Health Care Spending as Percentage of GDP Reaches All-Time High
September 12, 2011
The health care spending share of GDP reached an all-time high of 18.2 percent in June 2011. Health spending in July 2011 grew by 5.1 percent relative to July 2010, yet health care price inflation for the same period remained subdued at 2.2 percent. Finally, the September briefs indicate that the health sector continues to create jobs – 30, 000 in August – despite last month’s report of zero growth in jobs for the overall economy. Health now accounts for 10.8 percent of total employment – an all-time high.
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