COVID-19 reversed domestic worker unemployment as health concerns mounted and homeowners worked from home, reducing the need for services and stunting revenue growth. In addition, statewide regulations that boosted work benefits for private household employees and were expected to lead to added hiring costs further reduced the value of domestic hires. But the negative impact on industry growth was somewhat reversed by per capita disposable income growth, increases in households earning more than $100,000 and the return to work. Despite the significant losses experienced in 2020 and the falloff in 2022, industry-wide revenue has declined at a CAGR of 1.6% over the past five years and is expected to total $10.2 billion in 2023, when revenue will jump by an estimated 4.8%.In good hands: Industry revenue will grow at a faster rate as macroeconomic and demographic trends recover
This industry comprises private households that hire workers to perform household work and childcare activities in their home. This includes personal chefs, maids, nannies, butlers, gardeners, caretakers and other maintenance workers. Individuals who are self-employed or employed by an agency are not included in this industry.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Table of Contents
ABOUT THIS INDUSTRY- Industry Definition
- Main Activities
- Similar Industries
- Additional Resources
INDUSTRY PERFORMANCE
- Executive Summary
- Key External Drivers
- Current Performance
- Industry Outlook
- Industry Life Cycle
- Supply Chain
- Products & Services
- Demand Determinants
- Major Markets
- International Trade
- Business Locations
- Market Share Concentration
- Key Success Factors
- Cost Structure Benchmarks
- Basis of Competition
- Barriers to Entry
- Industry Globalization
OPERATING CONDITIONS
- Capital Intensity
- Technology & Systems
- Revenue Volatility
- Regulation & Policy
- Industry Assistance
- Industry Data
- Annual Change
- Key Ratios
Methodology
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