Overview
COVID-19 initially had a modest impact on Health Care consumption and employment, but as disease spread, social distancing lockdowns shut the US Medical Economy down. Original reports from the April 2020 ADP Employment Report reflected a more modest decline in Health Care Employment of -2.68% YoY. When that same report was revised, the number had tripled to a decline of -8.22% YoY for April 2020.
BLS will release May employment figures this morning, and we will be looking through the Health Care series across Hospitals, Dentists, Physician Offices, and Medical Labs, among others. Dentist Offices were down 50% last month. We saw more modest declines elsewhere. We're interested to see if the stability and recovery most are expecting is showing up in the data.
All data available upon request. Please reach out to with any inquiries.