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Minneapolis-St. Paul-Bloomington, MN-WI

Minneapolis-St. Paul-Bloomington, MN-WI
Q2 2010 - Market Summary

The near-term demand for health care workers in the Twin Cities metropolitan area weakened slightly during the 2nd quarter of 2010 but the demand for health care workers in the area remains positive and the number of workers required to meet announced expansion plans will likely balance the number of announced positions eliminated or deferred.

Of particular note during the quarter is the closing or downsizing of state mental health facilities. The elimination of 72 mental health jobs was announced in late April. Also announced were the opening of new heart clinics by North Memorial Health Care and the Minneapolis Heart Institute.

On a comparative basis, the Twin Cities health care labor market remained sluggish during Q2, registering an LMPI score of 42.5, down 8% from the prior quarter, and compared to the national composite of 58.6, up 18% from the prior quarter.



Q2 Workforce Announcements

North Memorial plans heart clinic, boosting Maple Grove footprint. June 4, 2010
 North Memorial Health Care is expanding in Maple Grove, with plans to open a heart clinic. North Memorial is staffing the center with four cardiologists from its Heart & Vascular Institute, which presently operates three clinics in Robbinsdale, Monticello and Plymouth
http://twincities.bizjournals.com/twincities/stories/2010/06/07/story6.html

Minnesota starts mental health cuts, layoffs. April 28, 2010
Legislators turned testy with a state agency official Wednesday when they learned that the Pawlenty administration will eliminate the jobs of 72 mental health workers on Friday and close or downsize four mental health facilities — just as lawmakers are crafting laws to keep the services going.
http://www.startribune.com/politics/state/92370919.html?elr=KArks:DCiUBcy7hUiD3aPc:_Yyc:aUU

Mpls. Heart Institute expands with second clinic in Edina. April 2, 2010
Minneapolis Heart Institute is expanding its presence in Edina. The cardiology clinic will have four doctors rotating through, with one to two cardiologists on hand during its operating hours. The clinic also will have six staff, half of them registered nurses.
http://twincities.bizjournals.com/twincities/stories/2010/04/05/story5.html

Previous market news

Hospitals and Health Systems

Source: US News & World Report

Education Program Expansion and Closures

No notable program expansion and closures in Q2 2010.

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 6/28/2010

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 6/28/2010

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 6/28/2010

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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