Expanded Healthcare Demand Persists in the US Q4 2024: A Look at the Labor Market Landscape

In the ever-evolving landscape of the US labor market, one sector that appears to be holding up better than most is healthcare. According to recent data from Indeed, the leading job-search platform, job postings for Therapy roles and Physicians & Surgeons have shown resilience, with growth in these areas even as other sectors struggle.

As of January 17, 2025, Therapy job postings saw a 5.3% year-over-year growth, a promising sign in the face of broader market challenges. Similarly, job postings for Physicians & Surgeons, Dental, and Personal Care & Home Health waned less than 5% year-over-year, indicating a steady demand for these professions.

However, a closer look at the healthcare sector reveals a more complex picture. The US Indeed Job Posting Index (JPI) was between 10 to 13% above the pre-pandemic baseline as of the end of 2024, suggesting a robust overall demand. Yet, as of January 17, 2025, job postings in all healthcare sectors, except for Therapy, were down compared to the same date last year.

This trend is reflected in the wage growth figures. While Dental wage growth is leading the Healthcare vertical with a year-over-year gain of 4.3% through December 2024, other sectors such as Childcare and Nursing are lagging behind. Childcare wage growth has slowed down, falling 0.9 percentage points in the last six months, and Nursing wage growth is only up 2.5% in the year to December 2024.

Pharmacy job postings present an interesting case. Despite a 25.7% drop in the year to January 17, 2025, the sector's JPI remains 19.2% above its pre-pandemic baseline.

Employer demand for workers continued to weaken, but the JPI remained 10.8% above the pre-pandemic baseline, indicating a persisting demand for labour in certain sectors. It's important to note that the organization analysing job postings in the healthcare sector in 2025 is not identified in the provided search results, and no information about the location of the organization's headquarters is available.

In conclusion, while the healthcare labor market shows signs of resilience, with Therapy and Physician roles holding up well, other sectors such as Childcare and Nursing are experiencing slower wage growth. Understanding these trends can help businesses and policymakers make informed decisions to support the recovery of the US labor market.