The COVID-19 pandemic has proved to be a huge setback for many industries. But it has been particularly devastating for the senior-living industry. The industry has been under pressure for some time due to labor shortages, rising inflation, and supply shortages.
However, quality senior-living companies are expected to withstand these short-term pressures through new investments, innovations, and partnerships. With the pandemic entering its third year, the fortunes of the senior-living industry have finally started to look up in part because 65% of the U.S. population is now fully vaccinated. With a third or booster shot being administered, the chances of severe illness from the virus is falling drastically, thereby making senior living places safe again to live and work. Furthermore, the demand for senior-living communities is rising rapidly due to the nation’s aging population.
