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Philadelphia-Camden-Wilmington, PA, NJ, DE, MD

Philadelphia-Camden-Wilmington, PA, NJ, DE, MD
Q3 2010 - Market Summary

After three strong quarters, the demand for health care workers in the Philadelphia metropolitan area fell off slightly during Q3 of 2010. Of note were 25 nursing layoffs at Mercy Fitzgerald Hospital over the last few months. Also, the Montgomery Hospital laid off 26 workers, citing financial burdens.

On a comparative basis, the Philadelphia health care labor market is now slightly weaker than most other major metropolitan areas across the country. For Q3 of 2010, Philadelphia registered an LMPI score of 45.2, compared to the national composite index of 50.6, and down 33% from the prior quarter.



Q3 Workforce Announcements

Mercy Fitzgerald Hospital announces 25 nursing layoffs. September 18, 2010
Citing the dwindling number of patients during the past several months, Mercy Fitzgerald Hospital is issuing pink slips to 25 nurses.
http://delcotimes.com/articles/2010/09/18/news/doc4c942638af...

CHOP to build Karabots pediatric center in West Philadelphia. September 2, 2010
The Children’s Hospital of Philadelphia said that Nicholas and Athena Karabots will donate $7.5 million toward a new pediatric- and adolescent-care center, planned for West Philadelphia.
http://philadelphia.bizjournals.com/philadelphia/stories/2010/08/...

Hospital lays off workers. July 7, 2010
Montgomery Hospital laid off 26 workers last month, citing the financial burden of providing maternity services coupled with inadequate government payments for the poor and uninsured.
http://www.timesherald.com/articles/2010/07/07/news/doc4c35...

Previous market news

Hospitals and Health Systems

Source: US News & World Report

Education Programs Expansions and Closures

Stimulus funds for Phila. medical schools. September 17, 2010
Four Philadelphia medical schools are getting a combined $2.8 million in grants from the Department of Health and Human Services. Temple University, Thomas Jefferson University, the University of Pennsylvania, and the Philadelphia College of Osteopathic Medicine will get grants to cover costs for equipment, pre-doctoral and interdisciplinary training in primary care medicine, and pre- and post-doctoral training in a variety of medical specialties.
http://philadelphia.bizjournals.com/philadelphia/stories/2010/09/13/...

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 Philadelphia-Camden-Wilmington, PA, NJ, DE, MD 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 Philadelphia-Camden-Wilmington, PA, NJ, DE, MD market.

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

Additional Factors Influencing HWS Labor Market PulseTM Index

  • U.S. Census Bureau Population 5,838,471, 5th largest market
  • U.S. Census Bureau Population #110 oldest market
  • U.S. Census Bureau Population Growth 2.7%, 270th fastest growing market
   

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