Long-term care saw mixed results in the employment situation summary for August, released Friday by the Bureau of Labor Statistics.
Continuing care retirement communities and assisted living communities collectively added 3,300 jobs in August, and home health gained 5,500 new jobs. Jobs in nursing homes and other residential care facilities, however, decreased by 2,600 and 3,600, respectively.
Overall, the healthcare sector added 31,000 jobs last month. That number is about half the average monthly gain of 60,000 over the previous 12 months, the BLS said. Still, the greatest gains among the 142,000 jobs added in the US economy in August were seen in healthcare and construction. Jobs in healthcare services increased by 24,000 last month, mostly in ambulatory care and hospitals.
The jobless rate in August was 4.2% compared with 3.8% a year ago.
“A surge in immigration, which is partly blamed for the jump in the unemployment rate from a five-decade low of 3.4% in April 2023, now means the economy needs to create between 145,000 and 200,000 jobs per month to keep up with growth in the working-age population,” Reuters reported. “Household employment rose 168,000 last month, more than absorbing the 120,000 people who entered the labor force.”
Average hourly earnings increased by 0.4% last month following a 0.2% increase in July.
“Wages increased 3.8% year-on-year after advancing 3.6% in July. Still-solid wage growth continues to underpin the economy through consumer spending,” according to Reuters.
For additional coverage of the BLS report, see McKnight’s Home Care.
