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Portland-Vancouver-Beaverton, OR-WA

Portland-Vancouver-Beaverton, OR
Q4 2011 - Market Summary

The near-term demand for health care workers in the Portland market remained relatively flat during the fourth quarter of 2011. Of note, Legacy Health System announced that it may lay off 170 workers in January due to a reduction in Medicaid payments from the state of Oregon.

On a comparative basis, the Portland health care labor market remained weaker than much of the rest of the country and relatively unchanged from the prior quarter. Its Q4 LMPI score of 44.1 was down 4% from the prior quarter compared to the national composite of 52.9, up 6%.

Q4 Workforce Announcements

Legacy may cut at least 170 jobs. December 15, 2011
Legacy Health System may lay off 170 workers in January due to a reduction in Medicaid payments from the state of Oregon. Legacy, a nonprofit hospital organization, is one of the region’s largest private-sector employers, with more than 8,000 local workers.
http://www.bizjournals.com/portland/news/2011/12/15/legacy-may-cut-at-least-170-jobs.html

Previous market news

Hospitals and Health Systems

Source: US News & World Report

Education Program Expansion and Closures

George Fox adds physical therapy degree. October 7, 2011
Soon students who want to earn a degree in physical therapy in Oregon will have two schools to choose from.  In the fall of 2012, George Fox University in Newberg will roll out its Doctor of Physical Therapy program, joining Pacific University, which has offered physical therapy certificates and degrees since 1977.
http://www.bizjournals.com/portland/print-edition/2011/10/07/george-fox-adds-physical-therapy-degree.html

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 Portland-Vancouver-Beaverton, OR-WA market.

Source: http://www2.standardandpoors.com accessed 1/1/2012

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 Portland-Vancouver-Beaverton, OR-WA 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 Portland-Vancouver-Beaverton, OR-WA market.

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

Additional Factors Influencing HWS Labor Market PulseTM Index

  • U.S. Census Bureau Population 2,207,462, #23 largest market
  • U.S. Census Bureau Population #206 oldest market
  • U.S. Census Bureau Population Growth 14.5%, #79 fastest growing market
   

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