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New York-Northern New Jersey–Long Island, NY

New York-Northern NJ-Long Island, NY
Q3 2010 - Market Summary

The near-term demand for health care workers in the New York metropolitan area during the third quarter of 2010 improved over last quarter despite continued layoffs. These layoffs included 59 the Health and Hospitals Corporation, over 500 at the Metropolitan Jewish Geriatric Center, nearly 200 St. Peter’s University Hospital, and 200 from New York-Presbyterian Hospital.

On a positive note, the Sloan-Kettering Hospital is opening a Brooklyn outpatient site, and the New York Hospital Queens opened its new West Wing expansion.

On a comparative basis, the New York health care labor market improved over the last couple of quarters. Its Q3 LMPI score was 38.5, up 100% from the prior quarter, but still well below the national composite of 50.62 for the quarter.



Q3 Workforce Announcements

North Shore-LIJ Receives Preliminary State Approval to Open Cardiac Surgery Program at Southside Hospital. September 30, 2010
The New York State Hospital Review and Planning Council today approved North Shore-LIJ Health System’s request to extend its open-heart surgery program to Southside Hospital in Bay Shore.
http://www.prnewswire.com/news-releases/north-shore-lij-receives...

59 Health and Hospitals Corporation workers slated to be laid off. September 15, 2010
HHC, struggling under the weight of increasing costs and decreasing funds, is in the midst of a massive restructuring program. Fifty-nine laborers who work for the New York City Health and Hospitals Corporation are slated to be laid off.
http://www.nydailynews.com/ny_local/queens/2010/09/15/2010-09-15_hhc_laborers_hold_breath_for_layoff.html
http://www.telegram.com/article/20100904/NEWS/9040333/-1...

Sloan-Kettering to open Brooklyn outpatient site. September 15, 2010
The Sloan-Kettering Hospital is slated to open its Brooklyn Infusion Center by the end of the September.
http://www.crainsnewyork.com/article/20100915/FREE/100919922

New York Hospital Queens Opens Its New West Wing; Media Invited to Tour. September 13, 2010
The new seven-floor building at New York Hospital Queens, known as the “West Wing,” has 190,000 square feet, and adds 80 certified patient beds, bringing the hospital’s total to 519. Major features include two state-of-the-art patient units, 40 beds each, with private and semi-private rooms, and a new ambulatory surgery center with 10 new operating rooms and 33 recovery beds.
http://www.prnewswire.com/news-releases/new-york-hospital-...

Brooklyn nursing home files big layoffs notice. September 1, 2010
Metropolitan Jewish Geriatric Center informed the state Department of Labor that it will be laying off 506 employees when it completes its sale to a for-profit nursing home company.
http://www.crainsnewyork.com/article/20100901/PULSE/100839952

Overstaffing, costs lead to 200 layoffs at Saint Peter’s University Hospital. August 4, 2010
Saint Peter’s University Hospital announced Wednesday it is laying off more than 150 employees because of high costs and the belief that the facility is overstaffed.
http://www.mycentraljersey.com/article/20100804/NEWS/100804029/...

Hospital mass layoffs hit Connecticut, Kentucky, Kansas, New York. Aug 4, 2010
Westchester Medical Center announced plans to lay off 130 staff members.
http://www.fiercehealthfinance.com/story/hospital-mass-layoffs...

New-York Presbyterian cuts jobs; Condé Nast names new president. July 25, 2010
New York-Presbyterian Hospital, one of New York’s most financially stable hospitals, cut 200 jobs from its work force of 19,000.
http://www.crainsnewyork.com/article/20100725/SUB/307259967

$114M expansion set for St. Mary’s kids hospital. July 22, 2010
After six years of planning, work on renovation of existing Queens facility and construction of new 90,000-square-foot pavilion groundbreaking is set for the fall.
http://www.crainsnewyork.com/article/20100722/REAL_ESTATE/...

New York Harlem’s North General Hospital Files for Bankruptcy Protection. July 2, 2010
North General Hospital, a community hospital based in New York’s Harlem neighborhood, filed for bankruptcy protection with plans to close.
http://www.bloomberg.com/news/2010-07-02/new-york-...

Previous market news

Hospitals and Health Systems

Source: US News & World Report

Education Program Expansion and Closures

No notable education expansions or closures during Q3 2010.

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 New York-Northern NJ-Long Island, NY 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 New York-Northern NJ-Long Island, NY 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 New York-Northern NJ-Long Island, NY market.

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

Additional Factors Influencing HWS Labor Market PulseTM Index

  • U.S. Census Bureau Population 19,006,798, #1 largest market
  • U.S. Census Bureau Population #137 oldest market
  • U.S. Census Bureau Population Growth 3.7%, #248 fastest growing market
   

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