Nursing Economic Issues

Nurses cope with the same economic issues that affect the rest of the work force.

Nurses nationwide earn a median income of $62,450 a year, according to the federal Bureau of Labor Statistics. Still, many nurses work in for-profit hospitals and health care institutions, and they are affected by economic issues and trends.

Staff Shortages

New drugs, treatments and technology are driving up the cost of health care, and hospitals are compensating by cutting nursing staff. Nurse say understaffing hospital units forces them to care for too many patients at once. Nurses believe staff cuts endanger patients.

Education Costs

The cost of an education in nursing, particularly at private colleges, has jumped dramatically. A generation ago, nurses enrolled in three-year programs offered at low-cost hospital nursing schools. Today, many nursing jobs require applicants to have a bachelor's degree in nursing. College tuition and fees range from $1,600 to $60,000 a year, depending on the school.

Job Crunch

The 2008 global economic crash devastated the 401k accounts of nurses reaching the end of their careers. Older nurses, uncertain about their economic future, have postponed retirement and are staying on the job. Fewer positions are opening up, and some nursing school graduates are having trouble finding jobs.

References

• Bureau of Labor Statistics: Registered Nurses
• California Association of Health Plans: The Rising Cost of Health Care
• California Nurses: California Health Care
• Student Loan Consolidation: How Much Does Nuring School Cost?
• The American Prospect: Nurse Interrupted
• All Business: Nursing Shortage Becomes a Surplus - At Least For Now