Share in Health Care Employment and Graduates vs. Unemployment Rate. Source: Quarterly Census of Employment and Wages (QCEW) 2005–2017, Integrated Post-Secondary Education Data System (IPEDS) 2005–2017, and U.S. Bureau of Labor Statistics (BLS) Local Area Unemployment Statistics (LAUS) (2005–2017). Notes: Figure shows coefficients and confidence intervals of the unemployment rate. For employment, unemployment rate is at time t. For number of graduates, unemployment rate is at time t−1. Regressions control for county and year-fixed effects. Regressions are weighted by population counts. Economic condition controls include median household income, poverty rate, and working age population. Recession refers to 2007–2009. Recovery refers to 2010–2017. 95% confidence intervals are obtained from heteroskedasticity robust standard errors clustered at state level. Health Care employment from QCEW refers to county establishments in NAICS 3-digit code 621, 622, and 623. HealthCare graduates from IPEDS refer to county graduates in CIP code 51.