• Skip to main content
  • Skip to header right navigation
  • Skip to site footer
  • Blog
  • Free Resources
RevistaMed

RevistaMed

  • About
    • Meet Revista
    • Advisory Board
    • Partners
    • Press
    • Rising Leaders Council
    • Sponsorship
    • Contact Us
  • Events
  • Why Subscribe?
    • Featured Products
    • Business Development
    • Underwriting & Due Diligence
    • Asset Management
    • Capital Markets
    • Site Selection & Development
    • Leasing
  • Subscriber Login
Home / Industry News / Physician Office Employment Recovering

Physician Office Employment Recovering

September 15, 2020 by Mike Hargrave Topics: Industry News, Leasing/Property Management, Policy/Legislation

Late March through April saw the onset of the Covid-19 Pandemic which shutdown much of the US economy.  The Physician Office and Medical Office Sectors, which had historically proved ultra-resilient to economic and other shocks was not immune to the pandemic related shutdowns.  Many physician offices were forced to temporarily close and cease elective procedures as local officials attempted to flatten the curve.  As a result, employment within the ambulatory services sector (which comprises employees in MOBs) fell by over 1.3 million during March and April.  Overall, this represents a 17% decline in ambulatory services employment. 

But physician offices were some of the first businesses to reopen after the pandemic forced shutdowns.  We also saw employment within the ambulatory services sector begin to recover in May.  That recovery has continued into August 2020 as a total of 960,000 jobs (or a gain of 15%) have been added.  So, while we are still slightly underneath February employment peaks, it is safe to say the ambulatory services sector is well on its way to full employment recovery.

Source Bureau of Labor Statistics Series CES6562100001
Mike Hargrave
Mike Hargrave

Other Articles by Mike Hargrave:

    • Lenders to the Medical Office Sector Signaling Caution, Lower Volumes
    • Inflationary Pressures Impacting the Revista MOB Industry Fundamentals Report
    • MOB Transaction Volume Sets Quarterly and Annual Volume Records in 1Q22

Previous Post:MOB Sector Remains Resilient; Revista Webcast, Data Indicates Stabilized Occupancies Despite COVID-19
Next Post:Sale of Salt Creek Campus Outside of Chicago is a Good Example of How Strong Investor Demand Remains for MOBs

Sidebar

Topics

  • Construction/Development
  • Industry News
  • Leasing/Property Management
  • Mergers/Acquisitions
  • Policy/Legislation
  • Real Estate Financing/Capital Markets
  • Revista Best Practices
  • Revista News
  • Sponsor Spotlight
  • Transactions
  • Uncategorized

Recent Posts

  • MOB Transaction Volume Cools in 4Q, Cap Rates Creep Up
  • Rehab Hospital Projects Maintain Strong Pipeline
  • MOB Construction Off Recent Highs in 4Q
  • The Fed’s Expectations for 2023
  • Construction Starts have Remained Strong in Select Markets

Archives

Upcoming Events

  • There are no upcoming events.

Other Free Resources

Industry Directory

Search for and/or list your medical real estate services in Revista’s medical real estate directory.

Reports & White Papers

Download free reports & white papers on medical real estate.

Add Lease/Sale Listing

Revista provides free lease/sale listings for healthcare real estate.

Ready to Schedule a Demo?

Get in Touch Now
  • Why Subscribe?
  • Events
  • The MOB Scene
  • Add A Directory Listing
  • Add Lease/Sale Listing
  • Contact Us
  • Sponsorship
  • About
  • Terms of Use
  • Press

SIGN UP FOR MOB SCENE NEWSLETTER

  • Twitter
  • Facebook
  • LinkedIn