Economic Trends | Market Trends | Senior Housing | Workforce
By: Beth Mace | January 23, 2019
NIC MAP® Data Service clients attended a webinar in mid-January on the key seniors housing data trends during the fourth quarter of 2018. Key takeaways included the following:
Economic Trends | Market Trends | Senior Housing | Skilled Nursing | Workforce
By: Beth Mace | January 04, 2019
Over the year, the U.S. economy added 2.64 million jobs, making it the third best year for job growth since the recession a decade ago and the third best year since 2000.
By: Beth 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
By: Beth 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%.
