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Philadelphia-Camden-Wilmington, PA, NJ, DE, MD

Philadelphia-Camden-Wilmington, PA, NJ, DE, MD
Q1 2011 - Market Summary



The near term demand for health care workers in the Philadelphia metro area continued to improve during the first quarter of 2011. Of note, Mercy Suburban announced plans to build a $8.5 million cancer center at its main campus, St. Luke’s Quakertown officially opened its new health and vascular center in Upper Bucks County, and 1500 jobs are projected to open at Jefferson Health System Inc. (421), Children’s Hospital of Philadelphia (412), Main Line Health (434) and University of Pennsylvania and Health System (278) in the first half of this year.

On a comparative basis, the strength of the Philadelphia metro health care labor market, as measured by the HWS LMPI, increased by 8% to 53.0 during Q1 and compared favorably to the national composite of 51.5.



Q1 Workforce Announcements

Mercy Suburban to build $8.5 million cancer center. March 11, 2011
 Mercy Suburban Hospital is getting ready to build a $8.5 million cancer center at its main campus that will replace a 23-year-old facility for cancer patients the central Montgomery County medical center operates in neighboring Norristown
http://www.bizjournals.com/philadelphia/print-edition/2011/03/11/mercy-suburban-to-build-85-million.html

St. Luke’s Quakertown opens heart-care center. February 14, 2011
St. Luke’s Quakertown Hospital officially opened its 6,200-square-foot heart and vascular center in Upper Bucks County.
http://www.bizjournals.com/philadelphia/blog/john-george/2011/02/st-lukes-quakertown-opens-heart-care.html

Find out who’s hiring this year. January 20, 2011
More than 1,500 jobs combined are projected to open at Jefferson Health System Inc. (421), Children’s Hospital of Philadelphia (412), Main Line Health (434) and University of Pennsylvania and Health System (278) in the first half of this year.
http://www.bizjournals.com/philadelphia/print-edition/2011/01/21/find-out-whos-hiring-this-year.html

Previous market news

Hospitals and Health Systems

Source: US News & World Report

Education Programs Expansions 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

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 Philadelphia-Camden-Wilmington, PA, NJ, DE, MD 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 Philadelphia-Camden-Wilmington, PA, NJ, DE, MD market.

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

Additional Factors Influencing HWS Labor Market PulseTM Index

  • U.S. Census Bureau Population 5,838,471, 5th largest market
  • U.S. Census Bureau Population #110 oldest market
  • U.S. Census Bureau Population Growth 2.7%, 270th fastest growing market
   

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