NIC Notes

Insights in Seniors Housing & Care

Economic Trends  |  Seniors Housing

U.S. Jobs Fall in December for First Time Since April

By: Beth Mace  |  January 08, 2021

The Labor Department reported that nonfarm payrolls fell by 140,000 in December and that the unemployment rate was unchanged at 6.7%. This was the first decline in jobs since April and reflects the recent increase in COVID-19 cases and efforts to contain the pandemic.

COVID-19  |  Market Trends  |  NIC MAP Vision

3Q2020 Seniors Housing Actual Rates Report Key Takeaways

By: Beth Mace  |  December 08, 2020

The NIC MAP® Data Service recently released national monthly data through September 2020 for actual rates and leasing velocity. In this release, NIC also provided data on three metropolitan areas for which there is enough data to report:  Atlanta, Philadelphia, and Phoenix.  

Economic Trends  |  Seniors Housing

Payroll Gains Continue to Slow

By: Beth Mace  |  December 04, 2020

The Labor Department reported that nonfarm payrolls rose by 245,000 in November and that the unemployment rate fell to 6.7% from 6.9% in October.  This suggests that the employment recovery from the COVID-related drop in March and April continues, but at a decelerating pace.  The consensus estimates for November had been for a gain of 470,000.  In November, nonfarm employment was below its February level by 9.8 million jobs or by 6.5%.

Economic Trends  |  Seniors Housing

Jobless Rate Falls to 6.9% in October, Payrolls Rise Further

By: Beth Mace  |  November 09, 2020

The Labor Department reported that nonfarm payrolls rose by 638,000 in October and that the unemployment rate fell to 6.9% from 7.9% in September. This suggests that the employment recovery from the COVID-related drop in March and April continues. Moreover, the increase is stronger than it seems on the surface because it includes a 147,000 decline in temporary Census workers. The consensus estimates for October had been for a gain of 580,000. Roughly 12.1 million jobs have been recovered during the May to October period. This is a little more than half the 22.2 million jobs lost since the pandemic began. The pace of improvement is slowing, however. In July, the economy added almost 1.8 million jobs and another 1.5 million in August. Gains slowed to 672,000 in September and 638,000 in October