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HWS Labor Market Pulse Index Shows Rebound In U.S. Health Care Labor Markets in 4th Quarter
The Q4 HWS Labor Market Pulse® Index (LMPI), a quarterly barometer of local market healthcare workforce fluctuations released today, shows near-term demand for health care workers strongest in Dallas, Denver and Charlotte for 4th quarter of 2011.
Dallas, Denver and Charlotte are top three markets for Q4 2011; Miami, New York and Cleveland found to be weakest.
The Q4 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 Dallas, Denver and Charlotte for the fourth quarter of 2011. The Miami, New York and Cleveland markets ranked at the bottom of the 30 markets tracked.
Among the findings for the fourth quarter of 2011:
• The strength in the US health care labor markets as measured by the HWS Labor Market Pulse Index® (LMPI), a leading indicator of near-term demand, rebounded notably during the fourth quarter posting its highest value since the middle of 2010.
• The LMPI composite index, a representative basket of the 30 largest markets, posted a 6% increase in the fourth quarter of 2011, following consecutive 3% declines in the prior two quarters.
• For the 4th quarter ended 12/31/11, 15 markets of the 30 tracked by the LMPI showed signs of accelerated expansion (vs. 14 in the prior quarter).
“After an uneven six quarters we are cautiously optimistic that the current results bode well for US health care hiring activity through 2012, particularly as a number of large hospital expansion projects come on line, “ said David Cherner, Managing Partner of Health Workforce Solutions LLC, the company that publishes the HWS Labor Market Pulse® Index. He added, “a number of markets, notably in the West and Southeast, seem to be leading the recovery in health care hiring.”
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.
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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.