The Labor Department reported that there were 157,000 jobs created in the U.S. economy in July, below the consensus expectation of 193,000. However, revisions added 59,000 to the prior two months as June was revised to 248,000 from 213,000 and May was revised to 268,000 from 244,000. Payrolls have averaged 215,000 per month so far this year, up from 182,000 last year.
Many of you are familiar with the Future Leaders Council (FLC), the prestigious volunteer board for emerging leaders in the seniors housing and care space. The FLC is one notable program designed to deliver on NIC's mission of nurturing leaders. But did you know NIC is also a sponsor for the National Emerging Leadership Summit (NELS)? As a member of the steering committee and a NELS Alumna, I represent NIC at this annual three-day summit in Washington, D.C., where rising stars in the seniors housing and care industry learn about leadership, advocacy, and career opportunities. NELS appears almost as an "FLC Light," attracting property-level executives in the early stages of their careers. Like the FLC program, NELS challenges its participants to complete group projects, but for a one-year instead of FLC’s three-year commitment.
First-quarter investment return data for the NCREIF-reported seniors housing properties equaled 2.14%, composed of a 0.79% capital return and a 1.36% income return. The annual total return through the first quarter of 2018 was 12.79%, overshadowing the NCREIF Property Index (NPI) result of 7.12% and the apartment result of 6.38%. However, at 13.53% industrial total returns outpaced seniors housing.