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San Jose-Sunnyvale-Santa Clara, CA

San Jose-Sunnyvale-Santa Clara, CA
Q2 2010 - Market Summary

The near-term demand for health care workers in the San Jose metropolitan area continued to remain steady during the second quarter of 2010. Of note during the quarter, Regional Medical Center of San Jose unveiled its new office building, operating room, and larger ICU. The expansion features centralized nurse stations for streamlining the delivery of care. Also, the completion of two Stanford hospital construction projects have been further delayed until at least 2017.

On a comparative basis, the San Jose health care labor market remains steady relative to the rest of the country. Its HWS LMPI score of 47.3 for Q2 2010, up slightly from last quarter, is slightly below the national composite of 58.6 for the quarter.



Q2 Workforce Announcements

Regional Medical Center of San Jose shows off some of its $300 million face-lift. June 23, 2010
The Regional Medical Center is unveiling its first expansion and face-lift. There is a new office building for hospital staff, an open-heart operating room and an expanded intensive care unit. There are 77 larger, private patient rooms, and nurses will have centralized stations designed to help streamline delivery of care.
http://www.mercurynews.com/top-stories/ci_15362308?utm_source=twitterfeed&utm_medium=statusnet&nclick_check=1

Silicon Valley’s April unemployment up to 11.7%. May 21, 2010
Private health care expanded by 500 jobs, largely in hospitals (up by 300 jobs) in the last year.
http://sanjose.bizjournals.com/sanjose/stories/2010/05/17/...

Two Stanford hospitals face further delays. May 14, 2010
The two Stanford hospitals are unlikely to finish their huge construction projects until 2016 at the earliest, and likely will not be ready for prime time until 2017 - three years later than Stanford was hoping for as recently as early last year.
http://sanfrancisco.bizjournals.com/sanfrancisco/stories/2010...

Previous market news

Hospitals and Health Systems

Source: US News & World Report

Education Program Expansions and Closures

No notable education program changes during Q2 2010.

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 San Jose-Sunnyvale-Santa Clara, CA 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 San Jose-Sunnyvale-Santa Clara, CA market.

Source: www.bls.gov accessed 6/28/2010

Additional Factors Influencing HWS Labor Market PulseTM Index

  • U.S. Census Bureau Population 1,819,198, #31 largest market
  • U.S. Census Bureau Population #244 oldest market
  • U.S. Census Bureau Population Growth 4.8%, #227 fastest growing market
   

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