Healthcare. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.