In the last major release of economic conditions prior to the presidential election on November 8, the Labor Department reported on Friday that nonfarm payrolls increased by 161,000 positions in October. Hiring has now averaged 181,000 new positions per month over the past 10 months and 176,000 per month over the past 3 months. The year-to-date average was down from average monthly gains of 229,000 in 2015. Nevertheless, since 2010, nearly 15 million jobs have been created. The October gain was less than the consensus projection of 175,000 positions.
The U.S. Government Accountability Office (GAO) concluded an investigation into data from the Centers for Medicare & Medicaid Services (CMS) on nursing homes, staffing practices, and financial performance by recommending that CMS make such data more easily accessible by the public and ensure the data’s validity. In the course of the investigation, the GAO revealed insights about margins and operations relative to the skilled nursing properties’ organization types. The agency’s report underscores the need for more and better financial skilled nursing data in the industry.
More than six years into expansion, the labor market continued to add jobs in September. The Labor Department reported on Friday that nonfarm payrolls increased by 156,000 positions in September. Hiring has now averaged 178,000 new positions per month over the past nine months. However, the September gain was less than the 175,000 positions consensus projection and was down from an upward revised gain of 167,000 in August (originally reported as 151,000). The year-to-date average was also down from average monthly gains of 229,000 in 2015.
On September 15, at the 2016 NIC Fall Conference, NIC released its 2Q2016 Skilled Nursing Data Report. The report includes key occupancy and revenue metrics from October 2011 through June 2016. In today’s blog post, I’ll walk you through the data.