< back to insights gallery

What do the latest job numbers say about the health care sector?

REAL ECONOMY BLOG | December 02, 2022 | Authored by RSM US LLP

According to the latest nonfarm payroll jobs report published by the Bureau of Labor Statistics, health care added 44,700 jobs, which exceeded our estimate of 40,000. The overall economy added 263,000 jobs last month, a slight increase over October’s 261,000. These results also exceeded the consensus estimate of 200,000 new jobs for November.

Health care accounted for only 17.0% of new jobs, which is down from October’s 20.2% and the trailing three-month average of 19.5%. Strong services and government job hiring accounted for much of the overall November gains.

The much-watched senior care sector added 10,400 jobs compared to our estimate of 8,000. However, despite this news the sector will remain below pre-pandemic employment for some time. Even if the sector added 10,000 new jobs per month, it’s likely conditions would not return to pre-pandemic employment until the third quarter of 2025.

senior care employment

The takeaway

While other health care sectors’ employment is back to pre-pandemic levels, demand for services continues to outpace supply of necessary labor across all health care services. While senior care operators are in a generally tighter spot, most health care organizations are facing suboptimal employment levels relative to demand. Innovation and technology could bridge what has become a systemic labor shortage.

Let’s Talk!

Call us at (541) 773-6633 (Oregon), (208) 373-7890 (Idaho) or fill out the form below and we’ll contact you to discuss your specific situation.





  • Topic Name:
  • Should be Empty:

This article was written by Matt Wolf and originally appeared on 2022-12-02.
2022 RSM US LLP. All rights reserved.
https://realeconomy.rsmus.com/what-do-the-latest-job-numbers-say-about-the-health-care-sector/

RSM US Alliance provides its members with access to resources of RSM US LLP. RSM US Alliance member firms are separate and independent businesses and legal entities that are responsible for their own acts and omissions, and each are separate and independent from RSM US LLP. RSM US LLP is the U.S. member firm of RSM International, a global network of independent audit, tax, and consulting firms. Members of RSM US Alliance have access to RSM International resources through RSM US LLP but are not member firms of RSM International. Visit rsmus.com/aboutus for more information regarding RSM US LLP and RSM International. The RSM(tm) brandmark is used under license by RSM US LLP. RSM US Alliance products and services are proprietary to RSM US LLP.

KDP Certified Public Accountants, LLP is a proud member of RSM US Alliance, a premier affiliation of independent accounting and consulting firms in the United States. RSM US Alliance provides our firm with access to resources of RSM US LLP, the leading provider of audit, tax and consulting services focused on the middle market. RSM US LLP is a licensed CPA firm and the U.S. member of RSM International, a global network of independent audit, tax and consulting firms with more than 43,000 people in over 120 countries.

Our membership in RSM US Alliance has elevated our capabilities in the marketplace, helping to differentiate our firm from the competition while allowing us to maintain our independence and entrepreneurial culture. We have access to a valuable peer network of like-sized firms as well as a broad range of tools, expertise, and technical resources.

For more information on how KDP LLP can assist you, please call us at:

Oregon Office:
(541) 773-6633

Idaho Office:
(208) 373-7890