National health spending in November 2015 was up 5.0% compared to November 2014, continuing the slowdown from a peak of nearly 7% growth in February 2015. The health spending share of gross domestic product (GDP) was fractionally below 18%—a rate that on two occasions had already been breached before data revisions that affected both variables.

Health care prices in November 2015 were 1.1% higher than in November 2014, slightly below the 1.2% rate measured in October. Year-over-year hospital prices rose by 1.4%, but those for privately insured increased at a 2.3% rate, a development that bears careful monitoring.

The health sector added 39,400 jobs in December, for a total annual gain of 475,000 new jobs, 50% more than in 2014. More than one-third of new health jobs in 2015 were in hospitals, although the hospital hiring boom may be moderating as hospitals have added fewer jobs each month in the second half of the year.

These data come from the monthly Health Sector Economic IndicatorsSM briefs released by Altarum Institute’s Center for Sustainable Health Spending (http://www.altarum.org/HealthIndicators).

“While ultimately less important than issues of health care value and over and underuse, it is interesting to watch the share of our nation’s economy going toward health, and its recent gravitation around the 18% level,” said Charles Roehrig, founding director of the center. “As each dollar directed toward health care takes a dollar from other worthy items, it is worth noting that, after multiple revisions, we have not surpassed the 18% level. Yet Altarum modeling shows that we are far from achieving sustainable health spending over the medium term, an ongoing analysis we will update through 2016.”

Please see Altarum’s Health Sector Trend Report, containing detailed analysis of the recently released Quarterly Services Survey data.

Altarum Institute (www.altarum.org) integrates objective research and client-centered consulting skills to deliver comprehensive, systems-based solutions that improve health and health care. Altarum employs almost 400 individuals and is headquartered in Ann Arbor, Michigan, with additional offices in the Washington, DC, area; Portland, Maine; and San Antonio, Texas.