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Washington-Arlington-Alexandria, DC-VA-MD-WV


Washington-Arlington-Alexandria, DC-VA-MD-WV
Q3 2011 - Market Summary

The near-term demand for health care workers in the D.C. metro area declined slightly during Q3 during a relatively quiet quarter. Of note, St. Inova Health System plans to cut more than 600 workers as they outsource major services.

On a comparative basis, the strength of the D.C. health care labor market registered slightly weaker for the quarter and below much of the rest of the country. Its Q3 LMPI score is at 44.4, below the national composite of 48.0 down 2% from the second quarter.


Q3 Workforce Announcements

Inova cutting more than 600 jobs. September 30, 2011
Inova Health System plans to fire 606 workers as it outsources three major services, the nonprofit hospital network said Thursday. All but 10 of the affected workers will be able to keep their current positions and wages for the new employers, if they meet the companies’ employment standards.
http://www.bizjournals.com/washington/morning_call/2011/09/inova-cutting-more-than-600-jobs.html

Kaiser opening wing inside D.C. hospital. September 30, 2011
Washington Hospital Center will open a 33-bed wing on Oct. 3 dedicated to patients with Kaiser Permanente insurance coverage, part of an expanded partnership with the managed care giant.
http://www.bizjournals.com/washington/print-edition/2011/09/30/kaiser-opening-wing-inside-dc-hospital.html

Inova Hospital System lays off 117. September 2, 2011
Inova Hospital System has laid off 117 management personnel in a restructuring process that began Aug. 22.
http://www.bizjournals.com/washington/morning_call/2011/09/inova-hospital-system-lays-off-117.html

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

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 Washington-Arlington-Alexandria, DC-VA-MD-WV 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 Washington-Arlington-Alexandria, DC-VA-MD-WV 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 Washington-Arlington-Alexandria, DC-VA-MD-WV market.

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

Additional Factors Influencing HWS Labor Market PulseTM Index

  • U.S. Census Bureau Population 5,358,130, #9 largest market
  • U.S Census Bureau Population #170 oldest market
  • U.S. Census Bureau Population Growth 11.7%, #105 fastest growing market


   

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