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Minneapolis-St. Paul-Bloomington, MN-WI

Minneapolis-St. Paul-Bloomington, MN-WI
Q1 2011 - Market Summary



The near term demand for health care workers in the Minneapolis-St. Paul metropolitan area remained steady during the first quarter of 2011. Of note, HealthPartners’ Regions Hospital is reviving a construction project form 2009. The planned mental health facility is set to begin construction in the spring with completion estimated for 2013.

On a comparative basis, the Minneapolis health care labor market remained solid during Q1 registering a Q41 LMPI score of 48.1, up 7% from the prior quarter but still slightly below the national composite of 51.5.



Q1 Workforce Announcements

HealthPartners’ Regions Hospital reviving $36M building. January 28, 2011
 For the second time in three months, a major Twin Cities health care construction project is coming off the shelf. Regions Hospital officials plan to spend $36 million on a mental health building at the hospital’s downtown St. Paul campus, a project Regions put on hold in December 2009, but decided to revive after Gov. Mark Dayton expanded Medicaid eligibility in the state. Hospital officials want to start construction in the spring, with the 100-bed facility opening by 2013.
http://www.bizjournals.com/twincities/print-edition/2011/01/28/regions-reviving-36m-building.html

Previous market news

Hospitals and Health Systems


Source: US News & World Report

Education Program Expansion and Closures

No notable education program expansion and closures announced 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 Minneapolis-St. Paul-Bloomington, MN-WI 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 Minneapolis-St. Paul-Bloomington, MN-WI 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 Minneapolis-St. Paul-Bloomington, MN-WI market.

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

Additional Factors Influencing HWS Labor Market PulseTM Index

  • U.S. Census Bureau Population 3,229,878, #16 largest market
  • U.S. Census Bureau Population #231 oldest market
  • U.S. Census Bureau Population Growth 8.8%, #158 fastest growing market
   

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