Senior Housing News April 24, 2024
Average employee wages in senior living have risen at a greater rate than those in the private sector, but staffing remains an ongoing pain point for the wider industry.
That’s according to a new Argentum report analyzing wage growth over the span of five years from 2019 to 2023. The report, released this week, is based on Bureau of Labor Statistics data on employment, number of hours worked and wages.
Average hourly wages in senior living increased 30.9% between 2019 and 2023. By comparison, companies in the broader private sector raised wages 24.4% in that time. Two years in particular stood out as being significantly higher, the report said, with an 8.9% increase compared to 5.4% in 2022 and 6%...
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