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Washington-Arlington-Alexandria, DC-VA-MD-WV

Washington-Arlington-Alexandria, DC-VA-MD-WV
Q2 2011 - Market Summary

The near-term demand for health care workers in the Washington D.C. metro area remained relatively flat during the second quarter despite an announcement by Washington Hospital that it would cut 200 jobs by July 1. Also of note during the quarter, Prince William Health announced plans to spend $97 million a renovation and expansion of its Manassas campus.

On a comparative basis, the strength of the Washington health care labor market remained slightly weaker than the national composite during the quarter. Its Q2 LMPI score of 45.1, down 3% from the prior quarter, was just under the national composite of 49.9, also down 3% from the prior quarter.


Q2 Workforce Announcements

Prince William Health charts $97M expansion. June 24, 2011
Prince William Health System is preparing to spend $97 million to renovate and expand its existing hospital campus in Manassas.
http://www.bizjournals.com/washington/print-edition/2011/06/24/prince-william-health-charts-97m.html

Washington Hospital Center laying off 200. April 27, 2011
Washington Hospital Center said it will cut 200 employees by the start of the new fiscal year July 1. The hospital will close one of its medical floors, eliminating an entire nursing unit.
http://www.bizjournals.com/washington/morning_call/2011/04/washington-hospital-center-laying-off.html
http://www.bizjournals.com/washington/news/2011/04/26/washington-hospital-center-laying-off.html

Previous market news

Hospitals and Health Systems

Source: US News & World Report

Education Program Expansion and Closures

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

Education Programs

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 Washington-Arlington-Alexandria, DC-VA-MD-WV 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 Washington-Arlington-Alexandria, DC-VA-MD-WV 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 Washington-Arlington-Alexandria, DC-VA-MD-WV market.

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

Additional Factors Influencing HWS Labor Market PulseTM Index

  • U.S. Census Bureau Population 5,358,130, #9 largest market
  • U.S Census Bureau Population #170 oldest market
  • U.S. Census Bureau Population Growth 11.7%, #105 fastest growing market


   

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