https://www.commonwealthfund.org/publications/issue-briefs/2...
It was bad even before COVID, it’s even worse now. There are tons of regulations prohibiting the significant increase in creating new doctors and nurses (and air traffic controllers, but that’s a different but remarkably similar story).
Limits on new providers, and tons of corrupt regulation keeping people from opening new medical schools, clinics, and hospitals.
A ton of it is simple supply and demand - and the supply side is capped. Go to a place with a functioning competitive market and the prices (and wages) are a fraction of what they are in the US.
In a source posted by another commenter, their wages are accountable for 5% of the difference.
I also don’t think it’s accurate to say regulations are what’s prohibiting an increase in nurses. They don’t have a government imposed mechanism like residency funding that creates a bottleneck like the one in medical training.
We have a nurse shortage because we have an aging population increasing demand, it’s a tough job, and people are leaving the profession.