While a lot has been written about the potential impact of the coronavirus on the overall economy, little to no attention has been given to the impact of this virus on the healthcare job market.
Both can be mild, severe, and fatal. Potentially, more than 80% of coronavirus cases are mild. Both can result in pneumonia. Both are treated by reducing the fever and addressing symptoms (e.g., fluid consumption, ibuprofen etc.) Severe cases can require more intensive support. Both can be prevented by frequent and thorough hand washing, staying home when sick, and other hygiene best practices.
*Source: John Hopkins University
The data below compares total job market growth vs. healthcare job growth from 2001 to 2013. The Red Line is the percent growth in Healthcare.
And here is the same data overlaying the employment statistics with major healthcare events and the start of the Great Recession of 2008.
In times of major Economic and Healthcare events, the Healthcare job market is the one bright spot in the American labor market economy*.
Right now is the right time to think about your medical career. The fast growth and opportunities, as reported by the U.S. Bureau of Labor are in the Allied Health sector of the market. We expect for the healthcare employment for professionals such as Patient Care Technicians, Certified Nurse Aides, and Medical Assistants to continue to grow and accelerate in the next 6 months and beyond.
Consider your current credentials, your past experience, and your ideal job profile as you think about your next steps. If you are thinking about a career change, the right healthcare career education can help you earn the required credentials to enter this rapidly growing and in-demand profession. If you are a medical professional looking to extend and advance your career, acquiring additional credentials will open new opportunities for growth. Based on historic analysis and trend data, one fact is certain, as the world reacts to this new flu epidemic, and the economy contracts, the Healthcare job market is one of the only career paths positioned for growth.
Sources: U.S. Bureau of Labor Statistics, World Health Organization, John Hopkins Medicine
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