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Chicago-Naperville-Joliet, IL

Chicago-Naperville-Joliet, IL
Q4 2010 - Market Summary



The near term demand for health care workers in the Chicago metropolitan area slipped during the fourth quarter of 2010 after remaining relatively stable for much of the year. Of note during the quarter, an analysis released by the nurses union predicted that the Cook County health system’s 2011 budget would lead to 1000 job cuts including 114 nurses and 19 doctors to help close a $487M budget gap.

On a comparative basis, the strength of the Chicago health care labor market as measured by its Q4 LMPI score dropped to 39.4 from 45.8 the prior quarter, and remained weaker than much of the rest of the country as measured by the LMPI composite index of 49.80 for the quarter.

Q4 Workforce Announcements



ER at U. of C. turns away ambulances. December 12, 2010
As University of Chicago Medical Center struggles to unclog its emergency department, one statistic keeps pushing back. Because of overcrowding - a growing, nationwide problem - the hospital turns away ambulances more often than any other ER in Illinois.
http://www.suntimes.com/2801103-418/hospital-patients-care-health-ambulances.html

Staffs Worry About Shifts in County Health System. December 11, 2010
An analysis by the nurses union predicted that the Cook County health system’s 2011 budget would cut about 1,000 jobs, including 114 nurses and 19 doctors, to help close a $487 million countywide budget gap.
http://www.nytimes.com/2010/12/12/us/12cnchealth.html

Previous market news

Hospitals & Health Systems

Source: US News & World Report

Education Program Expansion and Closures

No notable education program expansions and closures announced during Q4 2010.

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 Chicago-Naperville-Joliet market.

Source: http://www2.standardandpoors.com accessed 1/5/2011

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 Chicago-Naperville-Joliet market.

Source: www.census.gov accessed 1/5/2011

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 Chicago-Naperville-Joliet market.

Source: www.bls.gov accessed 1/5/2011

Additional Factors Influencing HWS Labor Market PulseTM Index

  • U.S. Census Bureau Population 9,569,624, #3 largest market
  • U.S. Census Bureau Population 246th oldest market
  • U.S. Census Bureau Population Growth 5.2%, #221 fastest growing market

   

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