Even with the slower job growth, Smith remains bullish on the job growth prospects healthcare sector. "Despite all of these short-term adjustments we have to make to the industry our forecasts still show healthcare as being a robust and buoyant sector over the next couple of years," she says. "Not only will it continue to grow. It continues to upscale. The newer entrants will certainly look different in terms of the credentials they hold compared to the existing workers who are there now."
More than 14.5 million people worked in the healthcare sector in July, with more than 4.8 million of those jobs at hospitals and more than 6.5 million jobs in ambulatory services.
In the larger economy, nonfarm payroll employment rose by 162,000 in July, with most of the new jobs coming in retail sales, food service, financial activities, and wholesale trade. The unemployment rate fell slightly to 7.4%, BLS reports.
Even with the modest gains, BLS said 11.5 million people were unemployed in July, a slight improvement from June. The number of long-term unemployed, defined as those who have been jobless for 27 weeks or longer, fell slightly to 4.2 million people in July who represented 37% of the unemployed.