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Seattle-Bellevue-Everett, WA

Seattle-Bellevue-Everett, WA
Q1 2010 - Market Summary

The near term demand for health care workers in the Seattle metropolitan area improved considerably during the 1st quarter of 2010. Of particular note, the Swedish Hospital Group announced that it will create some 1,500 new jobs and replace hundreds of employees who will transfer or retire in the next five years. Also of note during the quarter, Seattle Childrens and the Laurelhurst Community Club reached an agreement over the hospital’s proposed expansion plans.

On a comparative basis, the Seattle health care labor market outperformed much of the rest of the country during Q1, registering an LMPI score of 87.3, up 76% from the prior quarter and comparing favorably to the national composite index of 49.9.


Q1 Workforce Announcements

Swedish will create 1,500 new jobs. March 5, 2010
Swedish Hospital Group today has fewer than 200 open positions, but as planned facilities come online over the next five years, we will create some 1,500 new jobs and replace hundreds of employees who will transfer or retire.
http://seattle.bizjournals.com/seattle/stories/2010/03/08/focus19.html

Seattle Children’s settles with community. February 9, 2010
After weeks of negotiation, Seattle Children’s hospital and the Laurelhurst Community Club reached an agreement that reduces the hospital’s proposed expansion by 20 percent.
http://seattle.bizjournals.com/seattle/stories/2010/02/08/daily16.html

Amid recession, thousands of job postings. January 8, 2010
Providence Health & Services has more than 500 openings at its hospitals and clinics across the state. Swedish Hospital Group, based in Seattle, has 240 openings, mostly for clinical positions.
http://seattle.bizjournals.com/seattle/stories/2010/01/11/focus2.html

Previous market news

Hospitals and Health Systems

Source: US News & World Report


Education Program Expansion and Closures

No notable education program expansions or closures 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 Seattle-Bellevue-Everett 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 Seattle-Bellevue-Everett 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 Seattle-Bellevue-Everett market.

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

Additional Factors Influencing HWS Labor Market PulseTM Index

• U.S. Census Bureau Population 3,344,813, #15 largest market
• U.S. Census Bureau Population #168 oldest market
• U.S. Census Bureau Population Growth 9.9%, #139 fastest growing market


   

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