Labor is one of the only variable costs healthcare has to flatten, says Skinner. In a year or two, when healthcare reform is fully implemented and CEOs are confronted with whether they can afford to grow, that's when an impact on the rate of hiring might occur, he says.
"But I'm not that type of economist—I don't like to make predictions," says Skinner.
The largest area of job growth within healthcare this month, mirroring September, was in ambulatory care, comprising of physician offices, outpatient care centers, and home healthcare services. Ambulatory care as a whole added 25,000 jobs, approximately 81% of total job growth in healthcare.
Physician offices added 11,200 jobs, outpatient care centers added 1,700 jobs, and home healthcare services added 7,900 jobs. Ambulatory care as a whole, like healthcare as a whole, did not create as many jobs in October as it did in September, but within ambulatory care, physicians offices saw almost double the growth they did last month, and outpatient care, when compared to 9,400 increase in jobs created last month, has also seen a reduction in its job growth to 1,700.
Nursing and residential care saw a minor drop in job creation this month by 600 fewer positions. Hospitals created 6,200 more jobs in October, approximately 19% of total healthcare job growth, but a slight reduction from last month's 8,000 new jobs, which mirrored the slowdown in healthcare job growth as a whole this month. Compared to this time last year, healthcare has created 296,300 more jobs overall.