San Jose-Sunnyvale-Santa Clara, CA
San Jose-Sunnyvale-Santa Clara, CA
Q3 2011 - Market Summary
The near-term demand for health care workers in the San Jose area remained quiet during the third quarter of 2011 after a strong first half of the year. Of note, Kaiser Permanente, Redwood City announced that a need to rebuild its facility to comply with state seismic safety requirements.
On a comparative basis, the San Jose health care labor market underperformed much of the rest of the country during the third quarter registering a Q4 LMP score of 45.8 compared to the national composite of 48.0 and down 19% from the prior quarter.
Q3 Workforce Announcements
Kaiser Permanente-Redwood City to be replaced. August 19, 2011
The new hospital, which will replace Kaiser’s 42 year-old Redwood City facility, is being built to comply with state seismic safety requirements. It will have 149 rooms, 85% of which will be private. The hospital is expected to be completed in late 2014. Officials did not provide a cost estimate for the new hospital.
http://www.californiahealthline.org/articles/2011/8/19/california-hospital-news-roundup-for-the-week-of-august-19-2011.aspx?topic=hospitals#ixzz1aK03TnBW
Hospitals and Health Systems
Source: US News & World Report
Education Program Expansions and Closures
No notable education program expansions or closures announced during Q3 2011.
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 San Jose-Sunnyvale-Santa Clara, CA 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 San Jose-Sunnyvale-Santa Clara, CA market.
Source: www.bls.gov accessed 10/10/2011
Additional Factors Influencing HWS Labor Market PulseTM Index
- U.S. Census Bureau Population 1,819,198, #31 largest market
- U.S. Census Bureau Population #244 oldest market
- U.S. Census Bureau Population Growth 4.8%, #227 fastest growing market
- Executive Summary
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