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San Jose-Sunnyvale-Santa Clara, CA

San Jose-Sunnyvale-Santa Clara, CA
Q4 2010 - Market Summary



The near term demand for health care workers in the San Jose metropolitan area weakened during the fourth quarter of 2010 behind several notable layoff announcements. Of note, O’Connor Hospital announced cuts of 120 by February and Palo Alto Medical Foundation announced plans to lay off 53 in December and January.

On a comparative basis, the San Jose health care labor market was weaker than much of the rest of the country during Q4 as measured by its Q4 LMPI score of 38.7, down 28% from the prior quarter and compared to the national composite of 49.8.

Q4 Workforce Announcements



Health care jobs under the knife. December 17, 2010
 Health care hiring, an engine of Bay Area employment growth, has gone into reverse as area hospitals, clinics and other organizations are planning or have carried out roughly 2,300 job cuts. That trend could continue or gain momentum in the new year, as financial pressures on hospitals, doctors and insurers increase.
http://www.bizjournals.com/sanfrancisco/print-edition/2010/12/17/health-care-jobs-under-the-knife.html

California Hospital News Roundup for the Week. December 3, 2010
 Palo Alto Medical Foundation announced plans to lay off 50 employees on Dec. 15 and three additional employees on Jan. 3. The foundation attempted to avoid layoffs by reassigning workers to different jobs, eliminating vacant positions and offering employees a voluntary early exit program. Layoffs will not affect the foundation’s plans to build a hospital in San Carlos.
http://www.californiahealthline.org/articles/2010/12/3/california-hospital-news-roundup-for-the-week-of-december-3-2010.aspx?topic=hospitals

Seton Medical Center to close skilled-nursing unit. October 7, 2010
 Seton Medical Center will close its skilled-nursing unit because of the hospital’s ongoing budget woes. As a result of the closure, about 55 employees — including nurses, nursing aides, an assistant physical therapist and a clinical dietitian — stand to lose their jobs.
http://www.mercurynews.com/ci_16283420?source=most_emailed&nclick_check=1

Previous market news

Hospitals and Health Systems

Source: US News & World Report

Education Program Expansions and Closures

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

Education Programs

Source: The Integrated Postsecondary Education Data System

Health of the Local Economy

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 San Jose-Sunnyvale-Santa Clara, CA 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 San Jose-Sunnyvale-Santa Clara, CA market.

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

Additional Factors Influencing HWS Labor Market PulseTM Index

  • U.S. Census Bureau Population 1,819,198, #31 largest market
  • U.S. Census Bureau Population #244 oldest market
  • U.S. Census Bureau Population Growth 4.8%, #227 fastest growing market


   

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