WORKFORCE DEVELOPMENT
A Quarterly Look at the State of the Senior Living Workforce
A
rgentum’s analysis of the latest Bureau of Labor Statistics data on senior living job and wage
growth shows a robust industry, proud to be a creator of jobs in today’s economy. Below are highlights of
industry performance
during the fourth quarter of 2016. To review third quarter data, see Issue 1 2017 of Senior Living Executive or visit argentum. org/store for more detailed data reports.
Analysis Highlights » The senior living industry continues to fuel the nation’s economy, serving as one of its strongest job creators. Between January 2000 and December 2016, employment in the senior living industry nearly doubled: the 428,000 jobs added during this period represent an increase of 91 percent.
» Senior living communities added a net 1,400 jobs in the fourth quarter of 2016. However, the modest gain of 1.5 percent from the fourth quarter of 2015 to the fourth quarter of 2016 marks the con- tinuation of an overall slowing pattern in senior living job growth. This was the first time since the third quarter of 2014 that senior living employment growth fell below that of the overall private sector’s growth of 1.7 percent.
» Similar to the senior living industry, job growth in related industries slowed in recent quarters. The home health care industry registered 3.2 percent growth from fourth quarter 2015 to the same quarter in 2016 - the strongest gains among the five related industries cited in this report (home health, hospitals,
skilled nursing, retail, and restaurants and accommodations.) However, even home health experienced its slowest em- ployment gain in more than two years.
» The number of hours worked by em- ployees in the senior living industry con- tinues to trend higher, with much of the growth coming from the assisted living sector. Assisted living employees worked nearly three hours per week longer than they did a year earlier.
» Overall wage growth of senior living industry employees was similar to the overall private sector in recent quarters, at an increase of 2.6 percent between the fourth quarters of 2015 and 2016, and 2.7 percent respectively. Among related industries, wage growth was mixed.
Senior Living Continues to Show Steady Job Growth Employment Trends from January 2000 to December 2016
90 100 110 120 130 140 150 160 170 180 190 200
166,800 Jobs Added Since End of the Great Recession (+22.3%)
Senior Living Industry Employment
January 2000 to January 2010: Senior Living Industry Employment: +55% Total U.S. Private Sector Employment: -3%
Total U.S. Private Sector Employment
15.8 Million Jobs Added Since End of the Great Recession (+14.7%)
Jan-00 Jan-01 Jan-02 Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 Jan-14 Jan-15 Jan-16 Source: Argentum analysis of data from the Bureau of Labor Statistics; figures are seasonally adjusted
26 SENIOR LIVING EXECUTIVE / ISSUE 2 2017
Indexed Employment Level: January 2000 = 100
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