Seattle-Bellevue-Everett, WA
Seattle-Bellevue-Everett, WA
Q4 2010 - Market Summary
The near term demand for health care workers in the Seattle metropolitan area weakened during the fourth quarter of 2010. Of note during the quarter, budgetary woes continued at Kitsap County Health District with the announcement of 16% cuts across the board in early 2011. Additional staff will be asked to cut back hours.
On a comparative basis, the strength of the Seattle health care labor market as measured by its Q4 LMPI score fell by 17% to 45.4, compared to the national composite of 49.8, down just 3% from the prior quarter.
Q4 Workforce Announcements
Kitsap Health District to Endure More Layoffs, Service Cuts. December 10, 2010
The years-long budgetary bloodletting continues at the Kitsap County Health District, with 16 percent of its workforce set to be cut next year. The just-announced staff cuts translate to 11 layoffs that will take place between January and March. Another eight staffers will have their hours reduced. In addition, two positions going empty with retirements will not be filled.
http://www.kitsapsun.com/news/2010/dec/10/health-district-to-endure-more-layoffs-service/
Hospitals and Health Systems
Source: US News & World Report
Education Program Expansion 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
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 Seattle-Bellevue-Everett 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 Seattle-Bellevue-Everett 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 Seattle-Bellevue-Everett market.
Source: www.bls.gov accessed 1/5/2011
Additional Factors Influencing HWS Labor Market PulseTM Index
• U.S. Census Bureau Population 3,344,813, #15 largest market
• U.S. Census Bureau Population #168 oldest market
• U.S. Census Bureau Population Growth 9.9%, #139 fastest growing market
- Executive Summary
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