Revised Spending Data and Gross Domestic Product Spurt Brings Health Share Down to 17.9%
While earlier data suggested a recent acceleration, with revised data, we estimate spending growth of 4.7 percent for the first four months of 2018, barely above the 4.6 percent rate seen for all of 2017. This restrained spending combined with a spurt in gross domestic product growth led to a health spending share falling to 17.9 percent (the high was 18.1 percent in January 2018).
Health sector employment continues to grow at a steady pace, averaging 26,000 new jobs per month in 2018 and over the past 12 months. About two-thirds of this growth has been in ambulatory care settings and about one-third in hospitals. Of note, year-over-year health job growth has been stable near 2.0 percent for about a year. Across the two recent periods of full employment, year-over-year health care job growth grew at a similar rate, averaging 2.2 percent. With strong economy-wide jobs growth, the health share of total
"Health spending growth has shown a small upward trend from 4.3 percent in 2016 to 4.6 percent in 2017 and 4.7 percent during the first four months of 2018," says Altarum Fellow Dr.
In
Health Care Spending
At
See chart here (https://altarum.org/about/news-and-events/revised-spending-data-and-gross-domestic-product-spurt-brings-health-share-down-to-17-9).
Health Care Employment
Health care added 28,900 new jobs in
See chart here (https://altarum.org/about/news-and-events/revised-spending-data-and-gross-domestic-product-spurt-brings-health-share-down-to-17-9).
Health Care Prices
Health care prices in
See chart here (https://altarum.org/about/news-and-events/revised-spending-data-and-gross-domestic-product-spurt-brings-health-share-down-to-17-9).
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