A net 15,000 health care jobs were created in October 2013, significantly below the two-year average of 21,000 jobs per month. For the first 10 months of 2013 we saw an average of 17,000 new health care jobs, compared with 26,000 over the same period in 2012. Due to moderately strong total employment growth of 204,000 in October, the health sector share fell to 10.71% – below the record high of 10.73% recorded in December 2012.

Meanwhile, the growth in health care spending and prices has remained very low. National health expenditures in September 2013 grew 4.0% over September 2012, which is in line with the historically low 3.9% growth observed each year since 2009. The health spending share of gross domestic product (GDP) was 17.4% in September, roughly where it has been since the recession ended in 2009. (“Benchmark” revisions to government GDP data released on July 31 shifted this share down from the 18% that had been previously reported.) Health care prices in September 2013 were 1.0% higher than in September 2012, the second consecutive month of 1% growth and the all-time low in our series extending back to January 1990.

These data come from the monthly Health Sector Economic Indicators^SM (HSEI) briefs released by Altarum Institute’s Center for Sustainable Health Spending (www.altarum.org/HealthIndicators). Due to the federal government closure, much of these data were released a week later than normal.

“Health care job growth through the first 10 months of 2013 is 35% below that experienced during the same period in 2012,” said Charles Roehrig, director of the Center. “Although the jobs data are ‘noisy’ and subject to revisions, with only two months remaining it seems clear that growth has slowed in 2013. We will be watching closely over the next few months to see if expanded coverage under the Affordable Care Act (‘Obamacare’) reverses this slowdown.”

Altarum Institute (www.altarum.org) integrates objective research and client-centered consulting skills to deliver comprehensive, systems-based solutions that improve health and health care. Altarum employs almost 400 individuals and is headquartered in Ann Arbor, Michigan, with additional offices in the Washington, D.C., area; Portland, Maine; and San Antonio, Texas.