2016 health spending growth set to be 5.6% — 7 takeaways

U.S. health spending increased at an annual rate of 5.5 percent in October 2016, according to Altarum Institute's Center for Sustainable Health Spending's Health Sector Economic Indicators briefs.

Here are seven takeaways:

1. The hospital sector (6.6 percent growth) boosted the month's health spending.

2. The prescription drugs component dropped to just 3.5 percent growth, however.

3. Down from the 5.8 percent rate in 2015, 2016 is set to see a 5.6 percent health spending growth rate.

4. October 2016 healthcare prices rose 2.2 percent compared to the price level in October 2015.

5. October 2016 saw a 7 percent boost in prescription drug prices, compared to October 2015.

6. November 2016 saw an additional 28,400 jobs in the healthcare space, reflecting less than the 12-month average of 34,000 jobs.

7. The report found health jobs grew 2.7 percent year over year.

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