Healthcare has displaced Retail as the largest employer in the United States

Some 16.2 million people now work in the Healthcare sector in the United States. Healthcare has displaced Retail as the largest employer in the United States and has been the biggest job creator since the 1990s. 10.8% of all nonfarm jobs are now in healthcare. Here’s a graph of the growth of healthcare jobs,

US total healthcare payrolls 1990 to 2018  

Healthcare as a percentage of total nonfarm jobs,

US healthcare jobs percentage of total 1990 to 2018

 

And a graph of growth of all nonfarm payrolls,

US total nonfarm payrolls 1990 to 2018

 

Job addition of healthcare jobs vs total nonfarm payrolls,

US total healthcare vs total payrolls job additions 1990 to 2018

 

Jobs in healthcare vs retail,

US healthcare vs retail jobs 2019

 

Jobs in healthcare (as a percentage of total jobs) vs retail (as a percentage of total jobs),

US healthcare vs retail jobs percentage of total 1990 to 2018

 

We will write about how big healthcare has become in the U.S. later during the year but just one thing – healthcare is now the second largest expenditure for households in the United States just behind housing and utilities. At the current pace, healthcare will likely be the largest expenditure of households in the United States within the next decade.

US healthcare vs housing spend upto 2017

 

Related:

Healthcare could soon be the largest expenditure of households in the U.S.

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