By Dave Herwitz, Director of Admissions, ABC Training Center
Two weeks ago, the US Department of Labor published its latest job report (http://www.bls.gov/news.release/empsit.nr0.htm). My friends, the news was not good. In fact it was rather grim. After several months of growth, the economy added only 54,000 new jobs in the month of May. In a country of over 300 million, that 54,000 number is downright scary. The job news had an immediate effect on Wall Street as all of the major indexes dipped. The Dow fell over 130 points just after the opening bell the day following the report. Couple that with the recent reports that the housing market is still struggling mightily, and the story is even more depressing.
That is unless you work in the healthcare field.
That’s right. The lone bright spot in the US Labor Report centered around only 2 industries that actually grew during the recession. One of them was healthcare. The New York Times reported:” The biggest gains were in professional and business services and in health care services, which grew steadily even during the recession.” Think about it for a second. While every other sector was eliminating jobs, the healthcare services sector was adding jobs around the country. And the beautiful thing about it is that the end is not in sight. The job growth is forecasted to continue. This is something we’ve been preaching for years.
According to The Times, Paul Ashworth, chief United States economist at Capital Economics said: “The economy clearly just hit a brick wall.”
There’s nothing wrong with hitting a brick wall. Just make sure you hit it hard enough to bust it down and keep going. Just ask someone in the healthcare field.
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