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Minneapolis-St. Paul-Bloomington, MN-WI


Minneapolis-St. Paul-Bloomington, MN-WI
Q3 2011 - Market Summary

The near term demand for health care workers in the Minneapolis-St. Paul metropolitan area improved slightly during the third quarter of 2011. Of note during the quarter, Centracare Health System expects to fill 1,000 positions a year, with no previous or expected layoffs. Also, Children’s Hospitals and Clinics of Minnesota opened its new PICU in St. Paul with 12 private patient rooms.

On a comparative basis, the Minneapolis-St. Paul health care labor market improved relative to Q2, registering a Q3 LMPI score of 45.8, up 6% from the prior quarter and slightly lower than the national composite of 48.0.



Q3 Workforce Announcements

Centracare Health System. August 19, 2011
Although CentraCare tries to maintain a small-company atmosphere, it isn’t downsizing anytime soon. The company fills about 1,000 positions a year, focusing on job security in a tough economy. No employees have been laid off as a result of the recession. CentraCare also is working on a $225 million expansion of its St. Cloud hospital campus. The addition will include new operating rooms, a women and children’s center and multiple intensive care units.
http://www.bizjournals.com/twincities/print-edition/2011/08/19/centracare-health-system.html?page=all

Children’s opens new pediatric intensive care unit. July 29, 2011
Children’s Hospitals and Clinics of Minnesota said it will open its new Children’s Hospital Association Pediatric Intensive Care Unit (PICU) in St. Paul to patients in early August. The 17,000-square-foot space features 12 private patient rooms with pull-out sofas, in-room refrigerators and private bathrooms.
http://www.bizjournals.com/twincities/news/2011/07/29/childrens-hosptials-opens-pediatric-icu.html

Previous market news

Hospitals and Health Systems


Source: US News & World Report

Education Program Expansion and Closures

No notable education program expansion and closures announced 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 Minneapolis-St. Paul-Bloomington, MN-WI 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 Minneapolis-St. Paul-Bloomington, MN-WI 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 Minneapolis-St. Paul-Bloomington, MN-WI market.

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

Additional Factors Influencing HWS Labor Market PulseTM Index

  • U.S. Census Bureau Population 3,229,878, #16 largest market
  • U.S. Census Bureau Population #231 oldest market
  • U.S. Census Bureau Population Growth 8.8%, #158 fastest growing market


   

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