Denver-Aurora, CO
Denver-Aurora, CO
Q1 2011 - Market Summary
The near term demand for health care workers in the Denver metropolitan area weakened during the first quarter of 2011.
On a comparative basis, the strength of the Denver health care labor market as measured by its Q1 LMPI score fell by 20% to 45.8, compared to the national composite of 51.5, up 4% from the prior quarter.
Q1 Workforce Announcements
No notable workforce announcements during Q1 2011.
Hospitals and Health Systems
Source: US News & World Report
Education Program Expansion and Closures
No notable education program expansions or closures in 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 Denver-Aurora, CO 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 Denver-Aurora, CO 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 Denver-Aurora, CO market.
Source: www.bls.gov accessed 3/29/2011
Additional Factors Influencing HWS Labor Market PulseTM 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
- Executive Summary
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