NIC Notes

Insights in Seniors Housing & Care

Economic Trends  |  Seniors Housing  |  Workforce

26 Million Jobs Lost in Past Five weeks

By: Beth Mace  |  April 23, 2020

The Department of Labor reported that 4.4 million Americans filed for unemployment insurance benefits in the week ending April 18, 2020 as the COVID-19 pandemic continues to cause businesses to lay off or temporarily furlough workers due to lock down across much of the country.

Ideas and Discussion  |  Seniors Housing  |  Skilled Nursing  |  Workforce

“We Feel We Are Alone in a War Zone”

By: NIC  |  April 17, 2020

In response to the COVID-19 pandemic and associated economic crisis, NIC has launched a number of initiatives designed to inform the seniors housing and care industry, even at today’s rapid pace of change. One of these is our “Executive Insights Survey,” which takes the pulse of hundreds of operators, representing thousands of properties across the country. Survey results and analysis are now published weekly, on this NIC Notes blog.

Economic Trends  |  Seniors Housing  |  Workforce

All-time High Reached for Continuous Unemployment Insurance Claims

By: Beth Mace  |  April 16, 2020

The Department of Labor reported that 5,245,000 Americans filed for unemployment insurance benefits in the week ending April 11, 2020 as the COVID-19 pandemic continues to cause businesses to reduce or furlough their workforces as sales plummet. This was a decline of 1,370,000 from the previous week’s upwardly revised level of 6,615,000. The speed and scale of the job losses is unprecedented.  In the past four weeks, more than 22 million people have filed claims. For perspective, there were about 21.5 million jobs generated during the employment expansion that began in October 2010 or said another way, it took four weeks to lose the jobs it took 9.5 years to generate.

Economic Trends  |  Seniors Housing  |  Workforce

Initial Jobless Claims Remain High at 6.6 million in the Week Ending April 4

By: Beth Mace  |  April 09, 2020

The Department of Labor reported that 6,606,000 Americans filed for unemployment insurance benefits in the week ending April 4, 2020 as the COVID-19 pandemic caused businesses to reduce or furlough their workforces. This was a very slight decline of 261,000 from the previous week’s upwardly revised record high level of 6,868,000. The speed and scale of the job losses is unprecedented. In the past three weeks, more than 16 million people have filed claims. At its worse during the Great Recession, there were 665,000 first-time claims filed in the week ended March 28, 2009. That was second only to the week ended October 2, 1982, when 695,000 first-time claims were filed.