Table of Contents

Press + to list detailed section contents

Chicago-Naperville-Joliet, IL

Chicago-Naperville-Joliet, IL
Q1 2011 - Market Summary



After a decline last quarter, the Chicago metropolitan area health care labor market improved again during Q1 despite some warning signs of continued rough times ahead. Of note during the quarter, many of the 138 Cook County nurses previously laid-off have been able to find employment at other hospitals, leaving Cook County with 32 unfilled nursing positions. Also, Loyola University has sold its hospital system relieving itself of debt and a system consistently operating in the red.

On a comparative basis, the strength of the Chicago metro health care labor market improved by 15% from the prior quarter registering a Q1 LMPI score of 45.6 compared to the national composite of 51.5



Q1 Workforce Announcements

Loyola University reaps $100 million in hospital sale. March 22, 2011
 Loyola University Chicago is raking in $100 million from the sale of its hospital system, which hasn’t seen an operating profit in seven years, and freeing itself from a mountain of debt.
http://www.chicagobusiness.com/article/20110322/NEWS03/...

Laid-off Cook County nurses shift into other jobs. March 2, 2011
Cook County has found other jobs for most of the nurses whose positions were cut at two of its public hospitals. The county still has 32 nursing vacancies. Those nurses have chosen not to fill a vacant position and are leaving the county health system.
http://www.chicagobusiness.com/article/20110302/NEWS03/...

Provident, Oak Forest hospitals to cut nursing staff. February 14, 2011
Cook County is cutting 138 nursing jobs at two hospitals.
http://www.chicagobusiness.com/article/20110214/NEWS03/...

Previous market news

Hospitals & Health Systems

Source: US News & World Report

Education Program Expansion and Closures

No notable education program expansions and closures announced during Q1 2011.

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 Chicago-Naperville-Joliet market.

Source: http://www2.standardandpoors.com accessed 3/29/2011

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 Chicago-Naperville-Joliet market.

Source: www.census.gov accessed 3/29/2011

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 Chicago-Naperville-Joliet market.

Source: www.bls.gov accessed 3/29/2011

Additional Factors Influencing HWS Labor Market PulseTM Index

  • U.S. Census Bureau Population 9,569,624, #3 largest market
  • U.S. Census Bureau Population 246th oldest market
  • U.S. Census Bureau Population Growth 5.2%, #221 fastest growing market
   

NEED HELP LOGGING IN?

Forgotten password? Reset
More help? Please contact us.