Job growth in New York City exceeded most expectations for the first six months of 2016. The city added 52,000 jobs during that period of time. However, a significant portion of those jobs added were in home health care support services.
In the past, Wall Street may have been a beacon of hope, providing the majority of job growth through financial firms and organizations, but now the trend has shifted to home care. As many people realize, home care is currently the number one job creator in the country, but it does come with some limitations.
While home care is leading in job growth stats, the wages of these jobs is relatively low. In a city that is one of the most expensive to live in, that poses significant challenges, especially for those caregivers who may have to commute from outside the city’s limits to support elderly and disabled clients.
As reported by Crain’s New York Business in its news blog, Home health care drives job growth, written by Greg David:
“The job gains are increasingly the result of home health care, according to an updated analysis by the city’s Independent Budget Office. A third of the total job increase between the first quarter of 2016 and the just-ended second quarter of 2019 results from the home health care sector. Remember how once Wall Street dictated whether the city’s economy was thriving or plunging? Now it is this much less glamorous—and less lucrative—sector that drives total job gains.”
Having job growth is an important factor in any economy, whether it’s a city, state, or nation. However, when 32 percent of the total jobs created are considered lower wage positions, there are questions about how that could impact the economy long-term.
However, for people without other options, work is work, as the Crain’s article went on to note:
“On the upside, a job is a job. Home health care workers are providing a needed service and keeping many people out of hospitals and nursing homes. Neither education nor skills are a barrier, so it is a way into the workforce for many immigrants and other people with limited schooling.”
The fact that the majority of jobs being created are driven by home health care, that is a great beacon for an industry anticipating increased demand for its services as the baby boomer generation in this country retires and a growing demographic of seniors faces increased health issues and a need for support at home.
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