From worker burnout to staffing shortages, all the news coming out about the healthcare sector’s workforce seems to be consistently bleak—but in reality, the healthcare employment situation isn’t as cut-and-dried as it seems.
According to a report from Bank of America, healthcare payrolls have increased in the past year, recovering from the dip in nonessential healthcare services that happened during the pandemic. We’re still not quite back on track yet—the report says current healthcare employment levels are still below the pre-pandemic trend—but there are “signs of recovery,” according to Bank of America, especially for small healthcare businesses.
As for why healthcare employment levels are lower than expected, it may be because while there’s been considerable payroll growth, payroll spending is relatively low, suggesting that wage growth in the healthcare industry is slow, according to Bank of America.
Keep reading here.—QS
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