Heart

Was Device Tax Responsible for 29k Job Loss?

By MedTech Intelligence Staff
2 Comments
Heart

The U.S. Department of Commerce reported a 7.2% decline in jobs in the medical device industry.

The medical device tax went into effect in 2013, but its impact was felt even earlier, as device companies prepared for the 2.3% excise tax via widespread layoffs. And although the tax was put on hold for two years [https://www.medtechintelligence.com/news_article/device-tax-on-hold-for-two-years/] as of December 2015, the damage had already been done. According to recent numbers from the U.S. Department of Commerce, between 2012 and 2015, the U.S. medtech industry lost 28,834 jobs—a 7.2% decrease. The majority of job losses were seen in 2014, with the industry losing about 27,000 positions in the industry.

 

Trump’s Impact, Pricing, R&D Funding and Cybersecurity Among Top Trends of New Year

About The Author

MedTech Intelligence

Comments

  1. Raymond Huey

    How many of the reported 28,834 jobs were moved from the US to low cost countries? Is it safe to assume a direct cause and efect between this reported job loss and the excise tax?

  2. Richard Matt

    Really bad article! Bold claims with no evidence for the claims, and no evidence for the cause of the claimed loses.
    Even if everything the author has written is true, no one can tell it from this article. Did Betsy DeVos home-school this author?

Leave a Reply

Your email address will not be published. Required fields are marked *