Business Environment | Economic Trends | Workforce
By: Beth Mace | February 03, 2023
The unemployment rate fell to 3.4% in January, its lowest level since 1969 and below December’s already low rate of 3.5%. Separately, the U.S. Bureau of Labor Statistics also reported that nonfarm payrolls rose by a very large 517,000 in January 2023, nearly twice as much as in December (260,000) and more than the monthly average of 401,000 in 2022. Market expectations had called for a gain of less than 200,000 jobs. Revisions added 71,000 positions to total payrolls in the previous two months. The monthly gain and revisions paint an image of a still strong labor market.
Business Environment | Market Trends | NIC Fall Conference | NIC conference
By: NIC | January 25, 2023
Who, What, When, Where, Why. Those are the five basic questions vital to information gathering. The so-called five “W’s” are also a good place for owners and operators to start as they consider how to reposition a property amid occupancy challenges, changing demographics and an aging building stock. A panel of experts tackled the big questions on repositioning during an educational session at the 2022 NIC Fall Conference. The discussion, recapped below, was led by NIC Chief Economist Beth Mace.
Business Environment | Executive Survey Insights | Skilled Nursing | assisted living | staffing
By: Ryan Brooks | January 19, 2023
“In the Wave 49 survey, respondents were asked when their organization expected to return to pre-pandemic occupancy levels. Across all care segments the most common response was for occupancy to return at some point in the first half of 2023. Independent living (52%) and memory care (53%) operators were the most optimistic respondents, with more than half anticipating their organization’s occupancy levels would return to pre-pandemic levels within the next six months.
Business Environment | Ideas and Discussion | Market Trends | NIC Fall Conference
By: NIC | January 18, 2023
Playing off the catch phrase “winter is coming,” popularized in the medieval fantasy drama Game of Thrones, senior living investors and operators should be warned that “ESG is coming.”
