HEALTHCARE. January 2017 Healthcare INDUSTRY PROFILE. for Arapahoe & Douglas Counties Colorado WIOA Central Planning Region

Size: px

Start display at page:

Download "HEALTHCARE. January 2017 Healthcare INDUSTRY PROFILE. for Arapahoe & Douglas Counties Colorado WIOA Central Planning Region"

Stephen Copeland
5 years ago
Views:

1 January 2017 Healthcare INDUSTRY PROFILE for Arapahoe & Douglas Counties Colorado WIOA Central Planning Region

2 Background With 214,430 healthcare and wellness workers at 19,760 companies across the region, the industry is one of the fastest growing clusters in Metro Denver, recording 5.4 percent job growth in 2016, compared to 3.1 percent growth nationally. With a $11.4 billion annual payroll, the healthcare and wellness industry has a compelling economic impact within Metro Denver. The nine-county Metro Denver and Northern Colorado region1 is the healthcare and wellness center of the Rocky Mountain West. The vibrant healthcare and wellness industry has one of the most active and fittest populations in the nation. In fact, the region has one of the lowest rates of adult obesity, a high rate of physical activity, and low rates of diabetes and heart disease. Metro Denver is the third-fittest metropolitan area in the nation and Fort Collins and Boulder are among the nation s top metro areas for residents overall health and well-being. Outdoor recreation is a fundamental component to the region s healthy, active lifestyle. Metro Denver boasts the nation s largest public parks system, 11 world-class ski resorts within 100 miles, and more than 850 miles of paved off-road trails. The healthcare and wellness cluster includes a dynamic and growing group of companies that provide preventive, curative, and rehabilitative services offered by healthcare providers, medical and specialty hospitals, kidney dialysis centers, nutrition and weight loss facilities, fitness centers, medical spas and massage facilities, public health and education, and other healthcare and wellness organizations. Extending beyond healthcare delivery, the cluster represents a continuum of businesses ranging from treating disease to a multidimensional and holistic approach that focuses on complete physical and mental health, social well-being, and disease prevention. The region s healthcare and wellness industry is resilient to economic cycles, with employment increasing every year since With an employment base of 214,430 workers in 19,760 companies, the healthcare and wellness cluster is the region s largest cluster in terms of employment. Healthcare and wellness companies employed 9.6 percent of the region s total employment base in 2016 and total payroll in the industry exceeded $11.4 billion. Source: Metro Denver Economic Development Corporation Rankings Business Insider ranked Colorado s economy the third best in the country, based on recent change in housing prices, nonfarm payroll growth, unemployment rate, GDP per capita, average weekly wage, and state government surplus and deficit. Forbes ranked Metro Denver sixth of fastest growing cities in Factors that earned us this standing included our 4 percent unemployment rate 2.66 percent job growth rate. According to Money magazine, Denver is the best city to live in the West. The ranking called Metro Denver a mecca for millennials and that the city has relatively affordable real estate and great access to recreation. WalletHub ranked three Metro Denver cities among the best in the country for first-time home buyers: Centennial ranked third, Longmont ranked ninth, and Thornton ranked 10th.

Employment Concentrations This map show where the highest concentration of employment are in the healthcare sector, by county, within the Central Planning Region.

3 Employment Concentrations This map show where the highest concentration of employment are in the healthcare sector, by county, within the Central Planning Region. Top Employment Concentrations by County County 2016 Jobs Business Establishments National Location Quotient Denver County, CO 43,883 1, Arapahoe County, CO 36,459 1, Jefferson County, CO 25,180 1, Adams County, CO 24, Boulder County, CO 18,471 1, Larimer County, CO 15, Douglas County, CO 10, Broomfield County, CO 1, Clear Creek County, CO Gilpin County, CO Source: EMSI QCEW Employees, Non-QCEW Employees & Self-Employed Class of Worker 2

