Washington Post Examines Growth Of Employment In Health Care Industry, Increased Costs

Main Category: Health Insurance / Medical Insurance
Also Included In: Public Health
Article Date: 16 Jun 2008 - 5:00 PST

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The Washington Post on Friday examined how, although the health care industry in the last 15 last years has "pumped out 4.5 million new jobs" and currently employs 16.5 million U.S. residents, the "nation is still figuring out how to pay for it" (Marr, Washington Post, 6/13).

According to the Bureau of Labor Statistics, between 1992 and 2007, the number of employees in the health care industry -- which includes health insurers, wholesalers, providers, retailers and manufacturers -- increased by 40% (Washington Post graphic, 6/13). "No other industry matches this rapid growth spurt," and the bureau predicts that growth in the number of employees in the health care industry will double the estimated growth of all other industries combined by 2016, the Post reports.

However, such "rampant growth comes with a hefty price tag," according to the Post. Health care spending currently accounts for 16% of gross domestic product, and the Congressional Budget Office estimates that spending could account for an estimated 50% by 2082. The U.S. also currently spends more on health care per resident than any other industrialized nation, according to the Organisation for Economic Co-Operation and Development (Washington Post, 6/13).

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