Trends in Employment Across Related Industries
Average Hourly Earnings: Q2 2017
Senior Living Industry
Continuing Care Retirement Communities Assisted Living Communities
Skilled Nursing Hospitals
Home Health Care Retail Trade
Restaurants and Accommodations Total U.S. Private Sector
$16.66 $17.58 $15.62
$18.57 $31.54 $19.38 $18.18 $14.44
$26.21
Q2 2016 to Q2 2017
3.1% 2.7% 3.9%
3.2% 2.3% -0.5% 1.5% 4.0%
2.5%
Source: Argentum analysis of data from the Bureau of Labor Statistics; figures are seasonally adjusted *BLS data includes both salaried and hourly workers in its average hourly earnings data
2015 to 2016
2.8% 2.2% 3.9%
3.4% 1.6% 4.3% 2.0% 3.9%
2.5% 2014 to 2015
2.6% 2.1% 3.3%
1.8% 3.2% 0.1% 3.1% 3.1%
2.2%
Senior Living Wage Growth Outpaces Private Sector Employees in the senior living industry experienced wage growth outpacing the overall private sector in recent quarters. Average hourly earnings of senior living employees increased at a 3.1 percent rate between the second quarters of 2016 and 2017, while average hourly wages of private sector employees rose 2.5 percent during the same period. Within the senior living industry, as-
sisted living employees had the strongest wage gains in recent quarters. Average hourly earnings of employees at assisted living communities increased 3.9 percent between the second quarters of 2016 and 2017, which marked the seventh consecu- tive quarter with wage growth of at least 3 percent. Average hourly earnings of employees
at continuing care retirement communities (CCRCs) increased at a 2.7 percent rate between the second quarters of 2016 and 2017. While growth was more than a full percentage point lower than wage gains of
employees at assisted living communities, it still was stronger than earnings growth in the overall private sector.
Related Industries See Mixed Wage Growth Wage growth of employees in related in- dustries covered a wide spectrum in recent quarters. Average hourly earnings of em- ployees in the restaurants and accommoda- tions sector jumped 4 percent between the second quarters of 2016 and 2017, which was well above the 2.5 percent wage increase for all private sector employees. It also rep- resented the fourth consecutive quarter with wage growth of at least 4 percent. Skilled nursing employees also saw
healthy wage growth in recent quarters. Average hourly earnings of skilled nursing employees increased 3.2 percent between the second quarters of 2016 and 2017. This represented the fifth consecutive quarter with wage growth of at least 3 percent in the skilled nursing segment. Hospital employees saw their average wage growth accelerate in recent quarters.
Average hourly wages of hospital employees increased at a 2.3 percent rate between the second quarters of 2016 and 2017. This represented the strongest wage growth for hospital employees in five quarters. In contrast, wage growth in the home health care segment trended lower in the second quarter. Average hourly earnings of home health care employees declined 0.5 percent between the second quarters of 2016 and 2017. Average hourly earnings of retail employees rose 1.5 percent between the second quarters of 2016 and 2017.
For a broader look at quarterly workforce data as well as a deep dive into the three biggest cost drivers in senior living operations – labor, food, and utilities, see Senior Living Executive’s sister publication, Argentum Quarterly, at
argentum.org/store.
ISSUE 5 2017 /
ARGENTUM.ORG 23
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