As unemployment figures creep towards double digit numbers, seniors who are now finding themselves unemployed or under-employed are adding fuel to the next wave of foreclosures. These seniors facing job cuts or reduced hours are putting a further strain on the already tenuous housing market. While the Obama administration’s efforts to stem the tide of foreclosures may be working for some, seniors that have lost their job are at a higher foreclosure risk as their prospects in the job market are more challenging today as more people compete for fewer jobs. Combining a uneasy consumer and dicey job market, the economy continues to pose problems for senior living providers who are looking for seniors to move into their communities and facilities.
"Every time you turn on the news there are more stories about job losses," said Sandra McCormick, Community Director of Waterside Retirement Community.
Yet while working seniors may be facing challenges finding new jobs, the senior living market continues to add employees and job opportunities across the United States and Canada. Some senior living providers are looking for mature adults that have business experience buy may be looking for a new career in the elder care industry.
“Mature workers are a great asset to the senior care industry,” says Britt Nichols co-founder of National Senior Living Providers Network. “They can often transfer skills from other disciplines to find the flexible, enjoyable employment they desire at this stage in their life.”