The Labor Department reported that nonfarm payrolls increased by 151,000 positions in August, a bit less than the 180,000 positions consensus projection and down from a very strong showing of 275,000 in July and 271,000 in June. Hiring has averaged 182,000 new positions per month over the past eight months. That is down from average gains of 229,000 in 2015. Revisions subtracted a total of 1,000 jobs to payrolls in the previous two months.
Overviews of current markets trends are the highlight for many at an NIC conference, and 2016 is no different. At this year’s NIC Fall Conference, being held September 14–16 in Washington, D.C., two sessions on Friday will help attendees wrap their minds around two key questions circulating in seniors housing and care: what’s happening in the markets now, and where are we headed?
The first Friday of the month at 8:30 EDT is widely anticipated by market participants as the Labor Department presents a fresh gauge of the most recent economic performance in its release of the labor report for the prior month. Today’s number was even more closely watched since recent data releases on the economy (such as the second quarter GDP report that showed an expansion of only 1.2% at an annualized rate) suggest sluggish overall economic growth. The Federal Reserve will next meet on September 20 and 21 to assess the strength of the economy and decide if it should raise its benchmark interest rate. Last week, it decided to leave rates unchanged.