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Dallas-Fort Worth-Arlington, TX

Dallas-Fort Worth-Arlington, TX
Q2 2011 - Market Summary

The near-term demand for health care workers in the Dallas-Fort Worth metro area held steady during the second quarter. Of note, the University of Texas Southwestern Medical Center started preconstruction work on an $800 million, 460-bed hospital that will create as many as 1,000 jobs when it opens in early 2015. Also of note, emergency services firm Emerus Hospital Partners LLC announced plans to add six to eight ER-style clinics in North Texas, bringing about 300 jobs and more than $60 million in investment to the region.

On a comparative basis the strength of the Dallas health care labor market remained relatively unchanged in Q2. Its Q2 LMPI score of 49.5, down 4% from the prior quarter, nearly matched the national composite of 49.9, down 3% from the prior quarter.



Q2 Workforce Announcements

Medicaid cuts could cause 5,100 job losses. May 16, 2011
A 10 percent rate reduction in Medicaid payments could cause 5,100 jobs to be lost and reduce sales tax revenue by more than $5 million in North Texas alone, according to the Dallas-Fort Worth Hospital Council.
http://www.bizjournals.com/dallas/news/2011/05/16/medicaid-cuts-could-cause-5100-job.html

Emerus adding North Texas locations, jobs. April 8, 2011
Emergency services firm Emerus Hospital Partners LLC has plans to add six to eight ER-style clinics in North Texas, bringing about 300 jobs and more than $60 million in investment to the region.
http://www.bizjournals.com/dallas/print-edition/2011/04/08/emerus-adding-north-texas-locations.html

Work under way for $800M hospital at UTSW. April 1, 2011
The University of Texas Southwestern Medical Center has started preconstruction work on an $800 million, 460-bed hospital that will create as many as 1,000 jobs when it opens in early 2015 and will attract top doctors and researchers to North Texas.
http://www.bizjournals.com/dallas/print-edition/2011/04/01/work-under-way-for-800m-hospital-at.html

Previous market news

Hospitals and 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 Dallas-Fort Worth-Arlington, TX 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 Dallas-Fort Worth-Arlington, TX 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 Dallas-Fort Worth-Arlington, TX market.

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

Additional Factors Influencing HWS Labor Market PulseTM Index

  • U.S. Census Bureau Population 6,300,006 #4 largest market
  • U.S. Census Bureau Population #304 oldest market
  • U.S. Census Bureau Population Growth 22.1%, #32 fastest growing market


   

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