Portland-Vancouver-Beaverton, OR-WA
Portland-Vancouver-Beaverton, OR
Q1 2010 - Market Summary
The near-term demand for health care workers in the Portland metropolitan area held relatively steady during Q1 2010 with no notable workforce-related news for the second straight quarter.
On a comparative basis, the Portland health care labor market remained slightly weaker than the national composite. Its LMPI score of 45.8 for Q1 2010, unchanged from the prior quarter, compares to the national composite index of 49.9, down 8% from the prior quarter.
Q1 Workforce Announcements
No notable workforce expansion or contraction announcements during Q1 2010.
Hospitals and Health Systems
Source: US News & World Report
Education Program Expansion and Closures
No notable education program expansion or contraction announcements 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 Portland-Vancouver-Beaverton, OR-WA 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 Portland-Vancouver-Beaverton, OR-WA 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 Portland-Vancouver-Beaverton, OR-WA market.
Source: www.bls.gov accessed 3/18/2010
Additional Factors Influencing HWS Labor Market PulseTM Index
- U.S. Census Bureau Population 2,207,462, #23 largest market
- U.S. Census Bureau Population #206 oldest market
- U.S. Census Bureau Population Growth 14.5%, #79 fastest growing market
- Executive Summary
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