Health care employment is down 3.2% since February of 2020. It’s not the overall percentage that’s the problem but the distribution.
by Mike ‘Mish’ Shedlock
Mish Talk
Looking at the above chart it’s likely difficult to clearly spot a problem. But there’s big one lurking.
Curiously, one of the problems is easier to spot on a long-term chart.
Health care and Social Assistance Employment Since 2000
[…] Nursing and Residential Care stands out like a sore thumb. It turns out that at least one segment of health care is not recession proof (or at least covid proof).
Even still, the overall strength of the sector masks the magnitude of the problem. Let’s stop for a moment and look at the components .