Hot or Not 7 Facts About the Nanny Job Market

Uncertain economic times have made for a tough job market, though recent jobless figures suggest things are improving. With unemployment claims at their lowest since April the outlook, if not bright, is at least a bit less dim. So what about nanny jobs? Here, we’ll take a look at seven facts about the nanny job market to find the answer to the question, Is it hot or not?

1. Turnover – Traditionally, the nanny job field has had a high turnover rate. Opportunities open up as currently employed nannies move on to scholastic, family or alternative career pursuits. This means that jobs will continue to become available where families have already employed nannies. According to an INA survey in 2011, only 25% of nannies have held one long-term nanny position (more than 2 years with the same family).
2. Two Income Families – Another economic reality is that the majority of families in the U.S. will continue to rely on two salaries. With both parents working in more homes, the demand for nannies will also increase. According to the INA over 67% of the nannies surveyed in 2011 worked for a professional couple.
3. Cost of Daycare – For many households, the cost of leaving their children with a daycare center is at least as expensive as the cost of a live-in nanny. When such considerations as tax savings and food and shelter discounts are factored in, hiring a nanny is a much more attractive alternative.
4. Labor Statistics – The U.S. Department of Labor Bureau of Labor Statistics (BLS) estimates that the job market for child care workers will increase by 11% from the 1,301,900 jobs there were in 2008 to 1,443,900 by the year 2018.
5. Salaries / Benefits – Wages for child care workers vary with employers, as do benefits like health care. Licensing, certifications and education also play a significant part in what a nanny can earn. According to a 2011 INA survey the most common salary was around $600/week for a nanny.
6. Qualifications – The best job prospects will be for family childcare workers (nannies) with a degree, licensure or some coursework in child care / development. Excellent references, a minimum of a high school diploma, and a willingness to make at least a one-year commitment are generally required. Almost 20% of the nannies surveyed by the INA in 2011 held a bachelors degree in child development, education, or psychology.
7. Right Fit = Job Security – The job of a nanny requires patience, versatility, a love of children and a bonding with the host family/employer. Once a nanny has gained employment and forged that bond, she can enjoy a job security that is hard to find elsewhere in the job market.

Taken From Nanny