Las Vegas-Paradise, NV
Las Vegas-Paradise, NV
Q4 2010 - Market Summary
The near term demand for health care workers in the Las Vegas area remained volatile in the fourth quarter of 2010 despite a lack of substantive news. Of note, the Summerlin Hospital Medical Center is set to expand a 10-room surgery wing that specializes in minimally invasive laparoscopic operations.
On a comparative basis the strength of the Las Vegas health care labor market weakened in Q4 after a significant gain the prior quarter. Its Q4 LMPI score of 52.6 was down 36% from Q3 but remained above the national composite of 49.8.
Q4 Workforce Announcements
Summerlin Hospital announces expansion of surgery wing. October 13, 2010
The Summerlin Hospital Medical Center is set to expand its 10-room surgery wing that specializes in minimally invasive laparoscopic operations.
http://www.lasvegassun.com/news/2010/oct/13/summerlin-hospital-announces-expansion-surgery-win/
Hospitals and Health Systems
Source: US News & World Report
Education Program Expansion and Closures
Why Nevada’s nurses quit. November 24, 2010
Newly hired nurses in Nevada used terms like “dangerous” and “unsafe” to describe the conditions in hospitals in a 2005 UNLV study. Many new nursing graduates in Nevada said they have been so concerned about understaffing and patient safety that they quit their jobs.
http://www.lasvegassun.com/news/2010/nov/14/why-nevadas-nurses-quit/
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 Las Vegas-Paradise, NV 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 Las Vegas-Paradise, NV 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 Las Vegas-Paradise, NV market.
Source: www.bls.gov accessed 1/5/2011
Additional Factors Influencing HWS Labor Market PulseTM Index
- U.S. Census Bureau Population 1,865,746 #30 largest market
- U.S. Census Bureau Population #183 oldest market
- U.S. Census Bureau Population Growth 35.6%, #7 fastest growing market
- Executive Summary
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