NIC Notes

Insights in Seniors Housing & Care

Economic Trends  |  Workforce

Jobs Increase by 236,000 in March; Jobless Rate Edges Down to 3.5%

By: Beth Mace  |  April 07, 2023

The Bureau of Labor Statistics reported that the unemployment rate slipped back to 3.5% in March from 3.6% in February, but up from 3.4% in January, which was its lowest level since 1969. It has been hovering in a narrow range for many months now. Separately, the BLS also reported that nonfarm payrolls rose by 236,000 in March 2023, below the monthly pace of 334,000 over the prior six months, but still strong. Market expectations had called for a gain of 230,000 jobs. Revisions subtracted 17,000 positions to total payrolls in the previous two months.

Business Environment  |  Economic Trends  |  Workforce

Jobs Increase by 311,000 in February; Jobless Rate Rises to 3.6%

By: Beth Mace  |  March 10, 2023

The unemployment rate reversed course and rose to 3.6% in February from 3.4% in January, which was its lowest level since 1969. Separately, the U.S. Bureau of Labor Statistics also reported that nonfarm payrolls rose by 311,000 in February 2023, below the monthly pace of 343,000 over the prior six months, but still strong. Market expectations had called for a gain of less than 225,000 jobs. Revisions subtracted 34,000 positions to total payrolls in the previous two months.

Economic Trends  |  Ideas and Discussion  |  Market Trends  |  Senior Housing

Senior Housing Unit Mix: An Important Factor for Better Performance

By: Omar Zahraoui  |  February 22, 2023

INTRODUCTION Many factors play a role in determining the performance of an individual senior housing property. One of these considerations is unit mix, i.e., the share of studios, one-bedroom, or two-bedroom units within a single property. The unit mix of a senior housing property is a critical aspect of a property that must be carefully planned, managed, and executed upon. Senior housing constituents, both upstream and downstream, understand that the proper unit mix of a property is a vitally important component of maximizing occupancy and minimizing resident turnover as a resident moves through the continuum of care.

Economic Trends  |  Ideas and Discussion  |  Market Trends  |  occupancy

Thoughts from NIC’s Chief Economist—A Tale of Two Markets and Many Influences

By: Beth Mace  |  February 21, 2023

It’s a tale of two markets and many influencing factors as we move further into 2023. The capital markets remain hostage to the Federal Reserve which continues its course of tighter monetary policy and higher interest rates. Most pundits believe this will continue through mid-year 2023 until tangible evidence emerges of decelerating inflation, and in particular service inflation. Meanwhile, market fundamentals continue to improve for senior housing, with rising occupancy rates, strong demand patterns, and limited, albeit on-going, inventory growth.   

-->