The Wall Street Journal reported today that the traditionally protected jobs in our nation's health care industry are now coming under attack as employers, from hospitals and nursing homes to pharmaceutical manufacturers, feel the effects of the current recession:
Across the country, hospitals are taking financial hits. They are seeing losses in the portfolios that they rely on for investment income. The number of uninsured patients is rising. Elective procedures — which reap big profits — are down at a third of hospitals nationwide. Nursing homes are trimming payrolls. And with state governments continuing to cut budgets and talk of health-care reform from Washington, industry executives are preparing for even leaner times.
-The Wall Street Journal, April 13, 2009
As we have previously reported, WANTED's Hiring Demand data indicates that jobs in the health care sector are not safe, with the number of new job ads dropping into negative territory. It is possible that this trend is now beginning to show up in the economy as actual job losses. Read more »
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