The economy added a net 69K new jobs in May, according to this morning’s Non-Farm Payrolls report.
And nearly half can be attributed to one industry: Healthcare.
Over 30K new jobs were created in this industry.
What’s more, as you can see in the chart below (which measures the monthly change in the industry), there hasn’t been a single negative month in this industry all through the recession and recovery.
And really, over the long term, if you just look at the growth of this industry, it really is a thing of beauty.
For some reason, people sometimes say that healthcare jobs don’t count or whatnot, but we think that’s nonsense. America is ageing. This is the industry of the future!