WORKFORCE DEVELOPMENT


A Quarterly Look at the State of the Senior Living Workforce


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rgentum’s analysis of the latest Bureau of Labor Statistics data on senior living job and wage


growth highlights a healthy industry, serving as an engine of job growth for the nation’s economy. Below are high- lights from the first quarter of 2017.


Highlights » The senior living industry continues to fuel the nation’s economy, serving as one of its strongest job creators. From March 2010 through March 2017, the senior living industry added nearly 169,000 jobs, an increase of more than 23 percent.


» Job growth in the senior living industry accelerated in the fi rst quarter after post-


ing a modest gain in the fourth quarter. Senior living communities added a net , jobs in the fi rst quarter on a sea- sonally adjusted basis, up from a gain of 1,100 jobs in the fourth quarter.


» Among the related industries of home health, hospitals, skilled nursing, retail, and restaurants and accommodations, job growth was mixed. The home health care industry continued to be the strongest job creator among the related industries.


» Wage growth of employees in the senior living industry tracked closely with counterparts in the overall private sector. Average hourly earnings of se- nior living employees increased at a 2.8 percent rate between the fi rst quarters of 2016 and 2017.


Senior Living Continues to be Top Job Creator The senior living industry has been one of the most reliable sectors for job creation during the challenging economic environ- ment in recent years. From the beginning of the employment recovery in March 2010 through March 2017, the senior living in- dustry added 168,900 jobs. This represents an increase of more than 23 percent. In comparison, the overall private sector add- ed a net . million jobs during the fi rst seven years of the current expansion, which represented an increase of approximately 15 percent. Within the related industries of home


health, hospitals, skilled nursing, retail, and restaurants and accommodations,


Senior Living Continues to Show Steady Job Growth Employment Trends from January 2000 to March 2017


90 100 110 120 130 140 150 160 170 180 190 200


168,900 Jobs Added Since End of the Great Recession (+23.1%)


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


16.3 Million Jobs Added Since End of the Great Recession (+15.2%)


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 Jan-17 Source: Argentum analysis of data from the Bureau of Labor Statistics; figures are seasonally adjusted


24 SENI LIVIN EECTIVE / ISSUE 3 2017


Indexed Employment Level: January 2000 = 100


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