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<p>美國勞動力市場長期以來一直是一個複雜的機器，但在當前的經濟環境中，有一個領域的表現比其他所有領域更為可靠。</p>
<p>儘管科技和製造業在人工智能替代和關税帶來的風險中艱難前行，醫療保健行業卻成為了一種獨特且不可動搖的力量——某種程度上像是生物鐘，決定着國家繁榮的節奏。</p>
<p>來自勞工統計局的最新數據顯示，3 月份非農就業人數增加了 178,000 個，其中醫療保健佔據了這一增長的顯著份額。</p>
<p>該行業新增了 76,000 個職位，主要得益於門診醫療服務的增長，增加了 54,000 個職位。</p>
<p>這些數據強化了近期觀察到的模式。</p>
<p>1 月份，新增就業人數為 130,000 個，其中醫療保健貢獻了 82,000 個職位。</p>
<p>2 月份，整體就業人數異常下降 92,000 個，主要是由於凱撒永久公司（Kaiser Permanente）的罷工，暫時使超過 30,000 名工人停工，導致醫療保健就業人數下降 28,000 個。</p>
<p>私營部門的數據也講述了類似的故事。</p>
<p>ADP 的 3 月份報告顯示，僱主新增了 62,000 個職位，其中教育和健康服務佔 58,000 個。</p>
<h2>嬰兒潮一代推動醫療保健需求</h2>
<p>醫療保健作為勞動力市場穩定力量的角色並不新鮮，自 1980 年代以來，該行業提供了一些最穩定的就業增長。</p>
<p>根據官方數據，自 2022 年 1 月以來，每個月都在增加就業。</p>
<p>“醫療保健仍然是美國就業增長的引擎，” Glassdoor 首席經濟學家 Daniel Zhao 在早期分析中表示。</p>
<p>最大的驅動因素是美國人口的老齡化。</p>
<p>隨着嬰兒潮一代進入 70 歲和 80 歲，醫療服務的需求——從老年護理到慢性病管理——呈指數級增長。</p>
<p>每天有超過 10,000 名美國人年滿 65 歲，擴大了符合醫療保險資格的人羣，並增加了對醫療服務的需求。</p>
<p>經濟學家指出，這一羣體相對富裕，進一步放大了對醫療服務的需求。</p>
<p>“醫療保健的需求與收入相關，” Indeed Hiring Lab 的 Laura Ullrich 在 12 月的 CNBC 報道中表示。</p>
<h2>慢性疾病重塑需求</h2>
<p>第二個結構性驅動因素是慢性疾病（如心臟病、癌症和糖尿病）的日益普遍，FX Street 的分析報告指出。</p>
<p>這些疾病需要持續的護理，而不是一次性治療，根本上重塑了醫療保健的需求性質。</p>
<p>根據醫療保險和醫療補助服務中心的數據，慢性和心理健康狀況約佔美國總醫療支出的 90%。</p>
<p>2024 年，國家醫療支出達到約 [MONEY value=&#34;5300000000000&#34; currency=&#34;usd&#34; notation=&#34;long&#34; replace=&#34;false&#34;]，約佔 GDP 的 18%。</p>
<p>這種向持續護理的轉變為整個系統中的工人創造了持久的需求，從醫生和護士到技術人員和居家護理人員。</p>
<p>護理越來越多地在傳統醫院環境之外提供，門診服務、社會援助和社區支持的增長顯著。</p>
<p>3 月份，社會援助單獨新增了 14,000 個職位。</p>
<h2>儘管基本面強勁，風險依然出現</h2>
<p>儘管這些強勁的順風，挑戰開始浮現。</p>
<p>不斷上升的成本正在給醫院財務帶來壓力，提供者面臨着更多無保險患者、壞賬和慈善護理的困擾。</p>
<p>政策變化可能進一步複雜化前景。</p>
<p>唐納德·特朗普簽署的《一項美麗的法案》預計將在未來十年內減少約 [MONEY value=&#34;1000000000000&#34; currency=&#34;usd&#34; notation=&#34;long&#34; replace=&#34;false&#34;] 的聯邦醫療補助支出，引發對資金缺口和潛在失業的擔憂。</p>
<p>行業專家警告稱，財務壓力可能導致整合和裁員。</p>
<p>根據 Kaufman Hall（Vizient 的一個單位）最近關於醫療系統財務的報告，醫院已經面臨廣泛的成本壓力，費用在多個方面上升。</p>
<p>報告指出，壞賬、無保險患者和慈善護理的成本上升。</p>
<p>“一些數據顯示醫院可能會長期處於 ‘新常態’，醫療保健組織需要非常有策略地多樣化服務和管理費用，以建立財務穩定性，” Kaufman Hall 的 Erik Swanson 表示。</p>
<p>儘管更廣泛的勞動力市場面臨地緣政治緊張和增長放緩的不確定性，醫療保健的結構性驅動因素仍然為就業提供了基礎。</p>
<p>政策制定者和僱主面臨的問題是，隨着財務和政策壓力的增加，這種勢頭是否能夠持續。</p>
<p>本文《醫療保健如何成為美國最可靠的薪資來源》最初發表於 Invezz。</p>

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易明醫藥

<p>根據美國勞工統計局的數據，醫療保健行業已成為美國可靠的就業增長來源，僅在 3 月份就新增了 76,000 個職位。這一增長受到老齡化人口和慢性疾病增加的推動，自 2022 年 1 月以來，醫療保健行業持續增加就業崗位。然而，成本上升和潛在政策變化等挑戰可能威脅到這種穩定性。專家警告稱，儘管對醫療服務的需求持續存在，財務壓力可能導致行業內的裁員和整合</p>

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<p>The American labour market has long been a complex machine of shifting gears, but in the current economic landscape, one cylinder is firing with more reliability than all others combined.</p>
<div class="lb-trans"><p>美國勞動力市場長期以來一直是一個複雜的機器，但在當前的經濟環境中，有一個領域的表現比其他所有領域更為可靠。</p>
