HWS Labor Market Pulse Index Shows Continued Weakness In U.S. Health Care Labor Markets

HWS Labor Market Pulse Index shows continued weakness in the U.S. Health Care Labor markets during third quarter; Sacramento, Miami and Detroit are top three markets for Q3 2011; New York, Seattle and Cleveland found to be weakest.
 
Oct. 18, 2011 - PRLog -- San Francisco, CA October 18, 2011  – The Q3 HWS Labor Market Pulse® Index (LMPI), a quarterly barometer of local market healthcare workforce fluctuations released today, shows the near-term demand for health care workers the strongest in Sacramento, Miami and Detroit for the third quarter of 2011.  The New York, Seattle and Cleveland markets ranked at the bottom of the 30 markets tracked.  

Among the findings for the third quarter of 2011:

•   The strength of the US health care labor markets showed continued sluggishness in the third quarter as measured by the HWS Labor Market Pulse Index® (LMPI), a leading indicator of near-term demand.

•   The LMPI composite index, a representative basket of the 30 largest markets, posted a 3% decline in the third quarter of 2011, after a similar 3% decline from Q1 to Q2.

•   For the 3nd quarter ended 9/30/11, 14 markets of the 30 tracked by the LMPI showed signs of accelerated expansion (vs. 9 in the prior quarter).

“These are disappointing results for the second consecutive quarter, particularly given where we thought the health care labor markets would be by this time this year,” said David Cherner, Managing Partner of Health Workforce Solutions LLC, the company that publishes the HWS Labor Market Pulse® Index. “On a positive note, despite the overall decline in the Index, we did see more markets turn positive this quarter, perhaps as a sliver of hope for the end of the year.”  

In response to demands for local workforce data that provides actionable information, HWS launched Labor Market Pulse® in 2008, a first of-its-kind, centralized and local workforce planning tool for health care employers in a number of key major markets.  

The launch of the HWS Labor Market Pulse® Index (LMPI) in 2009 expanded the footprint of Labor Market Pulse into 30 markets and now enables meaningful comparison, by tracking elements including temporary health workforce shortages and surpluses, facility and bed closures, announced layoffs and expansions, and local economic trends.  Going forward, the HWS LMPI will be expanded to 60 markets and continue to be tracked on a quarterly basis both individually and in composite indices.

For more information on the HWS Labor Market Pulse® Index, visit www.healthws.com or call 1-877-892-2430 x805.


About Health Workforce Solutions LLC (HWS)
Health Workforce Solutions LLC (HWS) is a leading research and advisory firm focused on workforce issues in health care.  Founded in 2004, the clients of HWS include hospitals and health systems, health plans, professional practice groups and associations, educational and training institutions, foundations and government agencies.   For more information, visit www.healthws.com or call 1-877-892-2430 x805.

About the HWS Labor Market Pulse® Index (LMPI)
The HWS Labor Market Pulse® Index (LMPI) provides a quarterly barometer of local market healthcare workforce expansion and contraction.  Patterned loosely after the Case-Shiller home index, the LMPI identifies and enables comparison of 30 health care labor markets by tracking elements including temporary health workforce shortages and surpluses, facility and bed closures, announced layoffs and expansions, and local economic trends.  The LMPI is published quarterly as part of Labor Market Pulse® and distributed nationally to health care executives, the media and other interested parties. For more information, visit www.labormarketpulse.com.
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