Health care is driving the economy, but not for long

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National Journal has an in-depth look at the role of the sprawling health care industry in the economic recovery, but warns that this trend may not last for long.

“The number of jobs in this sector is climbing steadily, in contrast to the erosion in so many other areas of the economy. Since the Great Recession began in December 2007, health care jobs are up nationwide by 10.5 percent… If the health care economy hadn’t grown during that period, the national unemployment rate would be 8.8 percent, a full point higher than it is.”

“But the long term may not be as rosy… Federal health entitlement programs alone are projected to balloon from less than 6 percent of gross domestic product today to more than 10 percent in 2037…  A health system this pricey won’t be able to keep adding good jobs…without acting like ballast… The health care boom that is propping up the American economy, could eventually come back to haunt us.”

More from National Journal here.

Peter Schorsch is the President of Extensive Enterprises and is the publisher of some of Florida’s most influential new media websites, including SaintPetersBlog.com, FloridaPolitics.com, ContextFlorida.com, and Sunburn, the morning read of what’s hot in Florida politics. SaintPetersBlog has for three years running been ranked by the Washington Post as the best state-based blog in Florida. In addition to his publishing efforts, Peter is a political consultant to several of the state’s largest governmental affairs and public relations firms. Peter lives in St. Petersburg with his wife, Michelle, and their daughter, Ella.