</div><p>While technology and manufacturing navigate the choppy waters of replacement by AI and perils brought on by tariffs, the healthcare sector has emerged as a singular, indomitable force—a biological clock of sorts that dictates the rhythm of national prosperity.</p>
<div class="lb-trans"><p>儘管科技和製造業在人工智能替代和關税帶來的風險中艱難前行，醫療保健行業卻成為了一種獨特且不可動搖的力量——某種程度上像是生物鐘，決定着國家繁榮的節奏。</p>
</div><p>The latest data from the Bureau of Labor Statistics showed nonfarm payrolls rose by 178,000 in March, with healthcare accounting for a significant share of that growth.</p>
<div class="lb-trans"><p>來自勞工統計局的最新數據顯示，3 月份非農就業人數增加了 178,000 個，其中醫療保健佔據了這一增長的顯著份額。</p>
</div><p>The sector added 76,000 jobs, driven largely by gains in ambulatory healthcare services, which rose by 54,000.</p>
<div class="lb-trans"><p>該行業新增了 76,000 個職位，主要得益於門診醫療服務的增長，增加了 54,000 個職位。</p>
</div><p>The figures reinforce a pattern seen in recent months.</p>
<div class="lb-trans"><p>這些數據強化了近期觀察到的模式。</p>
</div><p>In January, payrolls increased by 130,000, with healthcare contributing 82,000 jobs.</p>
<div class="lb-trans"><p>1 月份，新增就業人數為 130,000 個，其中醫療保健貢獻了 82,000 個職位。</p>
</div><p>In February, an unusual decline of 92,000 in overall payrolls was led largely by a strike at Kaiser Permanente that temporarily sidelined more than 30,000 workers, leading to a 28,000 drop in healthcare employment.</p>
<div class="lb-trans"><p>2 月份，整體就業人數異常下降 92,000 個，主要是由於凱撒永久公司（Kaiser Permanente）的罷工，暫時使超過 30,000 名工人停工，導致醫療保健就業人數下降 28,000 個。</p>
</div><p>Private-sector data tells a similar story.</p>
<div class="lb-trans"><p>私營部門的數據也講述了類似的故事。</p>
</div><p>The March report from ADP showed employers added 62,000 jobs, with education and health services accounting for 58,000 of those gains.</p>
<div class="lb-trans"><p>ADP 的 3 月份報告顯示，僱主新增了 62,000 個職位，其中教育和健康服務佔 58,000 個。</p>
</div><h2>Baby boomers driving demand for healthcare</h2>
<div class="lb-trans"><h2>嬰兒潮一代推動醫療保健需求</h2>
</div><p>Healthcare’s role as a stabilising force in the labour market is not new, and the sector has provided some of the most consistent job growth since the 1980s.</p>
<div class="lb-trans"><p>醫療保健作為勞動力市場穩定力量的角色並不新鮮，自 1980 年代以來，該行業提供了一些最穩定的就業增長。</p>
</div><p>It has added jobs every month since January 2022, according to official data.</p>
<div class="lb-trans"><p>根據官方數據，自 2022 年 1 月以來，每個月都在增加就業。</p>
</div><p>“Health care remains the engine of jobs growth for the US,” Daniel Zhao, chief economist at Glassdoor, said in an earlier analysis.</p>
<div class="lb-trans"><p>“醫療保健仍然是美國就業增長的引擎，” Glassdoor 首席經濟學家 Daniel Zhao 在早期分析中表示。</p>
</div><p>The single biggest driver is the aging US population.</p>
<div class="lb-trans"><p>最大的驅動因素是美國人口的老齡化。</p>
