It was long feared that the aging of the baby boomer generation would bring about a healthcare crisis in the United States, and our nation’s politicians have planned accordingly. Cuts to Medicare and Medicaid benefits have been implemented several times over the last decade, and congress has recently proposed a package that would reduce benefits 40% over the next 9 years, while raising premiums 20%. Still, every cloud seems to indeed have a silver lining, as one positive to result from the increased burden to the health care system can be seen in the number of health industry jobs projected to become available over the next ten years. In the next ten years, the single fastest growing employment sector in the U.S. will be in gerontology and senior healthcare.
Still, a new problem emerges when considering the supply of trained healthcare workers vs. the number of adults whose aging is expected to increase the population of the 55 to 65 year old category over the next decade. Worker shortages for the healthcare industry are inevitable, which means career opportunities will be not only plentiful, but more lucrative overall as a result.
According to the U.S. Bureau of Labor Statistics, healthcare related jobs are expected to grow faster than the national average for all other industries through 2014 and likely beyond. The nursing field, in particular, is the second fastest-growing occupation for job growth over the next decade. The number of current nursing professionals approaching retirement is growing far faster than the number of nursing program graduates, and recruitment efforts by healthcare organizations are already underway. Nursing salaries have risen substantially over the last several years, and increases are expected as competition for workers becomes more prevalent. Sign on bonuses that were once unheard of are now commonplace, and those entering the field have more options than ever in terms of the type of facility they wish to work in.
Home health care aid positions are expected to rise as well, with more and more Americans choosing to forgo assisted living options and instead remain independent. Jobs on the administrative end of the healthcare industry are also on the rise as insurance companies brace for the tide of health claims expected to hit the industry. As with all employment sectors that have a limited supply of qualified personnel and an increasing demand for them, wages and salaries will continue to rise until positions are filled.
Those entering college or technical school programs can find increased salary potential and job security in the healthcare sector. While the price of health care is rising, so are the potential employment opportunities in an industry that will struggle to meet the demands of the current aging population.
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