Data show senior living industry alone will need to fill more than 3 million jobs over the longer 2021-2040 time frame, with all long-term care openings reaching 20 million.
(ALEXANDRIA, Va.) – Some 20 million job openings will occur in the senior care setting between now and 2040, according to new data in Argentum’s Workforce Projections for Senior Care Sectors report.
Argentum, the voice for America’s professionally managed senior living communities, examines the workforce landscape for not only senior living, but also for skilled nursing, home health care, and services for the elderly and persons with disabilities sectors.
The report said total employment in the senior living industry alone is projected to reach 1.18 million by 2040. The projected growth would represent an increase of 292,500 jobs, or 32.9%, from its 2021 employment level of 888,500.
However, the senior living industry will need to fill more than 1.3 million occupational openings between 2021 and 2030, with that number expanding to 3 million openings between 2021 and 2040.
“This report will serve the senior care industry well in educating lawmakers on the acute and growing crisis we have in filling jobs. The data also provides a realistic look at where our industry’s workforce challenges lie. The next decade certainly will have its own set of challenges recruiting and retaining a senior living workforce, but it also will have profound opportunities to shape how the industry cares for America’s seniors,” said James Balda, president and CEO of Argentum.
“With an aging population, growing demand for services and a wide range of job opportunities to be filled, it is imperative that we, as an industry, attract more than 1.3 million workers to join the senior living industry over the next 10 years and even more by 2040.”
The Workforce Projections for Senior Care Sectors report was developed to identify gaps in the senior living workforce and to support our efforts to develop our people and effectively tell our story to lawmakers and regulators across the country as outlined in the Argentum Strategic Vision.
Download an executive summary of the Workforce Projections for Senior Care Sectors report at: https://info.argentum.org/2023-workforce-projections
Argentum is the leading national association exclusively dedicated to supporting companies operating professionally managed, resident-centered senior living communities and the older adults and families they serve. Since 1990, Argentum has advocated for choice, independence, dignity, and quality of life for all older adults.
Argentum member companies operate senior living communities offering assisted living, independent living, continuing care, and memory care services. Along with its state partners, Argentum’s membership represents approximately 75 percent of the senior living industry—an industry with a national economic impact of nearly a quarter of a trillion dollars and responsible for providing over 1.6 million jobs. These numbers will continue to grow as the U.S. population ages. Argentum’s programs and initiatives are driven by its membership. For more information about joining Argentum, please visit argentum.org/membership. Learn more at argentum.org.
Patrick Connole, Content Director & Editor
ARGENTUM | Expanding Senior Living
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