Previously, there has been a sluggish growth in the need of health care professionals in the industry. This is because of the oversupply of nurses in their countries and the US as well. The health industry right now is in a completely turned situation, for they are not even hiring fast enough to meet the need of the industry alone. One of the reasons why this is happening is because of the increasing population and an ageing race, which are both a good thing and a bad thing. Nevertheless, the need has never been this high in the recent century.
In over 14 years of data, job openings has never soared this high, a record breaking 910,000 listings are waiting for health care professionals from the 513,000 last year. This just means that there are 1.8 million jobs available for every single person who is going to be hired. Hiring medical professionals barely even budged. This is definitely a great news for the industry professionals who are all seeking work or even a pay raise.
The openings of jobs across all the private employers in the United States has already outpaced the hiring process, and the economy is paving ways to hire faster because of the dire need of the health care industry. For the first time ever in the 14-year history of the need, this might already be making history. Openings outpaced hiring by 1.05. There is relative tight need in health care professionals in the health care market comparing it to other industries such as engineering, or architecture, fashion and so on.
This will also give the employees opportunities to have a pay raise because of the increased job add-ons that they had to do because of the tight under-supply of medical professionals in the market. Wages in the industry alone already grew by up to 2.2% in the year up to April, and increases by 2.3% in the prior months, which was actually the strongest since 2012. The average earnings of the employees per hour increase about 2.3% in May and 2.2% in the previous month.
