LMPI Methodology
Labor Market Pulse scours local press releases, new articles and other verifiable sources to quantify the impact of acute and urgent care facility expansion and closures, large scale recruitment, and temporary workforce reduction announcements.
The HWS Labor Market PulseTM Index (LMPI) provides a quarterly barometer of local market healthcare workforce expansion or contraction.
A proprietary estimate of net job creation (or reduction) is at the heart of the HWS Labor Market PulseTM Index (LMPI). The estimated net job creation is then adjusted for state labor market information estimates including total acute care employment in the local market, local employment trends, and other economic indicators included in this report. These adjustments allow Labor Market Pulse to compare local markets to each other and to larger national and international trends.
National health care workforce growth estimates are based on seasonally adjusted hospital employment estimates from the Bureau of Labor Statistics “Employment Situation New Release” available online at http://www.bls.gov/schedule/archives/empsit_nr.htm.
Details of Labor Market Pulse estimates and adjustments are held in strict confidence by Health Workforce Solutions and considered trade secrets. For more information on this and other health workforce indices and indicators, contact info@healthws.com.