Industry Outlook

The growth of the health care sector looks imminent, particularly given last Friday’s jobs report data published by the Bureau of Labor Statistics, which showed an increase of 215,000 jobs–9.2 percent higher than original forecasts–with health services being one of the top beneficiaries of the increase. Within the education and health services sector 54,000 new positions were created in June and of that number, about 25,000 came as a result of hiring in the health care sector.

Related: Health Care ETFs Respond Positively to Jobs Report

Furthermore, a recent report published by TMR Research revealed that the health care sector is poised for further growth as it shifts to a more consumer-minded industry. Per TMR Research, “The healthcare industry has started witnessing a massive transformation in the manner in which healthcare services are delivered and paid for. In the recent years, the number of knowledgeable, tech-savvy consumers with advanced mobile computing devices has massively increased. This massive population of consumers is increasingly wanting to be the active respondent or decision-maker when it comes to purchasing or consuming the services of their choice, taking up the responsibility of managing their own health.”

With these latest developments, PSCH could stand to further benefit as the industry, technology, market, and business model progresses, especially with forthcoming innovations in the small-cap health care space.

For more health care ETF trends, click here.