Inquiring minds want to know!
May of 2009, unemployment was at 9.4% according to the Bureau of Labor Statistics. In May of 2019 the rate was down almost 6% to a total 3.6%. Within a decade the outlook on employment has changed dramatically.
Looking deeper into the Health Information Management and Clinical Documentation Improvement markets our team at TrustHCS is wondering if we are reaching the same historic low rates for job seekers. In 2018, TrustHCS brought on over 300 professionals in these sectors. The need for credentialed professionals across coding and CDI continues to remain steady with our recruiting team interacting with job candidates daily.
To get a better understanding of how the historic unemployment numbers are playing out in our space we want your feedback. Take 30 seconds to anonymously answer this one simple question by clicking here and we’ll share the results of in our next recruiting blog post!
What is your employment status?
- Employed and NOT job seeking
- Employed and job seeking
- Unemployed and job seeking
- Unemployed and NOT job seeking
Interesting Points on our Industry
Regardless of the unemployment rate question, there are some interesting statistics commonly used when discussing our industry. The Bureau of Labor Statistics also tracks data on occupations. For the “Medical Records and Health Information Technicians” occupation, the bureau reports an expected positive change of 27,800 positions between 2016 and 2026. That’s 13% change with the average growth rate for all occupations sitting at 7%!
In addition to these growth rates, the bureau also reported California, Texas, Florida, New York, and Ohio as the states with the highest employment levels for the occupation. New Jersey, the District of Columbia (D.C.), California, Connecticut, and Hawaii round out the top states or pay in the occupation.
What’s the Short-Term Outlook?
Short-term occupational projections for 2018 to 2020 provided by Projections Central show Arizona, Nevada, Utah, Idaho, and Colorado at the top for state projected growth in jobs for the “Medical Records and Health Information Technicians” occupation. The average growth rate from Projections Central is 2.7%. These top 5 states each ran between 4.4% and 6.8% growth for the 2018 to 2020 time-frame.
Our slice of the healthcare industry continues to provide a fruitful career path. Look to the TrustHCS blog in the coming month to understand how our peers’ employment status matches up to national statistics.