The Labor Department reported that nonfarm payrolls rose by a strong 850,000 in June 2021. The consensus estimates for June had been for a gain of 720,000. Employment is now up by 15.6 million since April 2020 but is down by 6.8 million or 4.4% from its pre-pandemic level in February 2020. The robust jobs report followed reports earlier this week that show a strengthening economy. This includes reports of strong consumer confidence, improving outlooks for capital spending by businesses and a report from the Congressional Budget Office (CBO) that projected a full recovery of pandemic-related job losses by the middle of 2022. Notable job gains occurred in leisure and hospitality (343,000), in public and private education, professional and business services, retail trade and other services.
The primary tool the Centers for Medicare & Medicaid Services (CMS) has for enforcing care standards at skilled nursing properties are civil monetary penalties (CMPs). CMPs are essentially fines for facilities found to be out of compliance with CMS care standards. Based on a national average, CMS penalties for skilled nursing properties had been on the rise from 2016 to the third quarter of 2019.
“Recent data from NIC’s Executive Survey Insights, NIC MAP® Data, powered by NIC MAP Vision, and NIC Analytics suggest that cautious optimism may be justified as occupancy rates appear to have reached their low points around the end of March and are gradually improving for many operators of seniors housing and care properties across the nation. Between 48% and 71% of organizations reported upward changes in occupancy depending on the type of care segment. Of note, more than a third of organizations with assisted living residences and nearly one-half with nursing care beds saw occupancy increases of three percentage points or more.
NIC’s recent acquisition of VisionLTC and the creation of NIC MAP Vision integrates the market-leading NIC MAP® Data Service with VisionLTC’s best-in-class data for investors, owners, and operators to provide significantly deeper and broader data for industry stakeholders. This article highlights one of the data concepts available to clients.