Miami-Fort Lauderdale-Miami Beach, FL
Q4 2010 - Market Summary

The near term demand for health care workers in the Miami-Ft. Lauderdale area fell during Q4 but remained strong relative to much of the rest of the country. Of note, Miami Valley Hospital South announced the launch of a $51 million expansion that will nearly double its size by late 2012 and create up to 200 new jobs. Jupiter Medical Center is also nearly halfway toward its goal of raising $50 million to fuel a major expansion of its campus that will add 45 beds.

Q4 Workforce Announcements

Jupiter Medical Center to expand. December 3, 2010
Jupiter Medical Center is nearly halfway toward its goal of raising $50 million to fuel a major expansion of its campus. Adding 45 beds would increase capacity at Jupiter Medical Center by 26 percent.
http://www.bizjournals.com/southflorida/print-edition/2010/12/03/jupiter-medical-center-to-expand.html

Previous market news

Hospitals and 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 Miami-Fort Lauderdale-Miami Beach 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 Miami-Fort Lauderdale-Miami Beach 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 Miami-Fort Lauderdale-Miami Beach market.

Source: www.bls.gov accessed 1/5/2011

Additional Factors Influencing HWS Labor Market Pulse^TM Index

• U.S. Census Bureau Population 5,414,772, #7 largest market
• U.S. Census Bureau Population #105 oldest market
• U.S. Census Bureau Population Growth 8.1%, #167 fastest growing market