</div><p>As the Baby Boomer generation enters their 70s and 80s, the demand for medical services—from geriatric care to chronic disease management—increases exponentially.</p>
<div class="lb-trans"><p>隨着嬰兒潮一代進入 70 歲和 80 歲，醫療服務的需求——從老年護理到慢性病管理——呈指數級增長。</p>
</div><p>More than 10,000 Americans turn 65 every day, expanding the pool of people eligible for Medicare and increasing demand for healthcare services.</p>
<div class="lb-trans"><p>每天有超過 10,000 名美國人年滿 65 歲，擴大了符合醫療保險資格的人羣，並增加了對醫療服務的需求。</p>
</div><p>Economists note that this cohort is also relatively affluent, amplifying demand for healthcare services.</p>
<div class="lb-trans"><p>經濟學家指出，這一羣體相對富裕，進一步放大了對醫療服務的需求。</p>
</div><p>“Demand for health care is correlated with income,” said Laura Ullrich of Indeed Hiring Lab in a CNBC report in December.</p>
<div class="lb-trans"><p>“醫療保健的需求與收入相關，” Indeed Hiring Lab 的 Laura Ullrich 在 12 月的 CNBC 報道中表示。</p>
</div><h2>Chronic diseases reshape demand</h2>
<div class="lb-trans"><h2>慢性疾病重塑需求</h2>
</div><p>A second structural driver is the rising prevalence of chronic illnesses such as heart disease, cancer, and diabetes, an analysis by FX Street reported.</p>
<div class="lb-trans"><p>第二個結構性驅動因素是慢性疾病（如心臟病、癌症和糖尿病）的日益普遍，FX Street 的分析報告指出。</p>
</div><p>These conditions require ongoing care rather than one-time treatment, fundamentally reshaping the nature of healthcare demand.</p>
<div class="lb-trans"><p>這些疾病需要持續的護理，而不是一次性治療，根本上重塑了醫療保健的需求性質。</p>
</div><p>According to the Centers for Medicare &amp; Medicaid Services, chronic and mental health conditions account for roughly 90% of total healthcare spending in the United States.</p>
<div class="lb-trans"><p>根據醫療保險和醫療補助服務中心的數據，慢性和心理健康狀況約佔美國總醫療支出的 90%。</p>
</div><p>National health expenditure reached about [MONEY value=&#34;5300000000000&#34; currency=&#34;usd&#34; notation=&#34;long&#34; replace=&#34;false&#34;] in 2024, or nearly 18% of GDP.</p>
<div class="lb-trans"><p>2024 年，國家醫療支出達到約 [MONEY value=&#34;5300000000000&#34; currency=&#34;usd&#34; notation=&#34;long&#34; replace=&#34;false&#34;]，約佔 GDP 的 18%。</p>
</div><p>This shift toward continuous care has created a durable demand for workers across the system, from physicians and nurses to technicians and home-based caregivers.</p>
<div class="lb-trans"><p>這種向持續護理的轉變為整個系統中的工人創造了持久的需求，從醫生和護士到技術人員和居家護理人員。</p>
</div><p>Increasingly, care is being delivered outside traditional hospital settings, with growth in outpatient services, social assistance, and community-based support.</p>
<div class="lb-trans"><p>護理越來越多地在傳統醫院環境之外提供，門診服務、社會援助和社區支持的增長顯著。</p>
</div><p>In March, social assistance alone added 14,000 jobs.</p>
<div class="lb-trans"><p>3 月份，社會援助單獨新增了 14,000 個職位。</p>
</div><h2>Why risks emerge despite strong fundamentals</h2>
<div class="lb-trans"><h2>儘管基本面強勁，風險依然出現</h2>
