Business Environment | Economic Trends | Workforce
By: Beth Mace | March 10, 2023
The unemployment rate reversed course and rose to 3.6% in February from 3.4% in January, which was its lowest level since 1969. Separately, the U.S. Bureau of Labor Statistics also reported that nonfarm payrolls rose by 311,000 in February 2023, below the monthly pace of 343,000 over the prior six months, but still strong. Market expectations had called for a gain of less than 225,000 jobs. Revisions subtracted 34,000 positions to total payrolls in the previous two months.
Business Environment | Senior Housing | Skilled Nursing | Workforce
By: Ryan Brooks | March 10, 2023
“In a new question to the ESI, respondents were asked what areas have been impacted by the rising interest rate environment. Purchasing properties was the area most reported to be affected by rising interest rates, followed by the ability to recapitalize properties. Across all care segments, one in twelve operators (8%) indicate that their abilities to purchase, sell, and recapitalize properties have all been impacted by the rising interest rate environment.
Business Environment | Market Trends | NIC MAP Data | NIC MAP Vision | Senior Housing | occupancy
By: Omar Zahraoui | March 09, 2023
The senior housing stabilized occupancy rate for the NIC MAP Primary Markets edged up to 84.3% in the February 2023 reporting period, up 0.2 percentage point (pps) from the January 2023 reporting period on three-month rolling basis, according to intra-quarterly NIC MAP® data, released by NIC MAP Vision. From its pandemic record low of 80.3% in June 2021, senior housing stabilized occupancy increased by 4.0pps but remained 5.1pps below pre-pandemic March 2020 levels of 89.4%.
Actual Rates | NIC MAP Data | NIC MAP Vision | Senior Housing
By: Beth Mace and Omar Zahraoui | March 09, 2023
An In-Depth Analysis of NIC MAP Vision Actual Rates Data Executive Summary Through this in-depth analysis, we hope to shine a spotlight on the relationship between inflation, the pace of growth seen in-place actual rates, demand and occupancy. Actual in-place rates refer to effective rates or the rates that are “actually being paid” to live in senior housing. This is often not the same as the asking or listing rate that may be advertised or listed in a brochure.
