From 2010 to 2020, healthcare production will increase by more than 70 percent, growing from $1.8 trillion to $3.1 trillion. This will require the most dramatic workforce growth of any sector in the U.S. within the next decade.
Of those 5.6 million healthcare job vacancies, 4.6 million will demand post-secondary education. “In healthcare, there are really two labor markets: professional and support,” Anthony P. Carnevale, the study’s lead author, said in the release.
Professional jobs require post-secondary training whereas support jobs demand high school and some college. Mr. Carnevale said there is an “enormous” pay gap between the two, as the average professional worker makes 2.5 times as much as the average support worker.
The report also found that, by 2020, one out of every five dollars Americans earn will be spent on healthcare.
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