January 2019 Health Sector Economic Indicators Briefs

These monthly briefs analyze the most recent data available on health sector employment, spending, prices, and utilization—helping to fill gaps in the official government data.

Note: Unavailability of GDP data due to the partial government shutdown precludes us from reporting GDP-related results for November (including the GDP deflator which we use to compare health care prices with economy-wide prices).

Below are highlights from this month's reports:

• At $3.73 trillion (seasonally adjusted annual rate), national health spending in November 2018 was 4.7% higher than it was in November 2017; this marks the third consecutive month in which health care spending growth was below 5.0%. 
• Health care prices in December 2018 rose 1.4% above December 2017, down from 1.5% in November. The full-year rate was 1.8% compared to 1.6% in 2017 and 2016, and 1.1% in 2015 (record low). 
• Drug price growth at -0.6% in December was the lowest year-over-year rate since 1973. Full-year drug prices were up 1.6% in 2018, the lowest since 0.6% in 2013. 
• Year over year (December 2018 compared to December 2017), health jobs grew by 2.2% while non-health jobs grew by 1.7%; the health share of total jobs is at a new all-time high of 10.79%.

These monthly briefs analyze the most recent data available on health sector employment, spending, prices, and utilization—helping to fill gaps in the official government data.

Note: Unavailability of GDP data due to the partial government shutdown precludes us from reporting GDP-related results for November (including the GDP deflator which we use to compare health care prices with economy-wide prices).

Below are highlights from this month's reports:

• At $3.73 trillion (seasonally adjusted annual rate), national health spending in November 2018 was 4.7% higher than it was in November 2017; this marks the third consecutive month in which health care spending growth was below 5.0%. 
• Health care prices in December 2018 rose 1.4% above December 2017, down from 1.5% in November. The full-year rate was 1.8% compared to 1.6% in 2017 and 2016, and 1.1% in 2015 (record low). 
• Drug price growth at -0.6% in December was the lowest year-over-year rate since 1973. Full-year drug prices were up 1.6% in 2018, the lowest since 0.6% in 2013. 
• Year over year (December 2018 compared to December 2017), health jobs grew by 2.2% while non-health jobs grew by 1.7%; the health share of total jobs is at a new all-time high of 10.79%.