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An estimated 10,000 baby boomers turn 65 years old every day in America. They have enjoyed an exciting life, fulfilled their dreams, and now they are heading toward retirement — all at the same time. Baby boomers are the generation born in the post-World War II era. There are an impressive 77 million boomers across the U.S., some who have already retired and some who are very close to doing so in the near future. The only problem? They might not have anyone to care for them in their old age, partly due to financial woes and partly due to a shortage of caregivers.
A Looming Crisis
Droves of boomers are seeking retirement every day, yet there isn’t enough help in the homecare industry to keep up with the demand. As of right now, the ratio of caregivers to those seeking support is seven to one, yet these numbers are expected to decrease dramatically in the following years, according to a study conducted by AARP. By the time the youngest boomers enter their 80s, the years when they will require the most outside support, the caregiver ratio will have declined all the way down to three to one.
Most retirees turn to their family, long viewed as a lifeline for the home health aide industry, for support. With increasing job responsibilities and other life demands, family members aren’t as readily available to help care for their elders. As a result, they turn to private caregivers, available throughout Philadelphia, or, if they qualify, waiver programs like Pennsylvania’s Community Health Choices Program, for help.
Booming Job Market
The rate at which boomers are retiring makes for a thriving job market in the home care industry. Whereas job growth has significantly slowed down for the rest of the economy, the home care industry continues to see a 36 percent increase in employment opportunities. In fact, the Bureau of Labor Statistics predicts that 1.2 million new jobs will be created by 2026 to cope with the exponentially increasing demand.
Those who are looking for a rewarding job in a growing field can help make a difference, starting today! Becoming a caregiver can be a valuable career choice, both financially and emotionally. Caregivers receive personal fulfillment on a day-to-day basis by helping those who need it the most. Moreover, their career offers job security, an adaptable schedule, and quick growth — assets that are hard to find elsewhere.
There’s no better place to start a rewarding home care career than CareGivers America, the most trusted caregiver home care agency in Greater Philadelphia. Contact us today to find out more or apply here.