</div><p>Despite these strong tailwinds, challenges are beginning to surface.</p>
<div class="lb-trans"><p>儘管這些強勁的順風，挑戰開始浮現。</p>
</div><p>Rising costs are straining hospital finances, with providers grappling with higher levels of uninsured patients, bad debt, and charity care.</p>
<div class="lb-trans"><p>不斷上升的成本正在給醫院財務帶來壓力，提供者面臨着更多無保險患者、壞賬和慈善護理的困擾。</p>
</div><p>Policy changes could further complicate the outlook.</p>
<div class="lb-trans"><p>政策變化可能進一步複雜化前景。</p>
</div><p>The “One Big Beautiful Bill Act” signed by Donald Trump is expected to reduce federal Medicaid spending by around [MONEY value=&#34;1000000000000&#34; currency=&#34;usd&#34; notation=&#34;long&#34; replace=&#34;false&#34;] over the next decade, raising concerns about funding gaps and potential job losses.</p>
<div class="lb-trans"><p>唐納德·特朗普簽署的《一項美麗的法案》預計將在未來十年內減少約 [MONEY value=&#34;1000000000000&#34; currency=&#34;usd&#34; notation=&#34;long&#34; replace=&#34;false&#34;] 的聯邦醫療補助支出，引發對資金缺口和潛在失業的擔憂。</p>
</div><p>Industry experts warn that financial pressures could lead to consolidation and workforce reductions.</p>
<div class="lb-trans"><p>行業專家警告稱，財務壓力可能導致整合和裁員。</p>
</div><p>Hospitals are already facing broad-based cost pressures, with expenses rising across multiple fronts, according to a recent report on health system finances by Kaufman Hall, a unit of Vizient.</p>
<div class="lb-trans"><p>根據 Kaufman Hall（Vizient 的一個單位）最近關於醫療系統財務的報告，醫院已經面臨廣泛的成本壓力，費用在多個方面上升。</p>
</div><p>The report pointed to higher costs linked to bad debt, uninsured patients, and increased levels of charity care.</p>
<div class="lb-trans"><p>報告指出，壞賬、無保險患者和慈善護理的成本上升。</p>
</div><p>“With some data suggesting a lingering ‘new normal’ for hospitals, healthcare organizations need to be very strategic about diversifying services and managing expenses to build financial stability,” said Erik Swanson of Kaufman Hall.</p>
<div class="lb-trans"><p>“一些數據顯示醫院可能會長期處於 ‘新常態’，醫療保健組織需要非常有策略地多樣化服務和管理費用，以建立財務穩定性，” Kaufman Hall 的 Erik Swanson 表示。</p>
</div><p>While the broader labour market faces uncertainty from geopolitical tensions and slowing growth, healthcare’s structural drivers continue to provide a foundation for employment.</p>
<div class="lb-trans"><p>儘管更廣泛的勞動力市場面臨地緣政治緊張和增長放緩的不確定性，醫療保健的結構性驅動因素仍然為就業提供了基礎。</p>
</div><p>The question for policymakers and employers alike is whether that momentum can be sustained as financial and policy pressures mount.</p>
<div class="lb-trans"><p>政策制定者和僱主面臨的問題是，隨着財務和政策壓力的增加，這種勢頭是否能夠持續。</p>
</div><p>The post How healthcare became the most reliable source of paychecks in the US appeared first on Invezz</p>
<div class="lb-trans"><p>本文《醫療保健如何成為美國最可靠的薪資來源》最初發表於 Invezz。</p>
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醫療保健行業如何成為美國最穩定的薪資來源