Denver-Aurora, CO
Q1 2010 - Market Summary

The near-term demand for health care workers in the Denver metropolitan area improved slightly during the 1st quarter of 2010 and the number of workers required to meet announced expansion plans will likely exceed the number of announced positions eliminated or deferred. Of note, Centura announced that will soon unveil plans for a $26 million full-service hospital in Castle Rock and Denver Health purchased four acres of land in Denver’s Montbello neighborhood on which it will build a new clinic.

Q1 Workforce Announcements

Centura Health to unveil plans for Castle Rock project. January 11, 2010
Centura Health, Colorado largest hospital system, says it will unveil details and a timeline for a proposed $26.3 million project in Castle Rock that’s scheduled to become a full-service hospital at some point.
http://denver.bizjournals.com/denver/stories/2010/01/11/daily18.html

Hospitals and Health Systems

Source: US News & World Report

Education Program Expansion and Closures

No notable program expansions or closures in 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 Denver-Aurora, CO 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 Denver-Aurora, CO 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 Denver-Aurora, CO market.

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

Additional Factors Influencing HWS Labor Market Pulse^TM Index

• U.S. Census Bureau Population 2,506,626, #21 largest market
• U.S, Census Bureau Population 240th oldest market
• U.S. Census Bureau Population Growth 15%, #74 fastest growing market