May 2015 Health Sector Economic Indicators Briefs

Economic Indicators | May 13, 2015

The health services sector added 45,000 jobs in April 2015, continuing the surge that began roughly 1 year ago. On a year-over-year basis, health job growth now comfortably exceeds nonhealth growth at 2.7 percent versus 2.1 percent. Health care prices in March 2015 were 1.3 percent higher than in March 2014, but hospital prices rose a scant 0.4 percent, while physician and clinical services prices actually fell 0.6 percent. Prescription drug prices rose 5.7 percent, the second highest reading since February 2002. And preliminary estimates show that national health spending in March 2015 was 6.8 percent higher than in March 2014. At $3.2 trillion, health spending now represents 18.1 percent of gross domestic product, the first time ever this share has breached the 18 percent level.

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