Tampa-St. Petersburg-Clearwater, FL
Tampa-St. Petersburg-Clearwater, FL
Q2 2011 - Market Summary
The near-term demand for health care workers in the Tampa St. Petersburg metro area continued to weaken during Q2. Of note during the quarter, the Florida Agency for Healthcare Administration recently awarded a three-year contract to eQHealth to conduct management services for the state’s $18 billion Medicaid program expected to lead to 135 new positions.
On a comparative basis, the strength of the Tampa health care labor market was weakened during Q2, registering a Q2 LMPI core of 47.5, down 19% from the prior quarter and below the national composite of 49.9.
Q2 Workforce Announcements
Wave of health care jobs reaching Tampa Bay. May 20, 2011
A staffing firm expects that new Tampa area, health care-related, information technology, specialist and coding jobs would number into the thousands over the next couple of years as we continue to ride the health care regulatory changes into 2013. For example, the Florida Agency for Healthcare Administration recently awarded a three-year contract to eQHealth to conduct management services for the state’s $18 billion Medicaid program. The company said it is hiring 135 positions.
http://www.bizjournals.com/tampabay/print-edition/2011/05/20/wave-of-health-care-jobs-reaching.html
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 Tampa-St. Petersburg-Clearwater, FL 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 Tampa-St. Petersburg-Clearwater, FL 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 Tampa-St. Petersburg-Clearwater market.
Source: www.bls.gov accessed 7/7/2011
Additional Factors Influencing HWS Labor Market PulseTM Index
- U.S. Census Bureau Population 2,733,761, #19 largest market
- U.S. Census Bureau Population #18 oldest market
- U.S. Census Bureau Population Growth 14.1%, #82 fastest growing market
- Executive Summary
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