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Orlando-Kissimmee, FL

Orlando-Kissimmee, FL
Q4 2011 - Market Summary

The near-term demand for health care workers in the Orlando area improved during Q4. Of note, several hospitals have large projects underway that will add considerably to the local health care workforce including Florida Hospital’s Health Village that will create 800 new jobs, and Orlando Health’s campus expansions that will add 8,000 new jobs.

On a comparative basis, the Orlando health care labor market remained strong during the quarter, posting a Q4 LMPI score of 52.7, up 11% from the prior quarter and inline with the national composite of 52.9.

Q4 Workforce Announcements

State OKs 13 rehab beds at Central Florida Regional Hospital. December 30, 2011
The Florida Agency for Health Care Administration in a decision published Dec. 22 approved Central Florida Regional Hospital Inc.’s plans to convert 13 beds to comprehensive medical rehab beds, a $4.2 million project. The project includes a 10,291-square-foot, $2.4 million buildout, as well as the addition of 38 full-time jobs.
http://www.bizjournals.com/orlando/print-edition/2011/12/30/state-oks-13-rehab-beds-at-central.html

Healthy employment growth on tap at hospitals. December 2, 2011
The downtown health care and social assistance industry has witnessed a decade-long growth of 170 percent, to 7,442 workers, and will continue to increase with new projects from the local hospital systems. For example, both Florida Hospital and Orlando Health are under way on two projects that will reshape their downtown offerings.
Florida Hospital’s Health Village, an $810 million project that will include a five-story, 150,000-square-foot bioscience office building and a 52,000-square-foot research facility, will create more than 800 jobs. Meanwhile, Orlando Health officials expect to add upwards of 8,000 new jobs including downtown workers via campus expansions that would be anchored on the future 61-mile SunRail commuter rail system.
http://www.bizjournals.com/orlando/print-edition/2011/12/02/healthy-employment-growth-hospitals.html

Hospital, college offer robot-assisted surgery training. November 7, 2011
Winter Haven Hospital and Polk State College will train nurses and technicians to work in robot-assisted surgery. The training will offer participants a professional credential.
http://www.bizjournals.com/orlando/news/2011/11/07/hospital-college-robot-surgery-training.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 2011.

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 Orlando-Kissimmee, FL market.

Source: www.census.gov accessed 1/1/2012

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 Orlando-Kissimmee, FL market.

Source: www.bls.gov accessed 1/1/2012

Additional Factors Influencing HWS Labor Market PulseTM Index

  • U.S. Census Bureau Population 2,054,574, #27 largest market
  • U.S. Census Bureau Population #177 oldest market
  • U.S. Census Bureau Population Growth 24.9%, #26 fastest growing market
   

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