The Labor Department reported that there were 130,000 jobs added in August, below the consensus estimate of 160,000. About 25,000 of the jobs added were temporary positions associated with the 2020 census. For the eight months through August, the average monthly increase in total employment has been 158,000, below the average monthly gain of 223,000 in 2018. The private sector added 96,000 jobs in August, weaker than the monthly year-to-date pace of 145,000 and down from an average monthly gain of 215,000 in 2018.
Seniors housing isn’t quite like other commercial real estate investments. Returns and valuations can be significantly influenced by operational performance which makes acquisition and investment decisions complex. Professionals new to the industry can find underwriting a deal difficult and challenging.
The NIC MAP® Data Service recently released national monthly data through December 2018 for actual rates and leasing velocity. The NIC Actual Rates initiative is driven by the need to continually increase transparency in the seniors housing sector and achieve greater parity to data that is available in other real estate asset classes. Having access to accurate data on the monthly rates a seniors housing resident pays as compared to asking rates helps us achieve this goal.