The September 25, 2006 Business Week (www.businessweek.com) cover story is entitled "What is Really Propping Up the Economy" The subhead reads "Since 2001, the health-care industry has added 1.7 million jobs. The rest of the private sector? None"
Quotes:
"Perhaps most surprising, information technology, the great electronic promise of the 1990's, has turned into one of the biggest job-growth disappointments of all time. "
"Almost invisibly, health care has become the main American job program of the 21st century."
"If current trends continue, 30% to 40% of all new jobs created over the next 25 years will be in health care"
"One solution would be to make health care less labor-intensive by investing a lot more in information technology"
What do you think?
1 comment:
The October 16, 2006 Business Week contains a letter from Ronald Bird, Chief Economist of the Labor Department, refuting the earlier article. According to Bird "The Bureau of Labor Statistics projects that the health-care industry will account for 20% of employment growth in 2004-14. That means 80% will be in other industries"
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