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Denver-Aurora, CO


Denver-Aurora, CO
Q3 2011 - Market Summary

The near-term demand for health care workers in the Denver metro area remained steady during Q3. Of note, Kaiser Permanente announced it would add 140 jobs with he opening of its Denver call center this fall, Colorado’s 15 community health centers announced a campaign to add 5,000 more jobs by 2014, and Centura Health accelerated plans for its Castle Rock campus and said it would begin building a 50-bed full-service hospital immediately. On a negative note, Exempla Lutheran announced it would 160 positions, or 6.5% of its workforce.

On a comparative basis, the Denver health care labor market held steady and inline with much of the rest of the country during Q3. Its Q3 LMPI score of 47.0 was up 3% from the prior quarter and just below the national composite of 48.0.



Q3 Workforce Announcements

Kaiser Permanente to add 140 Denver jobs at new call center. September 8, 2011
Kaiser Permanente said Thursday it plans to open a larger member-services call center in Denver this fall and expects to hire 140 for the new facility.
http://www.bizjournals.com/denver/news/2011/09/08/kaiser-permanente-to-add-140-denver.html

Colorado community health centers expect to add 5,000 jobs. August 10, 2011
Colorado’s 15 community health centers launched a joint campaign Wednesday to add 5,000 more jobs by 2014, with leaders saying the employment increase will be needed when 540,000 more state residents are expected to be insured upon implementation of the federal health care reform law.
http://www.bizjournals.com/denver/news/2011/08/10/colorado-community-health-centers.html

Centura Health building hospital in Castle Rock. July 29, 2011
Centura Health has accelerated plans for its Castle Rock campus and announced Friday it will begin building a 50-bed full-service hospital immediately.
http://www.bizjournals.com/denver/news/2011/07/29/centura-health-building-hospital-in.html

Exempla Lutheran to cut 160 jobs. July 27, 2011
Exempla Lutheran Medical Center in Wheat Ridge is cutting its staff by 160 positions - about 6.5 percent of its workforce - as a result of what hospital officials called “continued weakness in the economy and the impact of health reform.”
http://www.bizjournals.com/denver/news/2011/07/27/exempla-lutheran-to-cut-160-jobs.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 in Q3 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 Denver-Aurora, CO market.

Source: http://www2.standardandpoors.com accessed 10/10/2011

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 Denver-Aurora, CO market.

Source: www.census.gov accessed 10/10/2011

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 Denver-Aurora, CO market.

Source: www.bls.gov accessed 10/10/2011

Additional Factors Influencing HWS Labor Market PulseTM Index

  • U.S. Census Bureau Population 2,506,626, #21 largest market
  • U.S, Census Bureau Population 240th oldest market
  • U.S. Census Bureau Population Growth 15%, #74 fastest growing market


   

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