It’s quite clear that in these tough times, people are not willing to compromise what has proven to be two basic needs – education and health. Probably why many job experts see these are the more robust industries where more people can try immersing themselves in. That and the promise of the federal government to create more jobs in the social service sectors. With other industries failing, career shifts might be a wise idea for many.
Business Week reports:
The public support for health and education carries a broader economic implication. The two sectors, long maligned as inefficient, may turn out to be the best hope for sustaining the economy. Hospitals, universities, and the like employ about 30 million workers, or 22% of the workforce. These employees are numerous enough and well-paid enough, on average, to prop up the economy while housing and finance recover.
The government has already earmarked $634B to revamped the health care system. Better coverage will inevitably be to everyone’s benefit. However, whether better coverage spells less profits for health organizations or not remains to be seen. This then begs the question of whether this will affect health organizations’ capacity to hire or not. Still, optimism can be had on the government’s efforts to prop up these industries.
On a related standpoint, one value that can be gained during these tough times is a better understanding of needs versus wants. Sure, it’s a slap-in-the-face realization but we all do need a lesson in frugality and wise spending.
