For the second consecutive quarter, new development activity for seniors housing showed a marked slowdown. Indeed, seniors housing construction starts totaled 2,737 units in the first-quarter of 2016, comprised of 802 independent living units and 1,935 assisted living units. On a four-quarter basis, a slowdown also was evident, as starts totaled 19,243 units, the weakest pace in a year. The…
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NIC released its initial
Skilled Nursing Data Report on March 10, 2016. The report included a few key data points that showed time-series data from October 2011 through December 2015. This week’s blog post provides a more detailed analysis of the current data release.
Occupancy Continued Gradual Decline
The decline in skilled nursing property occupancy has been a topic of…
Source: Zywiak, W. (2010, June). U.S. healthcare workforce shortages: Caregivers. [full article]
With the quit ratio of health care workers rising to its highest level since 2008 and with a national unemployment rate of 5.0% as of March 2016, operators of seniors housing and care properties are increasingly finding it challenging to recruit, hire and retain good employees. Additionally, competition…
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The Labor Department reported that nonfarm employment increased by a healthy 215,000 positions in March. Employment increased in the retail trade, construction, and health care sectors. Job losses occurred in manufacturing and mining. The change in payroll employment for January was revised from 172,000 to 168,000, and the change for February was revised from 242,000 to 245,000. With these revisions,…
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As America ages, the U.S. economy and its macro components—Social Security, Medicare, workforce, and taxation, to name a few—will be affected. Today federal spending on earned-benefit programs such as Social Security and Medicare accounts for nearly two-thirds of the total federal budget. These programs’ expenses crowd out discretionary spending for other high-priority societal needs, including education, infrastructure, and even defense…
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