Miami-Fort Lauderdale-Miami Beach, FL
Miami-Fort Lauderdale-Miami Beach, FL
Q2 2011 - Market Summary
After a healthy quarter in Q1, the near-term demand for health care workers in the Miami metro area fell notably during Q2 despite a lack of meaningful news. On a comparative basis the strength of the Miami health care labor market, as measure by its Q2 LMPI score, dropped 29% to 45.8, slightly lower than the national composite of 49.9, down 3% from the prior quarter.
Q2 Workforce Announcements
No notable workforce announcements during Q2 2011.
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 Miami-Fort Lauderdale-Miami Beach 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 Miami-Fort Lauderdale-Miami Beach 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 Miami-Fort Lauderdale-Miami Beach market.
Source: www.bls.gov accessed 7/7/2011
Additional Factors Influencing HWS Labor Market PulseTM Index
- U.S. Census Bureau Population 5,414,772, #7 largest market
- U.S. Census Bureau Population #105 oldest market
- U.S. Census Bureau Population Growth 8.1%, #167 fastest growing market
- Executive Summary
- Atlanta-Sandy Springs-Marietta, GA
- Baltimore-Towson, MD
- Boston-Cambridge-Quincy, MA-NH
- Charlotte-Gastonia-Concord, NC-SC
- Chicago-Naperville-Joliet, IL
- Cleveland-Elyria-Mentor, OH
- Dallas-Fort Worth-Arlington, TX
- Denver-Aurora, CO
- Detroit-Warren-Livonia, MI
- Houston-Baytown-Sugar Land, TX
- Kansas City, MO-KS
- Las Vegas-Paradise, NV
- Los Angeles-Long Beach-Santa Ana, CA
- Miami-Fort Lauderdale-Miami Beach, FL
- Minneapolis-St. Paul-Bloomington, MN-WI
- New York-Northern New Jersey–Long Island, NY
- Orlando-Kissimmee, FL
- Philadelphia-Camden-Wilmington, PA, NJ, DE, MD
- Phoenix-Mesa-Scottsdale, AZ
- Pittsburgh, PA
- Portland-Vancouver-Beaverton, OR-WA
- Riverside-San Bernardino-Ontario, CA
- Sacramento-Arden-Arcade-Roseville, CA
- San Diego-Carlsbad-San Marcos, CA
- San Francisco-Oakland-Fremont, CA
- San Jose-Sunnyvale-Santa Clara, CA
- Seattle-Bellevue-Everett, WA
- St. Louis, MO-IL
- Tampa-St. Petersburg-Clearwater, FL
- Washington-Arlington-Alexandria, DC-VA-MD-WV