NIC Notes

Insights in Seniors Housing & Care

Economic Trends

Deep Dive: A Three-year Look Back at Supply and Demand Dynamics by Metropolitan Market

By: Beth Burnham Mace  |  December 12, 2018

As in all real estate, “its local” for seniors housing as well.  Indeed, while the seniors housing occupancy rate remained at a six-year low rate of 87.9% in the third quarter, not all markets were weak. There was a very wide disparity between the best and poorest performing markets with a 13.8 percentage point variance between the most occupied market (San Jose: 94.6%) and the least occupied market (Houston: 80.8%) in the third quarter. Every market performs differently as unique conditions and factors contribute to disparate development and demand patterns at the local and metropolitan market level.

Economic Trends  |  Market Trends  |  Workforce

November Unemployment Rate Unchanged at Lowest Level in Nearly 50 Years

By: Beth Burnham Mace  |  December 07, 2018

The unemployment rate remained low at 3.7% in November, which is the lowest rate since December 1969. The jobless rate remains well below the rate of what is generally believed to be the “natural rate of unemployment” of 4.5%, which suggests that upward pressure on wage rates will continue. Further indications that this is in fact starting to occur were released in the report. Average hourly earnings for all employees on private nonfarm payrolls rose in November by six cents to $27.35. Over the past 12 months, average hourly earnings have increased by 81 cents, or 3.1%. This was the same as last month and the strongest pace since 2009. Last year, they rose by 2.6%.

Economic Trends  |  Market Trends  |  Senior Housing  |  Skilled Nursing  |  Workforce

October Jobless Rate Remains at Lowest Level Since 1969

By: Beth Burnham Mace  |  November 02, 2018

The unemployment rate held steady at 3.7% in October, which is the lowest rate since December 1969. The jobless rate remains well below the rate of what is generally believed to be the “natural rate of unemployment” of 4.5%, which suggests that there will be building pressure on wage rate growth.

Economic Trends  |  Market Trends  |  Senior Housing  |  Workforce

Five Key Takeaways from NIC’s Third Quarter 2018 Seniors Housing Data Release

By: Beth Burnham Mace  |  October 17, 2018

NIC MAP® Data Service clients attended a webinar in mid-October on the key seniors housing data trends during the third quarter of 2018.  Key takeaways included the following:

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