Healthcare Staffing Employment Projections
According to the Bureau of Labor & Statistics, overall nursing employment is projected to increase by 11.5 million over the next decade, an increase from 156.1 million to 167.6 million. The Bureau notes that the healthcare industries and associated occupations are expected to account for a large share of new jobs projected through 2026, as the aging population continues to drive demand for healthcare services. The labor force will continue to grow slowly and to become older and more diverse. The aging population is projected to result in a decline in the overall labor force participation over the 2016 to 2026 decade.
The projections of employment are a great sign, but also result in a higher demand for filling positions over the next ten years, resulting in a higher demand for the need of staffing agencies in all healthcare industry markets.
Further according to the Bureau of Labor & Statistics, employment in the healthcare and social assistant sector is projected to add nearly four million jobs by 2026, about one-third of all new jobs. The share of healthcare and social assistance employment is projected to increase from 12.2% in 2016 to 13.8% in 2026, becoming the largest major employment sector.
Ambulatory Care is the largest employment sub-sector in the healthcare industry, accounting for 7.4 million jobs in December 2017. Hospitals employed approximately 5.2 million ambulatory care professionals while nursing and residential care facilities employed 3.3 million staff members. The high volume of employment within ambulatory care is due to the movement towards value-based care to prevent patient hospitalizations. Home healthcare, outpatient care centers, and medical diagnostic labs fall under Ambulatory Care facilities.
Five out of the ten fastest growing occupations projected from 2016 to 2026 are nursing and Allied Healthcare professionals. Home health aide positions are projected to increase by 47.3%, personal care aide positions are projected to increase by 38.6%, physician assistant positions are projected to increase by 37.3%, nurse practitioner positions are expected to increase by 36.1%, and physical therapist assistant positions are expected to increase by 31% over the span of the 2016-2026 decade.