Growth in health care spending, costs and employment declined in October

U.S. health care industry spending, price inflation and employment growth are trending downward, according to the December Health Sector Economic Indicators briefs released last week by the Altarum Institute’s Center for Sustainable Health Spending.

According to the briefs, total health care spending growth in October fell to 5%, from 5.2% in September because of reductions in hospital, physician services and nursing home spending. Health care spending as a share of the total economy, which is currently at 18.1%, shows signs of dropping to around 18% from its all-time high of 18.2% in June 2011.

In addition, the briefs found that health care price inflation in October fell to a 13-year low of 1.9% and health care industry jobs grew by 17,000 in November