WORKFORCE DEVELOPMENT
Getting to 2025: A Senior Living Roadmap
By Sharon Cohen A
rgentum has been advocating for choice, accessibility, independence, and quality of life for seniors since
1990. Since the organization’s founding, a lot has evolved in the senior care landscape thanks to new technologies, innovative models of care, and an increased emphasis on quality improvement and workforce de- velopment, among many other initiatives to cultivate industry excellence. To assess the progress and prepare for the
future, Argentum embarked on a project in 2015 analyzing the landscape of senior living care and forecast a 10-year outlook for the industry. The “Getting to 2025: A Senior Living Roadmap” project (seniorliv-
ing2025.org) was produced in consultation with hundreds of top senior living execu-
tives and other advocates, thought leaders and policy experts, outlining the most sig- nificant opportunities and challenges facing the senior living industry through 2025. Argentum has updated some of the
workforce data released in the original 2025 report, reflecting changes over the last few years.
Senior Living Job Growth Outpaces Overall Economy The senior living industry was an engine
of job growth for the U.S. economy in recent years. Total employment in the senior living industry jumped 77 percent between 2001 and 2016, an increase of nearly 387,000 jobs. During this same 15-year period, total U.S. employment rose by only 9 percent.
Senior living industry job growth exceed-
ed the overall economy in each of the last 15 years. Senior living employment increased at an average annual rate of 3.9 percent between 2001 and 2016, while total U.S. job growth averaged just 0.6 percent a year during this period. The senior living industry also continued
to post steady employment growth during the Great Recession, even when most other industries were shedding jobs. Between 2007 and 2010, the senior living industry added more than 78,000 jobs, an increase of near- ly 12 percent. During the same three-year period, the overall U.S. economy shed more than 7.6 million jobs, which represented a decline of nearly 6 percent.
Senior Living Employment Growth vs. All U.S. Industries*
-6% -4% -2% 0% 2% 4% 6%
4.0% 1.1% -0.5% -0.5% 4.2% 3.6% 3.5%
3.8% 2.9% 1.7% 1.2% 1.6%
3.7% 2.7% 1.9%
3.5% 2.1% 2.0% 1.7%
-4.3% 2007 2008 2009 2010 2011 Senior Living Industry 2012 2013 Total U.S. Private Sector
Source: Argentum analysis of data from the Bureau of Labor Statistics *Senior living data includes continuing care retirement communities (CCRCs) and assisted living communities
26 SENIOR LIVING EXECUTIVE JANUARY/FEBRUARY 2019 2014 2015 2016
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