WORKFORCE DEVELOPMENT
SENIOR LIVING INDUSTRY
WAGES ROSE SHARPLY IN RECENT QUARTERS
Sector Senior Living Industry
Continuing Care Retirement Communities Assisted Living Communities
Total U.S. Private Sector
Growth in the average wages paid to employees in the senior living industry acceler- ated in recent quarters. Average hourly earnings of senior living employees jumped 11.5% between the first quarters of 2021 and 2022. That was the first time since the beginning of this data series in 2006 that senior living employee wages posted a double-digit percent increase during a four-quarter period. The increase in senior living wages was more than double the 5.7% gain in average
hourly earnings of all private sector employees between the first quarters of 2021 and 2022. Employee earnings rose sharply in both segments of the senior living industry in
recent quarters. Average hourly earnings of employees at continuing care retirement communities jumped 12.2% between the first quarters of 2021 and 2022. That rep- resented the first time in 4 years that wage growth of employees at continuing care retirement communities outpaced their counterparts at assisted living communities. Average hourly earnings of employees at assisted living communities increased
11.0% between the first quarters of 2021 and 2022. That represented the 14th con- secutive quarter with wage growth above 4%.
Trends in Average Hourly Earnings Average
Hourly Earnings: 2022: Q1
$21.48 $22.15 $20.81
$31.78
2021: Q1 to 2022: Q1
11.5% 12.2% 11.0%
5.7% Source: Argentum analysis of data from the Bureau of Labor Statistics; figures are not seasonally adjusted. 2019 to 2020
5.2% 4.1%
6.5% 4.9% 2018 to 2019
3.3% 1.7%
5.3% 3.2%
Quarterly Averages of Hourly Earnings of Senior Living Industry Employees $24
$22 $20
$18.69
$16 $18
$14 $12
$10 2019:Q4 2020:Q1 2020:Q2 2020:Q3 2020:Q4 2021:Q1 2021:Q2
Source: Argentum analysis of data from the Bureau of Labor Statistics; figures are not seasonally adjusted. Continuing Care Retirement Communities
Assisted Living Communities 2021:Q3 2021:Q4 2022:Q1 $17.40 $21.53 $19.40 $18.96 $17.72 $18.21 $19.45 $18.45 $19.75 $18.61 $19.74 $18.75 $20.02 $18.95 $20.68 $19.65 $20.35 $22.15 $20.81
24 SENIOR LIVING EXECUTIVE SEPTEMBER/OCTOBER 2022
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