Home Health Industry: 5 Million Job Openings Projected by 2040
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Every day, 10,000 seniors are added to the population, which is higher than at any other time in history. This means that there is an increased demand for senior living options and the socialization and care that come with them.
The aging Baby Boomer generation will also put a lot of pressure on the country’s ability to provide adequate senior care and support. Unfortunately, the number of workers available to fill these roles is not keeping up with the demand. This means that the industry is facing a worker shortage, especially in the field of senior care.
According to a recent report, the home health industry will eventually need to fill approximately 5 million jobs by 2040.
2021-2030 Home Health Care Workforce Forecast
The U.S. Bureau of Labor and Statistics reports that the job outlook for employment for home health and personal care aides is estimated to increase by 25% from 2021-2030. This is much faster than the average for all occupations.
Over the next ten years, there are expected to be, on average, 711,700 jobs available for home health and personal care aides.
To care for the growing population of elderly persons, home health and personal care assistants will be in great demand.
Both policy changes and the lifestyle preferences of older individuals and people with disabilities have an impact on where care is provided. Long-term care services are increasingly being provided in homes and communities rather than institutional settings like nursing homes. Home health and personal care assistants are predicted to find a lot of new opportunities as a result of this change.
2021-2040 Home Health Care Workforce Forecast
According to Argentum, it is anticipated that 2.2 million people will work in the home healthcare sector overall by 2040. From the current employment level of 1.5 million in 2021, the predicted rise would mean an increase of 692,000 jobs (45.7%) from that level.
This number shows that home health has the biggest predicted growth in the senior care industry - higher than senior living, skilled nursing , and services for the elderly with disabilities
By 2040, the home healthcare sector will add 692,000 new employment, but there will also be 4.4 million job openings as a result of individuals leaving the workforce, changing to another occupation, or retiring.
Between 2021 and 2040, the home healthcare sector will require workers to fill more than 5 million job positions.
Key Takeaways
The demand for home health services is likely to increase as the population ages, and more people require long-term care. As a result, there will be a growing need for skilled home health workers who can provide quality care to patients in their homes.
This growth presents significant opportunities for individuals who are interested in pursuing a career in the healthcare industry.
However, meeting the demand for home health workers will require addressing several challenges, including attracting and retaining a skilled workforce, providing adequate training and support for workers, ensuring that workers are compensated fairly for their work, and regulating opportunistic staffing providers.
Addressing these challenges will be crucial for the continued growth and success of the home health industry.
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