Denver-Aurora, CO
Denver-Aurora, CO
Q2 2011 - Market Summary
The near-term demand for health care workers in the Denver metro area remained unchanged during Q2 during a relatively quiet quarter. Of note, St. Anthony Central Hospital moved its campus in Lakewood.
On a comparative basis, the strength of the Denver health care labor market remained unchanged for the quarter and inline with much of the rest of the country. Its Q2 LMPI score remained unchanged from the prior quarter at 45.8, just under the national composite of 49.9, down 3% from the first quarter.
Q2 Workforce Announcements
St. Anthony Central Hospital Emergency Department to Close Midnight, June 16
St. Anthony Central Hospital will move to its new campus in Lakewood, Colo., on Friday, June 17, and be fully open and operational on Monday, June 20. After serving the Denver area for 119 years, St. Anthony Hospital is proud to continue to offer its state-of-the-art, compassionate health care in a patient-focused and environmentally friendly new location.
http://www.bradenton.com/2011/06/16/3280721/st-anthony-central-hospital-emergency.html#ixzz1RcoKGqaB
Hospitals and Health Systems
Source: US News & World Report
Education Program Expansion and Closures
No notable education program expansions or closures in 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 Denver-Aurora, CO 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 Denver-Aurora, CO 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 Denver-Aurora, CO market.
Source: www.bls.gov accessed 7/7/2011
Additional Factors Influencing HWS Labor Market PulseTM Index
- U.S. Census Bureau Population 2,506,626, #21 largest market
- U.S, Census Bureau Population 240th oldest market
- U.S. Census Bureau Population Growth 15%, #74 fastest growing market
- Executive Summary
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