Nursing Outlook for Registered Nurses
Background
By 2014, the US will need 3.1 million registered nurses (RNs), up from 2.1 million in 2004. These numbers reflect more than just 700,000 new registered nurses needed, but also a 500,000 additional nurses to replace older RN nurses who retire. With an RN vacancy rate of 16.4% in 2004 - the highest in nearly 20 years - this gap creates a tremendous amount of registered nurses with employment opportunities for talented nurses.
Compounding the challenge for health care providers is that the average age of graduates from nursing programs is declining. With younger registered nurses entering the work force, experience is at a premium.
Tremendous Opportunities for Traveling Nurses
Traveling nurses now fill a significant portion of these positions. Hospitals and health care providers use travel nurses while they fill full-time nursing positions or to handle seasonal demands. In fact, hospitals now direct up to:
- 8% of nursing staffing budgets for outsourced services
- 25% for traveling nurses
- 5% for per diem nurses
Clearly, this high demand creates great employment opportunities for traveling nurses, with revenue growth predicted to run well ahead of inflation through 2010 (SIA). These economic realities help traveling nurses develop satisfying careers moving from one engagement to another and the opportunity to evaluate multiple potential nursing opportunities before seeking a permanent arrangement.