In November 2022, Beth Pinsker’s mother, Ann, got sick after spinal surgery. Ann’s recovery was complicated, leading to her death in July the following year. Pinsker, a financial planner, noticed rising senior care costs and decreasing services. US Census data shows a growing senior population and increased demand for care, with prices rising faster than inflation.

The senior caregiving sector faces a critical labor shortage due to low wages and poor job quality. The demand for home care workers is projected to exceed supply by 2032. Nursing home jobs are strenuous and underpaid, contributing to the shortage. Strategies to address the gap include higher pay, increased immigration, and better career ladders.

Care.com CEO Brad Wilson notes a surge in demand for senior care, leading the company to expand offerings in the sector. As the senior population grows, so does the need for caregivers, especially among the sandwich generation caring for both older parents and young children. Senior care is becoming a significant challenge, requiring innovative solutions.

Read more at CNBC: The senior population is booming. Caregiving is struggling to keep up