Nursing and residential care facilities
Industry profile, February 2020
Sections: Description | Pricing | Costs | Demand | Appendix
This page is an industry profile for the Nursing and residential care facilities industry. It provides a general economic overview of recent developments in the industry. This includes information on industry pricing, costs, and demand. Below you will find a description of what type of business establishments are included in this industry. For information on how to best utilize this industry profile please visit our Business Solutions.
Industry Description
Industries in the Nursing and Residential Care Facilities subsector provide residential care combined with either nursing, supervisory, or other types of care as required by the residents. In this subsector, the facilities are a significant part of the production process, and the care provided is a mix of health and social services with the health services being largely some level of nursing services.
This industry description was sourced from the North American Industry Classification System.
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- As of January 2020, prices in this industry had increased 0.8 percent since the previous quarter.
- From January 2019 to January 2020 prices in this industry increased 2.3 percent.
- Prices increased 13 percent in the five year period starting in January 2015 and ending in January 2020.
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- As of January 2020, costs in this industry had 0 percent since the previous quarter.
- From January 2019 to January 2020 costs in this industry increased 1.4 percent.
- Costs increased 9.1 percent in the five year period starting in January 2015 and ending in January 2020.
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- The largest cost for this industry is purchases made to the Labor sector. This sector accounts for 57.2% of the industry's overall costs.
- From January 2019 to January 2020, the largest change in costs for this industry were costs associated with purchases to the Wholesale Trade sector. Costs associated with this sector increased 3.7%.
| Sector Name | Percentage of Costs | Annual Percent Change 4 |
|---|---|---|
| Labor | 57.2% | +1.8% |
| Real Estate and Rental and Leasing | 12.1% | +1.1% |
| Manufacturing | 9.6% | -0.2% |
| Professional, Scientific, and Technical Services | 4.8% | +0.4% |
| Wholesale Trade | 4.2% | +3.7% |
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- As of July 2019, demand for this industry had increased 0.1 percent since the previous quarter.
- From July 2018 to January 2020 costs in this industry increased 1.4 percent.
- Costs increased 5.2 percent in the five year period starting in July 2014 and ending in July 2019.
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- The sector that contributes the most to this industry's demand is the Personal consumption sector. This sector accounts for 99.6% of the industry's overall demand.
- From January 2019 to January 2020, the largest change in demand for this industry was from the Personal consumption sector, where demand increased 1.4%.
| Sector Name | Percentage of Demand | Annual Percent Change 6 |
|---|---|---|
| Personal consumption | 99.6% | +1.4% |
| Public Administration | 0.4% | +1.1% |
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- Pricing measured from January 2020.
- The BLS PPI used for this industry is PCU6231--6231--.
- Costs measured from January 2020
- Demand measured from July 2019
