There is no doubt that COVID came in and hit the healthcare industry like a gosh dang Miley Cyrus wrecking ball. But despite facing a recession and layoffs, healthcare remains Michigan’s largest source of employment.
Here’s Five Fast Facts …… :
- 😷 Oh, 2020 - Before the pandemic hit the fan, about 20% of all Michiganians were employed in healthcare. That amounted to about 570,000 jobs.
- ❌ There Were Quitters - During the pandemic, there was a mass exodus from healthcare, with thousands of workers quitting their jobs for work in other industries.
- 💸 Money Woes - Most Michigan hospitals took a direct hit to their bottom lines during the first year of the pandemic. Henry Ford Health System alone reports losing $234 million during the first quarter of 2020.
- 💰 Nurses Got Paid - While the hospitals took big hits, one group of employees found thriving employment elsewhere – nurses. With their services in high demand, many nurses could triple their hourly rate by becoming travel nurses. And good for them; they deserve it after taking care of the world.
- 👴 The Future Looks Old - Nothing can keep the healthcare industry down for long. Most hospitals expect to keep growing over the next few years. After all, all those boomers out there are getting older and need more care.
🔥Bottom line: The past few years have been tough on all industries, and many experts thought the healthcare system would collapse. But nah. It’s growing instead.
Do you work in healthcare? What’s your biggest gripe?
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