Las Vegas-Paradise, NV
Las Vegas-Paradise, NV
Q3 2011 - Market Summary
The near-term demand for health care workers in the Las Vegas area dropped off notably during the third quarter, after a strong previous quarter. Of note, a local non-profit wants to build a clinic center for research and care of children with neuro genetic disorders.
On a comparative basis, Las Vegas health care labor market weakened during Q3 as measured by its Q3 LMPI score of 45.9, down 25% from the prior quarter and just below the national composite of 48.0
Q3 Workforce Announcements
Foundation plans clinic for children with neuro genetic disorders. September 19, 2011
A local non-profit wants to build a clinical center in Henderson that could make Southern Nevada a national hub for research and care of children with neuro genetic disorders. The Lili Claire Foundation has been based in Las Vegas for the past eight years and cares for children with neuro genetic disorders, including autism, Down Syndrome, Williams Syndrome and fetal alcohol syndrome. That clinic was designed based on older models of care, and the foundation plans to build a state-of-the-art clinic from scratch on a five-acre parcel near Nevada State College in southeast Henderson.
http://www.lasvegassun.com/news/2011/sep/19/foundation-plans-henderson-clinic-children/
Hospitals and Health Systems
Source: US News & World Report
Education Program Expansion and Closures
No notable education program expansions and closures announced during 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 Las Vegas-Paradise, NV 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 Las Vegas-Paradise, NV 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 Las Vegas-Paradise, NV market.
Source: www.bls.gov accessed 10/10/2011
Additional Factors Influencing HWS Labor Market PulseTM Index
- U.S. Census Bureau Population 1,865,746 #30 largest market
- U.S. Census Bureau Population #183 oldest market
- U.S. Census Bureau Population Growth 35.6%, #7 fastest growing market
- Executive Summary
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