Here’s a thought. Could bad health outcomes, like the high prevalence of chronic illness or obesity, actually prop-up a nation’s gross domestic product by maintaining high levels of healthcare-related expenditure, and jobs? The US may offer an answer.
While most were gawking over the latest bumper non-farm payrolls data, FT Alphaville did some digging beneath the headlines.
Over one-third of private sector jobs added in May came from healthcare and social assistance. Of the 3.3mn jobs added by US private employers since the beginning of 2023, 40 per cent has been driven by the health sector.
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