Miami-Fort Lauderdale-Miami Beach, FL
Q1 2011 - Market Summary

The near term demand for health care workers in the Miami metropolitan area continued to improve during the first quarter of 2011. Of note, a number of expansion plans were announced for this year including Miami Children’s, Memorial Health, Baptist Health South Florida, Bethesda Healthcare, Miami Jewish, University of Miami and Aventura.

Q1 Workforce Announcements

Building for the future. February 11, 2011
South Florida’s hospitals have become more aggressive in their expansion plans, both in new programs and buildings, as they forecast rising demand for health services:
-Miami Children’s Hospital plans to break ground this year on a 120-bed tower
- Memorial Health System is constructing a separate building for Joe DiMaggio Children’s Hospital
- Baptist Health South Florida is spending $212 million to build West Kendall Baptist Hospital, which will have 700 employees
- Bethesda Healthcare System is building a physician office building that opens this year and an 80-bed hospital that should open in 2013
- Miami Jewish Health Systems hopes to break ground in six months on a long-term 24-bed acute care hospital on its campus
- University of Miami Health System also plans to break ground in 2012 on a 250,000-square-foot medical center on its Coral Gables campus
- Aventura Hospital and Medical Center spending $10 million for a 30,000-square-foot tower with 42 private rooms.
http://www.bizjournals.com/southflorida/print-edition/2011/02/11/building-for-the-future.html

Previous market news

Hospitals and 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 Miami-Fort Lauderdale-Miami Beach 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 Miami-Fort Lauderdale-Miami Beach 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 Miami-Fort Lauderdale-Miami Beach market.

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

Additional Factors Influencing HWS Labor Market Pulse^TM Index

• U.S. Census Bureau Population 5,414,772, #7 largest market
• U.S. Census Bureau Population #105 oldest market
• U.S. Census Bureau Population Growth 8.1%, #167 fastest growing market