An emergency sign points to the entrance to Scripps Memorial Hospital in La Jolla, California, U.S. March 23, 2017. REUTERS/Mike BlakeMore
As a formerly torrid labor market starts to cool, one area of growth continues to churn out new jobs: Health care.
May’s unexpectedly weak jobs report showed most key employment sectors shedding thousands of jobs. However, health care and social assistance added 24,000 new positions during the month — and nearly 150,000 in the last few months alone.
Still, like the rest of the dour data, the sector’s trend was undeniably weaker during the month. The rate of health care jobs added slowed sharply from March and April, creating less than half of the positions it did in the month prior.
The sector’s white-hot jobs growth is