NIC Notes

Insights in Seniors Housing & Care

Business Environment  |  Economic Trends  |  Workforce

Jobs Surge 517,000 in January; Jobless Rate Slides to 3.4%

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  |  Ideas and Discussion  |  Workforce

Advancing Diversity, Equity, Inclusion, and Belonging in Senior Living

By: Chuck Harry  |  December 16, 2022

Sharing a commitment to advancing diversity, equity, inclusion, and belonging (DEIB) in the senior living industry, Argentum, the American Seniors Housing Association (ASHA), and NIC earlier this year formed the Senior Living DEIB Coalition to empower businesses operating in and around senior living.  

Economic Trends  |  Senior Housing  |  Workforce

November Jobless Rate Unchanged at 3.7%

By: Beth Mace  |  December 02, 2022

The U.S. Bureau of Labor Statistics reported that nonfarm payrolls rose by 263,000 in November 2022 and the unemployment rate remained steady at 3.7%. The November increase was roughly the same as average growth over the prior three months (282,000), but well below the year-to-date average of 392,000 and the monthly average of 562,000 seen in 2021, and higher than the average monthly gains of 164,000 seen in 2019. Market expectations had called for a gain of 200,000 jobs. Revisions subtracted 23,000 positions to total payrolls in the previous two months. The monthly gain paints an image of a still growing, but slowing, labor market.

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

Emerging Trends in Senior Housing

By: Beth Mace  |  November 17, 2022

This article originally appeared in the “Emerging Trends in Real Estate® 2023” report issued by the Urban Land Institute and PwC. Data cited in article as of original publish date; more current data may be available.    Major factors influencing senior housing continue to evolve. Some trends are well known while others are still developing. In 2022 and into 2023, trends for senior housing include the following: