Boston-Cambridge-Quincy, MA-NH
Q1 2010 – Market Summary

The growth in near-term demand for health care workers in the Boston metropolitan area remained steady for Q1 2010. Of note during the quarter, Childrens Hospital won approval to extend eight floors of its main building by a combined 80,000 square feet. This expansion will increase the number of beds by approximately 36.

Q4 Workforce Announcements

Children’s wins expansion approval. February 17, 2010
Children’s Hospital won Boston Redevelopment Authority permission to extend eight floors of its main building by a combined 80,000 square feet to increase the number of beds by about three dozen.
http://boston.bizjournals.com/boston/stories/2010/02/15/daily22.html
Previous market news

Hospitals and Health Systems

Source: US News & World Report

Education Program Expansion and Closures

No notable education program expansions and closures announced during Q1 2010.

Education Programs

Source: The Integrated Postsecondary Education Data System

Health of the Local Economy

Declining home prices may cause healthcare employees to seek additional hours from current employers, delay retirement plans and be more willing to relocate for a better job opportunities. Below is the Case-Shiller Home Price Index for the overall Boston-Cambridge-Quincy, MA-NH market.

Source: http://www2.standardandpoors.com accessed 3/31/2010

Lower home ownership rates reduce the impact of home price fluctuations and increase the willingness of healthcare employees to relocate for better job opportunities. Below are home ownership rates for the overall Boston-Cambridge-Quincy, MA-NH market.

Source: www.census.gov accessed 3/18/2010

The recent rising unemployment rates create new demands for health services. Higher unemployment shifts the mix away from higher margin procedures to more primary care in the emergency room and critical care for conditions that should have been treated early at a primary care physician. In general, rising unemployment also reduces turnover and engagement of employed workers, while low unemployment tends to increase intra market churn. Below are unemployment rates for the overall Boston-Cambridge-Quincy, MA-NH market.

Source: www.bls.gov accessed 3/18/2010

Additional Factors Influencing HWS Labor Market Pulse^TM Index

• U.S. Census Bureau Population 4,522,858, #10 largest market
• U.S Census Bureau Population 119th oldest market
• U.S. Census Bureau Population Growth 3%, #264 fastest growing market