NIC Notes

Insights in Seniors Housing & Care

Economic Trends  |  Workforce

Employment Increased by 428k in April, Jobless Rate Unchanged at 3.6%

By: Beth Mace  |  May 06, 2022

The Labor Department reported that nonfarm payrolls rose by 428,000 in April 2022 and the unemployment rate held steady at 3.6%. The report confirms that the labor market remains resilient, despite the war in Ukraine and on-going supply-chain pressures. Concerns about rising wage costs and inflation are also backed by this report. Average hourly earnings for all employees on private nonfarm payrolls rose by $0.13 in April to $31.85. This was a gain of 5.5% from year-earlier levels, just slightly less than the 5.6% gain seen in March. The data shows that the labor market continues to gain momentum and wage growth is accelerating. The report strengthens the Federal Reserve’s intention of raising interest rates further following the 0.50 percentage point hike in the fed funds rate announced earlier this week.

Business Environment  |  COVID-19  |  Seniors Housing  |  Workforce

Employment Continues to Grow at a Fast Clip, Increasing by 431,000 in March, While the Jobless Rate Falls Close to Its Pre-Pandemic Level

By: Beth Mace  |  April 01, 2022

As the economy continues to move back toward normalcy and away from the pandemic, the Labor Department reported that nonfarm payrolls rose by 431,000 in March 2022. The data suggest that the war in Ukraine and the surge in oil prices has not dampened hiring activity.

Business Environment  |  COVID-19  |  Seniors Housing  |  Workforce

Employment Surges by 678,000 Positions in February, Despite Omicron

By: Beth Mace  |  March 07, 2022

The Labor Department reported that nonfarm payrolls rose by 678,000 in February 2022. This was stronger than market expectations of an increase of 423,000 and occurred despite the impact of omicron on the economy. Revisions added 92,000 to total payrolls in the previous two months. Nevertheless, nonfarm payrolls were still down by 2.1 million or 1.4% from their pre-pandemic level in February 2020.

Economic Trends  |  Workforce

Employment Up 467,000 Positions in January, Despite Omicron

By: Beth Mace  |  February 04, 2022

The Labor Department reported that nonfarm payrolls rose by 467,000 in January 2022. This was stronger than market expectations of an increase of 125,000 and occurred despite the impact of Omicron on the economy. Many analysts had expected the employment numbers to be negatively affected by absenteeism and self-isolation driven by the Omicron virus wave.

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