Physical Therapy Jobs Continue to Grow
Lately, it's impossible to open the newspaper or even turn on the television without hearing bad news about the U.S. economy. According to CNNMoney.com, over 2.6 million jobs were lost in 2008; that's the highest annual job loss since 1945.[1] Unfortunately, the forecast for the future isn't much better. A report published by UCLA's Anderson School of Management predicts the unemployment rate will rise above 10% by mid-2010.[2]
All the bad news is enough to make you want to crawl under the covers and stay there, but before you put your pajamas back on, physical therapists should get ready to hear some good news.
In 2008, healthcare saw a net gain of 419,000 jobs, and the Bureau of Labor and Statistics predicts growth for the industry through 2016. You've already heard that aging baby boomers, advances in technology, and impending changes to healthcare policy are driving this growth,[3] and the statistics confirm the rumors. Last October, while 240,000 jobs were cut nationally, 26,000 jobs were added in the healthcare industry.[4] Perhaps a surprising reason for this growth could be the declining economy. Tough economic times create widespread anxiety, and high levels of stress contribute to an array of health problems from heart attacks to mental illness.[5]
On the flip side of that argument is the concern that with increasing job losses, many consumers can no longer afford healthcare and won't seek treatment as frequently as they once did. Furthermore, hospitals and physician offices are struggling to deal with uninsured patients and bad debt, as well as a drop in elective procedures.
These are unsettling times for every industry, but despite the news of layoffs at hospitals, health plans, and pharmaceutical companies, the overall outlook for jobs in the healthcare industry is still positive. John Challenger, chief executive of the outplacement consulting firm Challenger, Gray & Christmas, says when it comes to the healthcare industry, "Long-term forces are outweighing the short-term recessionary forces." Despite economic woes, the aging population will drive the need for more geriatricians, physical therapists, and nurses of all kinds.[3]
The Bureau of Labor Statistics' Occupational Outlook Handbook, 2008-09 Edition confirms that job growth will be strongest for nurses and physical therapists. For nurses, the highest employment rates will be in physician offices and home health services. Thanks to advances in technology and a greater focus on preventative care, people are living longer and many older patients prefer to be treated at home. For this reason, employment in home health services will rise faster than employment in nursing homes, though both industries will see growth. Nursing opportunities in hospitals will continue to be available as a result of high turnover, but actual growth is not likely due to more procedures being done on an outpatient basis and patients being discharged earlier.[7]
New medical developments and an aging population will also influence employment for physical therapists. Recent medical advances result in more and more trauma patients surviving – often with injuries and disabilities that require physical therapy. Likewise, due to higher survival rates for infants born with birth defects, there are an increasing number of children needing physical therapy.[7]
The growing demand for physical therapists also stems from a predicted increase in heart attacks and strokes as the baby-boom generation enters the prime age for such conditions. Elderly patients in need of physical therapy for chronic and debilitating conditions are also a contributing factor. Organizations with the highest demand for physical therapists are acute hospitals, rehabilitation centers, and orthopedic settings.[7]
The BLS predicts job growth for physicians and surgeons as well, with the caveat that demand for physicians' services are "highly sensitive to changes in consumer preferences, healthcare reimbursement, policies, and legislation."[7] Consumers are concerned about higher out-of-pocket healthcare costs, and there is a trend for patients to seek treatment from other providers like physician assistants and nurse practitioners. Despite these concerns, opportunities for physicians are expected to be plentiful, particularly in specialties where there is a shortage or for those willing to practice in rural or low-income areas.[7]
The healthcare industry employs over 14 million people in the U.S., and while the industry is not immune to the recession, that number should continue to grow. In fact, about half of the 30 fastest growing occupations are healthcare related, and the industry is still paying signing bonuses and offering tuition assistance for those who commit to employment.[4] So crawl out from under the covers and put away your pajamas; fortunately, you've got work to do.
- Pepitone, Julianne. "Bloody Monday: Over 71,400 jobs lost."
- "UCLA Anderson Forecast: National Recovery Linked to Global Solutions," March 25, 2009
- Gerencher, Kristen. "Health Care Among Few Bright Spots in US Employment Picture."
- Miller, G.E. "5 Recession Proof Careers for the Next Decade."
- "Beyond.com Reports Healthcare Jobs on the Rise Despite Economy"
- Zieger, Anne. "Healthcare hires while the rest of the country fires."
- Bureau of Labor Statistics. "Occupational Outlook Handbook, 2008-09 Edition."