On Point with Meghna Chakrabarti The one thing driving U.S. job growth
Mar 5, 2026
Joshua Gottlieb, University of Chicago economist focusing on labor and health economics. Guy Berger, labor-market analyst and Substack author. They unpack why almost all January job gains were in health care. They discuss what counts as healthcare work, long-run trends toward clinical hiring, demographic and immigration effects on job growth, and whether healthcare’s rise crowds out other sectors.
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Why 130,000 Jobs Feels Bigger Than It Used To
- January's 130,000 jobs looked meaningful because population growth slowed, so fewer hires are needed to keep unemployment steady.
- Guy Berger explains the break-even employment growth rate fell after immigration slowed, making smaller monthly job gains more significant.
Health Care Is Pulling Labor From Almost Everywhere
- Health care dominated January's job gains, absorbing workers across many occupations beyond clinicians, including accountants, janitors, and administrators.
- Berger notes health care's share rose from ~10% of employment 25 years ago to ~15% now, a long-running structural shift.
Recruiter Sees Nurses Getting Multiple Offers Weekly
- Recruiter Sari Gillen reports nurses receive 3–5 offers per week; clinics are scaling and offering sign-on and reload bonuses to compete for licensed clinicians.
- Growth is strong in ambulatory surgical centers, urgent care, and nurse practitioner-led practices.