The growth in health care jobs remained low in February 2014, with a gain of only 9,500 jobs, the third straight month of meager growth, resulting in the lowest three-month gain (17,700) on record. Hospitals, the largest health sector employer, shed 10,000 jobs over this three-month period.

Meanwhile, health spending growth has been trending upward, moving above 4% in the latter half of 2013 and, then, with the initial influx of newly insured, to 5.4% in January 2014 (relative to January 2013). The health spending share of GDP was 17.4% in December 2013, essentially unchanged from what it was when the recession ended in June 2009.

In January 2014, health care prices rose 1.0% above January 2013, equal to the all-time low for this series, first hit in August 2013. The 12-month moving average of 1.2% is a new all-time low. Low price growth by virtually every component, but particularly for hospitals—which at 1.1% is its lowest reading since September 1998—is keeping the aggregate index contained.

These data come from the monthly Health Sector Economic Indicators^SM briefs released by Altarum Institute’s Center for Sustainable Health Spending (www.altarum.org/HealthIndicators).

“We are expecting a jump in health spending in 2014 because of the projected numbers of previously uninsured individuals who will gain coverage under the Affordable Care Act,” said Charles Roehrig, director of the Center. “For January, the impact is estimated at about one percentage point, pushing the rate of increase from 4.4% to 5.4%. It should be emphasized that this is a preliminary estimate that will become more precise as the year progresses.”

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, Mich., with additional offices in the Washington, D.C., area; Portland, Maine; and San Antonio, Texas.