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WORKFORCE DEVELOPMENT


A Quarterly Look at the State of the Senior Living Workforce


A


rgentum’s analysis of the latest gov- ernment data on senior living trends in jobs, hours, and wages shows


a vibrant industry fueling the larger U.S. economy, but is slowing concurrently with the overall private sector. Here are some highlights from the second quarter of 2017 (April 1- June 30) with a focus on senior living wages.


Highlights » The senior living industry has added


174,700 new jobs to the American econ- omy since March 2010 — the beginning of the nation’s most recent economic recovery. This represents an increase of nearly 24 percent compared to the


16 percent increase experienced in the overall private sector.


» Senior living enjoyed two quarters of ac- celerating job growth during the first half of 2017, although those gains are slower than those seen in 2015 and 2016. This mirrors the overall private sector, which is on pace to post the slowest job growth since 2010.


» The rates of job growth in related in- dustries (home health, hospitals, skilled nursing, retail, and restaurants and ac- commodations) also slowed in recent quarters. The home health care industry continued to post the strongest growth out of the group with a 2.9 percent increase


between the second quarters of 2016 and 2017. Although growth was more than a full percentage point stronger than the full private sector, it represented the first time in 11 quarters that home health expanded payrolls below 3 percent.


» While the average workweek of employ- ees in the senior living industry leveled off in recent quarters, it still remained well above year-ago levels. The average workweek of assisted living employees registered the strongest growth in recent quarters with staff working an average of 33.4 hours during the second quarter, which is a 5.1 percent increase from the second quarter of 2016.


Average Hourly Earnings of Senior Living Employees Employment Trends from January 2000 to June 2017


$18.00 $16.75 $16.67 $16.00 $15.03 $14.00 $12.00 $10.00 2015:Q1 2015:Q2 2015:Q3 2015:Q4 2016:Q1 2016:Q2 Continuing Care Retirement Communities 2016:Q3 2016:Q4 Assisted Living Communities Source: Argentum analysis of data from the Bureau of Labor Statistics; figures are not seasonally adjusted 2017:Q1 2017:Q2 $14.45 $14.50 $14.55 $14.76 $15.04 $15.16 $16.90 $16.98 $17.15 $17.12 $17.22 $17.31 $15.32 $17.51 $15.63 $17.58 $15.62


22 SENIOR LIVING EXECUTIVE / ISSUE 5 2017


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