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Seattle-Bellevue-Everett, WA


Seattle-Bellevue-Everett, WA
Q3 2011 - Market Summary

After a strong previous quarter, the demand for health care workers in the Seattle metropolitan area fell off during Q3 of 20101. Of note were a possible 220 job cuts with the closure of Western State Hospital, and the announcement of Swedish Medical Center’s jobs cuts up to 300 people.

On a comparative basis, the Seattle health care labor market is now weaker than most other major metropolitan areas across the country. For Q3 of 2011, Philadelphia registered an LMPI score of 40.3, compared to the national composite index of 48.0, and down 36% from the prior quarter.



Q3 Workforce Announcements

Western State Hospital may release 150 patients to cut budget. September 27, 2011
Western State Hospital may have to release 150 patients in order to meet budget cuts. Under the proposal, the state psychiatric hospital located in Lakewood, Wash., would close down two units for elderly patients with dementia. The closures would allow the state to cut about 220 jobs.
http://www.king5.com/news/local/Western-State-Hospital-...

Swedish announces job cuts. September 19, 2011
Facing a $19 million budget gap, Seattle nonprofit health system Swedish said it’s making job cuts that could affect a total of 300 people, or 3 percent of its work force.
http://www.bizjournals.com/seattle/news/2011/09/19…
http://www.modernhealthcare.com/article/20110920/…
http://www.king5.com/news/Swedish-to-layoff-150-...

Previous market news

Hospitals and Health Systems

Source: US News & World Report

Education Program Expansion 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

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 Seattle-Bellevue-Everett 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 Seattle-Bellevue-Everett 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 Seattle-Bellevue-Everett market.

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

Additional Factors Influencing HWS Labor Market PulseTM Index

• U.S. Census Bureau Population 3,344,813, #15 largest market
• U.S. Census Bureau Population #168 oldest market
• U.S. Census Bureau Population Growth 9.9%, #139 fastest growing market


   

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