Nurses wages falling

WSJ:

DEMAND INCREASED DURING PANDEMIC:  Nurses willing to pack up and travel to a new hot spot every few months earned as much as $10,000 a week at the height of the pandemic to fill in a shortage of medical staff. The economics of nursing was further thrown out of whack by federal subsidies, which allowed hospitals to pay distorted wages, briefly creating a new class of highly paid nurses. ...

PANDEMIC ENDED AND PRICE FELL:  Brian Tanquilut, an analyst at Jefferies, sees weekly pay for temporary nurses dropping about 15% more to the low $3,000’s a week, helping to improve the bottom line at hospital groups. While a far cry from the peak, it won’t go back to how it used to be either because of what Tanquilut and other industry watchers see as a structural shift in the market.

BUT LONG RUN SUPPLY OF TRAVEL NURSES MAY INCREASE:  Some travel nurses have discovered they like the flexibility and better wages that come along with traveling. Cross Country CEO John Martins said in a recent conference that the work-from-home culture means nurses can more easily bring their remote-working spouses along with them. He estimated the market will grow from 40,000 travel nurses in 2018 to 80,000 in 2023.