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Philadelphia-Camden-Wilmington, PA, NJ, DE, MD

Philadelphia-Camden-Wilmington, PA, NJ, DE, MD
Q4 2011 - Market Summary

The near-term demand for health care workers in the Philadelphia metro area held steady during Q4. Of note, Children’s Hospital of Philadelphia is spending $150 million preparing part of the old Civic Center site for an outpatient-care center and five-story underground parking garage, and the Lourdes Specialty Hospital of Southern New Jersey announced that it will add 100 jobs as it expands from a 30-bed to a 69-bed long-term acute-care facility next spring.

On a comparative basis, the strength of the Philadelphia area health care labor market remained below the national composite. Its Q4 LMPI score of 46.3, down 1% from the prior quarter remained below the national composite of 52.9, up 6% from Q3.

Q4 Workforce Announcements

CHOP begins big dig. December 16, 2011
The biggest excavation project in Philadelphia history is taking place in West Philadelphia.
The Children’s Hospital of Philadelphia is spending $150 million preparing part of the old Civic Center site for an outpatient-care center that will sit on top of a five-story underground parking garage.
http://www.bizjournals.com/philadelphia/print-edition...

Lourdes Specialty Hospital expands, adding 100 jobs. November 8, 2011
The Lourdes Specialty Hospital of Southern New Jersey will add 100 jobs as it expands from a 30-bed to a 69-bed long-term acute-care facility next spring.
The hospital will hire extra nurses, technicians and administrative personnel to join the 127 employees and 270 physicians now on staff.
http://www.phillyburbs.com/news/local/burlington_county_…
http://www.bizjournals.com/philadelphia/news/2011/11/...

Lower Bucks Hospital lays off nine employees. October 5, 2011
Lower Bucks Hospital has laid off nine employees, though the hospital’s CEO said the decision is not related to the hospital’s efforts to emerge from bankruptcy. CEO and President Albert Mezzaroba confirmed the layoffs, which involve seven full-time equivalent positions including one nurse, the first since 2008.
No further layoffs are planned, he said, and the latest ones will not impact patient care.
http://www.phillyburbs.com/news/local/courier_times_...

Previous market news

Hospitals and Health Systems

Source: US News & World Report

Education Programs Expansions 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 Philadelphia-Camden-Wilmington, PA, NJ, DE, MD 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 Philadelphia-Camden-Wilmington, PA, NJ, DE, MD market.

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

Additional Factors Influencing HWS Labor Market PulseTM Index

  • U.S. Census Bureau Population 5,838,471, 5th largest market
  • U.S. Census Bureau Population #110 oldest market
  • U.S. Census Bureau Population Growth 2.7%, 270th fastest growing market
   

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