The national unemployment rate has fallen below 9 percent for the first time since 2008 according to the most recent report from the U.S. Bureau of Labor Statistics – so the big question for out-of-work Americans is this: Where are the new jobs?
Look no farther than the Baby Boomers and the aging U.S. population, which is the catalyst behind a thriving national and local senior care industry adding thousands of new American jobs each month. This year alone, the national senior care industry is on pace to hire more than 100,000 new in-home senior caregivers.
“Every 13 seconds another American will turn 65, and that will go on for the next two decades” said Peter Ross, CEO of Senior Helpers, a leading in-home senior care company with nearly 300 locally owned offices from coast to coast. “Senior care is an evolving need and we’re growing like crazy in this area trying to keep pace with demand.”
“We employ more than 6,000 caregivers nationwide, and our locations are hiring two new caregivers per week on average,” Ross added. “Right now, our company alone is on pace to add more than 3,000 new caregivers this year.”
Grey is the new green for senior care industry
* There are currently about 37 million seniors in the U.S., accounting for 12 percent of the population. In two decades, there will be more than 70 million seniors; 1 out of every 5 Americans will be over 65 years old.
* More than 43 million people in the U.S. – 19 percent of adults – currently provide care for an elderly family member or friend.
* Americans are having fewer children than in previous decades (3.7 kids per family in 1960 – less than 2.1 kids per family today). *source World Bank and C.I.A.
* Fewer kids combined with more aging seniors is creating a growing demand for private senior care
“These changing demographics are creating a big shortfall in our collective ability to care for our aging loved ones – which translates into a huge, immediate demand for qualified private care,” Ross explains. “Demand for in-home caregivers is already at an all-time high. It’s a booming industry, and there is no sign of a slowdown in sight.”
By Jon Weiner and Sue Yannello