The near term demand for health care workers in the Chicago metropolitan area remained flat for the third quarter of 2010. Of note during the quarter, the University of Chicago Medical Center plans to open a cancer center in the southwest suburbs, a major step in the hospital’s bid to expand its reach beyond the South Side.

Q3 Workforce Announcements

University of Chicago Hospitals plans cancer center near Joliet. August 16, 2010
University of Chicago Medical Center plans to open a cancer center in the southwest suburbs, a major step in the hospital’s bid to expand its reach beyond the South Side. U of C and Silver Cross Hospital are jointly investing in the cancer center, which would open in early 2012 if the state approves it.
http://www.chicagobusiness.com/article/20100814/ISSUE01/…

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Hospitals & Health Systems

Source: US News & World Report

Education Program Expansion and Closures

NU med school gets $45M bailout. September 20, 2010
Northwestern University’s deficit-running medical school is getting a $45-million bailout as it looks for more subsidies in the future.
http://www.chicagobusiness.com/article/20100920/NEWS03/...

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 Chicago-Naperville-Joliet market.

Source: http://www2.standardandpoors.com accessed 10/1/2010

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 Chicago-Naperville-Joliet market.

Source: www.census.gov accessed 10/1/2010

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 Chicago-Naperville-Joliet market.

Source: www.bls.gov accessed 10/1/2010

Additional Factors Influencing HWS Labor Market Pulse^TM Index

• U.S. Census Bureau Population 9,569,624, #3 largest market
• U.S. Census Bureau Population 246th oldest market
• U.S. Census Bureau Population Growth 5.2%, #221 fastest growing market