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Portland-Vancouver-Beaverton, OR-WA

Portland-Vancouver-Beaverton, OR
Q1 2011 - Market Summary



The near term demand for health care workers in the Portland metropolitan area improved during the 1st quarter of 2011. Of note, Legacy Emmanuel’s $242 million expansion of Children’s Hospital continues on schedule and is slated to open in early 2012.

On a comparative basis, the strength of the Portland health care labor market, as measured by the HWS LMPI, increased during the quarter. Its Q1 LMPI score of 53.1, up 10% from the prior quarter, compared favorably with the national composite index of 51.5.



Q1 Workforce Announcements

Legacy Children’s Hospital on schedule. February 18, 2011
 Legacy Emanuel’s expansion of Children’s Hospital continues on schedule.
The new $242 million hospital is slated to open in early 2012. The new Legacy facility won’t greatly expand the system’s children’s care capacity. The current facility employs 145 pediatric physicians and surgical specialists.
http://www.bizjournals.com/portland/print-edition/2011/02/18/legacy-childrens-hospital-on-schedule.html

Hospital construction slows in 2011. February 18, 2011
Despite dramatic patient demand increases through the next decade, Portland-area hospitals are expected to launch few construction projects in 2011.
As a result, the region’s major health care capital projects will come from ongoing work such as Legacy Emanuel’s $242 million children’s hospital renovation and Kaiser Permanente’s $344 million Westside Medical Center.
http://www.bizjournals.com/portland/print-edition/2011/02/18/hospital-construction-slows-in-2011.html

PeaceHealth shops Vancouver real estate. January 6, 2011
Now that its acquisition of Southwest Washington Medical Center is approved, PeaceHealth is searching for space for its new headquarters and the 340 employees that will eventually work there.
http://www.bizjournals.com/portland/morning_call/2011/01/peacehealth-shops-vancouver-real-estate.html

Previous market news

Hospitals and Health Systems

Source: US News & World Report

Education Program Expansion and Closures

No notable education program expansion or contraction announcements 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 Portland-Vancouver-Beaverton, OR-WA 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 Portland-Vancouver-Beaverton, OR-WA 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 Portland-Vancouver-Beaverton, OR-WA market.

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

Additional Factors Influencing HWS Labor Market PulseTM Index

  • U.S. Census Bureau Population 2,207,462, #23 largest market
  • U.S. Census Bureau Population #206 oldest market
  • U.S. Census Bureau Population Growth 14.5%, #79 fastest growing market
   

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