13 percent of US workforce now employed by healthcare industry. Healthcare inflation out of control.
from My Budget 360
Like most industrialized countries the United States has a large number of people entering into old age. The baby boomer generation is living longer and just because life expectancy is extended, this doesn’t mean people are healthier if we measure quality of life. We have a major problem with obesity and all the implications that come from that. So it is no surprise that 13 percent of the US workforce is now employed by the healthcare industry. How big of a change is this for our economy? It is big and signifies a 44% increase from 1991. Consider hot sectors like nursing homes, ambulatory services, and hospitals as growth industries. You also have a plethora of pharmaceutical companies to cater to this new older population that in many cases, barely has enough money to survive in retirement. Inflation in healthcare services is also out of control.