Posted March 15, 2023
According to Argentum’s “The Workforce Projections for Senior Care” uses forecasts from the Bureau of Labor Statistics. It found that total employment in the senior care industry is projected to reach 8.3 million by 2040. That’s a more than 42% increase from where it is today. This results in the projection of the need for 5 million home health jobs by the year 2040. The report also points out that that’s a 45.7% increase is just in new jobs. In addition to the new jobs, there will be an estimated 4.4 million open jobs by 2040 due to employees leaving the industry, either by retiring or transferring to a new line of work.
“In total, the home health care industry will need to fill more than 5 million occupational openings between 2021 and 2040,” the report found.
Looking at a more near-term growth projection, employment growth is expected to be at nearly 20% from 2021 to 2030. That would mean the home health industry would see more than 297,000 new jobs and an additional 1.9 million job openings.
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