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Chicago-Naperville-Joliet, IL

Chicago-Naperville-Joliet, IL
Q2 2011 - Market Summary

The near term demand for health care workers in the Chicago metropolitan area remained flat for the second quarter of 2011. Of note during the quarter, up to 1,100 Cook County health workers are facing layoffs, including the closure of Oak Forest Hospital.

On a comparative basis, the strength of the Chicago metropolitan area health care labor market remains steady but has not shown any signs of growth in several quarters. Its second quarter LMPI score of 45.5 equaled last quarter’s figure and remained below the national composite index of 49.9.



Q2 Workforce Announcements

Cook County files revised plan to shut Oak Forest Hospital. June 8, 2011
Cook County has quietly refiled its plans to shut Oak Forest Hospital - in a slightly tweaked form. And this time, it looks like the proposal will be approved by state regulators. Oak Forest Hospital still would be closed as a medical center and be converted into an out-patient clinic.
http://www.chicagobusiness.com/section/blogs?blogID=greg-hinz&plckController=Blog&plckBlogPage=BlogViewPost&uid=1daca073-2eab-468e-9f19-ec177090a35c&plckPostId=Blog:1daca073-2eab-468e-9f19-ec177090a35cPost:5c34e5a8-4a75-4e96-b9dd-d39ea4da4cce&plckScript=blogScript&plckElementId=blogDest

1,100 Cook County health workers face layoffs. May 31, 2011
While County Board President Toni Preckwinkle continues to push for the closure of Oak Forest Hospital, as many as 1,100 county health workers are facing layoffs, according to union officials. About 200 work at Oak Forest Hospital.
http://www.nwitimes.com/news/local/illinois/chicago/article_6af99ba5-db20-5181-9fea-4137184ff651.html

Previous market news

Hospitals & Health Systems

Source: US News & World Report

Education Program Expansion and Closures

No notable education program expansions and closures announced during Q2 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 Chicago-Naperville-Joliet market.

Source: http://www2.standardandpoors.com accessed 7/7/2011

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 Chicago-Naperville-Joliet market.

Source: www.census.gov accessed 7/7/2011

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 Chicago-Naperville-Joliet market.

Source: www.bls.gov accessed 7/7/2011

Additional Factors Influencing HWS Labor Market PulseTM Index

  • U.S. Census Bureau Population 9,569,624, #3 largest market
  • U.S. Census Bureau Population 246th oldest market
  • U.S. Census Bureau Population Growth 5.2%, #221 fastest growing market


   

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