The senior living industry has been among the top industries for post-recession job creation, and employment in the industry continues to increase, although the overall rate of growth is slowing, according to a new report from Argentum.
The industry added a net of 5,100 jobs in the third quarter of 2016 on a seasonally adjusted basis, up from a gain of 3,200 jobs in the second quarter, the association said in “State of the Senior Living Workforce.” Jobs were added at a rate of 1.9% between the third quarters of 2015 and 2016, down from the 3.5% seen between 2014 and 2015 and the 2.7% seen between 2013 and 2014.
Within senior living, assisted living communities added jobs at a 2.5% rate between the third quarters of 2015 and 2016, according to the report, whereas employment at continuing care retirement / life plan communities increased by 1.3% during the same time. The home healthcare industry continues to register the strongest job growth among the related industries, Argentum said, whereas skilled nursing payrolls remain essentially flat.
Other report highlights:
- Senior living employees worked an average of 33.2 hours per week during the third quarter, a 3.1% increase from the same quarter of 2015. The average workweek of private-sector employees has declined in recent quarters.
- Average hourly earnings of senior living employees increased by 2.7% between the third quarters of 2015 and 2016, whereas the average hourly earnings for all private-sector employees increased 2.4%.
- Employees at assisted living communities have seen the strongest wage growth in recent quarters. Their average hourly earnings increased 4.1% between the third quarters of 2015 and 2016, nearly two percentage points more than wage growth for all private-sector employees. Average hourly earnings of CCRC employees increased by 1.9% between the third quarters of 2015 and 2016.
The report was sponsored by OnShift. It is available at no charge to Argentum members and is $29 for others.