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Portland-Vancouver-Beaverton, OR-WA


Portland-Vancouver-Beaverton, OR
Q3 2011 - Market Summary

The near term demand for health care workers in the Portland metro area remained unchanged during the third quarter with relatively little news. Of note, a new report announces an expected nursing shortage in the next decade with large numbers of aging nurses.

On a comparative basis, the Portland health care labor market remained steady as measured by its Q3 LMPI score to 45.8, unchanged from Q2 and slightly lower than the national composite of 48.0.



Q3 Workforce Announcements

OHSU, FEI to launch new cell bio lab. September 13, 2011
One of the area’s leading tech companies will help Portland’s largest hospital develop a new cell biology laboratory. Hillsboro-based FEI Corp. and Oregon Health & Science University will create the OHSU/FEI Living Lab for Cell Biology. The facility will provide high-performance electron microscopes and other equipment to help researchers study such conditions as cancer and AIDS.
http://www.bizjournals.com/portland/news/2011/09/13/ohsu-fei-to-launch-new-cell-bio-lab.html

Oregon nursing shortage on the horizon. August 1, 2011
A new report reveals that one quarter of Oregon nurses plan to retire within 10 years. The report Oregon Health Professions: Occupational and County Profiles noted that while nurses are the state’s largest health care professional group, nearly two-thirds are older than 45 years old. Nurses outnumber doctors by a 3-1 count.
http://www.bizjournals.com/portland/news/2011/08/01/oregon-nursing-shortage-on-the-horizon.html

Previous market news

Hospitals and Health Systems

Source: US News & World Report

Education Program Expansion and Closures

No notable education program expansion or contraction announcements 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 Portland-Vancouver-Beaverton, OR-WA 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 Portland-Vancouver-Beaverton, OR-WA 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 Portland-Vancouver-Beaverton, OR-WA market.

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

Additional Factors Influencing HWS Labor Market PulseTM Index

  • U.S. Census Bureau Population 2,207,462, #23 largest market
  • U.S. Census Bureau Population #206 oldest market
  • U.S. Census Bureau Population Growth 14.5%, #79 fastest growing market


   

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