May 01, 2014

Industry Highlight: Healthcare Index

DCR TrendLine Healthcare Employment Index

According to a survey by Robert Wood Johnson Foundation, more than 5.4 million adults have gained health insurance since the start of enrollment in ACA through early March 2014.

In 2010, the Bureau of Labor Statistics (BLS) projected that the healthcare and social assistance industry would produce 28 percent of new jobs in the country over the decade. Extended longevity and an aging population, coupled with the large volume of Americans with insurance coverage under Obamacare, are increasing the demand for all areas of health professionals. The BLS estimates that there will be at least 5.7 million new jobs in healthcare by 2020.

Experts project that healthcare wages and salaries will grow by 27 percent over the course of the current year. For 2014, the top positions in healthcare will include biomedical engineers (with a projected job growth of 62%), dental hygienists, occupational therapists, optometrists, physical therapists, and chiropractors.

Top Healthcare Job Projections (by 2022)

Source: U.S. News

The DCR TrendLine Healthcare Employment Index is based on a variety of micro-economic parameters including total non-farm employment, civilian unemployment rate, total non-farm job openings, and personal saving rate. It uses a hybrid regression model, which continues to validate economic factors and includes the best subset.