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Andrea Santiago

Healthcare Adds 26,000 Jobs

By November 7, 2008

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Although unemployment rates continued to climb in October, the healthcare industry grew by 26,000 jobs for the month, according to the report released today by the Bureau of Labor statistics. Once again, healthcare and mining were the only two industries that did not experience job losses for the month. However, the unemployment rate rose to 6.5%, a 14-year high.

It's uncertain how much longer the healthcare industry can continue to net a monthly increase in jobs, as hospitals struggle to make ends meet, due to a decrease in admissions of insured patients. With over 10 million people now unemployed nationwide, the number of uninsured patients grows as well. The financial burden on hospitals could result in layoffs, according to a recent report in The New York Times, and some hospitals are now facing imminent closure.

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