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San Jose-Sunnyvale-Santa Clara, CA

San Jose-Sunnyvale-Santa Clara, CA
Q2 2011 - Market Summary

The near-term demand for health care workers in the San Jose metro area continued to improve during the second quarter. Of note, Stanford Hospital & Clinics and Lucile Packard Children’s Hospital plan to expand the hospitals by 1.3 million square feet that would add 144 new beds at Stanford and 104 new beds at Lucile Packard. Other local expansion projects already underway include those at Camino Hospital, Regional Medical Center of San Jose, Good Samaritan Hospital, Community Hospital of Los Gatos, and O’Connor Hospital.

On a comparative basis the San Jose health care labor market remained stronger than much of the country during the second quarter. Its Q2 LMPI score of 56.3, up 6% from the prior quarter, compared favorably to the national composite of 49.9.



Q2 Workforce Announcements

California Hospital News Roundup for the Week of May 13, 2011
Stanford Hospital & Clinics and Lucile Packard Children’s Hospital will expand the hospitals by 1.3 million square feet and would add 144 new beds at Stanford and 104 new beds at Lucile Packard. The expansion also will include new diagnostic, operating and treatment rooms at both hospitals. The expansion project is scheduled to come before the Palo Alto city council for final approval on June 6.
http://www.californiahealthline.org/articles/2011/5/13/california-hospital-news-roundup-for-the-week-of-may-13-2011.aspx?topic=hospitals#ixzz1RZcoJSwr

Hospitals keep on building in Silicon Valley. April 5, 2011
Silicon Valley is showing little evidence of the slowdown in hospital construction reported in other parts of the Golden State. With the exception of Sutter Health’s plan for a hospital in San Carlos, millions of dollars in projects are going full-steam ahead. A California Hospital Association study shows 41 percent of the state’s hospitals have halted planned construction or major equipment purchases. One-fourth reportedly have been unable to secure financing for projects.
There are projects underway at Stanford Hospital and Clinics, El Camino Hospital, Regional Medical Center of San Jose, Good Samaritan Hospital, Community Hospital of Los Gatos, and O’Connor Hospital.
http://www.bizjournals.com/sanjose/stories/2009/04/06/story2.html

Previous market news

Hospitals and Health Systems

Source: US News & World Report

Education Program Expansions and Closures

No notable education program expansions or closures announced during Q2 2011.

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 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 San Jose-Sunnyvale-Santa Clara, CA market.

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

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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