The Labor Department reported that nonfarm payrolls rose by 266,000 in April. This was a sharp slowdown from the downwardly revised gain of 770,000 in March, originally reported as 916,000. The consensus estimates for April had been for a gain of 1,000,000. Despite the April increase, job levels remain 8.2 million below the pre-pandemic levels of February 2020.
NIC MAP Vision clients with access to NIC MAP® Data attended a webinar in mid-April on key seniors housing data trends during the first quarter of 2021. Findings reflected the impact of COVID-19 across the seniors housing and care sector and were presented by NIC’s research team. Key takeaways included the following:
NIC’s recent acquisition of VisionLTC and 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.
A lot of attention has been paid to the occupancy challenges that seniors housing operators have faced since the COVID-19 pandemic began in early 2020. This blog focuses on the impact of the pandemic on occupancy by operator size. We conclude that single-property operators generally saw smaller occupancy declines during 2020 than very large operators. New supply, as well as pandemic-related changes in the rates of move-ins and move-outs, contributed to this disparity.