4 Competitive Analysis This table shows employment within the Colorado Central Planning Region in the top 20 occupations in the sector. Regional wage ranges and the median wage are shown, with yellowed cells indicating where wage offers may have to fall to attract and retain qualified candidates based on labor supply (applicants per job opening). SOC Annual Code Description Openings Licensed Practical & Licensed Vocational 2,880 3, Nurses Physical Therapists Total Number Jobs (in industry) 2,971 Total Number Jobs (across industries) 3, Available Applicants Registered Nurses 28,367 32,924 1, Health Technologists & ,068 2, Technicians, All Other Radiologic Technologists 2,171 2, Dental Hygienists 3,645 3, Applicants Per Job Openings Median 10th Percentile 25th Percentile Average 75th Percentile 90th Percentile 0.14 $23.71 $18.81 $20.57 $23.17 $26.52 $ $36.23 $25.89 $30.28 $35.33 $41.57 $ $34.43 $24.92 $28.40 $33.90 $39.89 $ $22.65 $13.55 $15.82 $19.51 $26.09 $ $30.83 $20.82 $24.74 $30.24 $36.72 $ $38.78 $30.80 $35.33 $40.33 $44.49 $ Mental Health Counselors 2,328 3, $22.25 $13.19 $15.51 $20.47 $27.34 $ Home Heath Aides 6,667 11, $12.91 $9.19 $10.23 $11.84 $14.55 $17.80 Receptionist & ,981 14, $15.19 $9.84 $12.01 $14.58 $17.71 $21.67 Information Clerks Medical Secretaries 4,837 5, $18.03 $12.34 $14.97 $17.50 $21.17 $ Medical Assistants 6,070 6, Personal Care Aides 4,516 18, Food Servers, ,377 5, Nonrestaurant Office Clerks, General 2,614 31,667 1, $16.68 $12.61 $14.20 $16.46 $18.69 $ $10.37 $8.72 $9.45 $10.28 $11.14 $ $11.12 $8.63 $9.19 $10.55 $12.38 $ $18.71 $10.29 $13.30 $17.38 $23.01 $ Nursing Assistants 10,884 12, $14.84 $11.46 $12.69 $14.43 $16.80 $ Dental Assistants 3,932 4, First-Line Supervisors of Office & Administrative Support Workers 1,877 15, Massage Therapists 2,397 5, Medical & Health ,361 2, Services Managers Secretaries & Admin Assistant, Except Legal, 3,105 42,821 1,055 1,071 Medical & Executive 0.62 $19.92 $13.70 $16.02 $18.81 $23.10 $ $28.78 $16.26 $21.44 $27.38 $34.55 $ $19.34 $9.66 $11.70 $18.67 $24.98 $ $55.75 $32.24 $39.74 $51.92 $65.33 $ $18.22 $11.65 $14.37 $17.78 $22.00 $26.10 Source: EMSI QCEW Employees, Non-QCEW Employees & Self-Employed Class of Worker 4

Industry Growth This table shows projected yearly job growth through 2020.

For example, with a Location Quotient of 2.66, you would read, employment is 2.66 times more concentrated in the Colorado Central Planning Region than the national average. 120,000 3.

5 Industry Growth This table shows projected yearly job growth through The National Location Quotient shows the relative concentration of employment in this industry in the Colorado Central Planning Region versus the national average. For example, with a Location Quotient of 2.66, you would read, employment is 2.66 times more concentrated in the Colorado Central Planning Region than the national average. 120, ,000 80,000 60, ,793 92, ,000 20, ,399 45,932 27,887 32,166 11,371 12,854 4,322 4, Jobs 2021 Jobs Ambulatory Health Care Services Hospitals Nursing and Residential Care Facilities Hospitals (State Government) Hospitals (Local Government) National Location Quotient Source: EMSI QCEW Employees, Non-QCEW Employees & Self-Employed Class of Worker

6 Difficult to Hire This chart shows the relationship between the number of job listings versus the number of hires for each of the top occupations in the sector. If there are more listings than hires, it suggests that there are not enough qualified people to fill all the jobs. If there are more hires than listings, it suggests there may be too many qualified people to fill too few jobs. Difficulty to Hire Very Easy Easy Medium Difficult Very Difficult Occupation (SOC) Avg Monthly Postings Avg Monthly Hires Hires Per Listing Office Clerks, General 260 2, Dental Hygienists Massage Therapists Food Servers, Nonrestaurant Personal Care Aides 299 1, Home Health Aides Receptionists & Information Clerks Dental Assistants Secretaries & Administrative Assistants, Except Legal, Medical & Executive 1,053 2, Mental Health Counselors Nursing Assistants Medical Assistants Licensed Practical & Licensed Vocational Nurses Health Technologists & Technicians, All Other Physical Therapists Medical Secretaries Radiologic Technologists First-Line Supervisors of Office & Administrative Support 1, Registered Nurses 4,839 1, Medical & Health Service Managers

7 Top Jobs Top Jobs Currently Listed in the Central Planning Region, Last 120 Days Registered Nurses ,429 3,422 Nursing Assistants Medical & Healthcare Services Managers Preschool Teachers, Except Special Education Medical Secretaries Medical Assistants Surgical Technologists Licensed Practical & Licensed Vocational Nurses Critical Care Nurses Radiologic Technologist Social & Human Services Assistants Mental Health & Substance Abuse Social Workers Physical Therapists Home Health Aides First-Line Supervisors of Office & Administrative Support Workers Occupational Therapists Source: Wanted Analytics Medical Records & Health Information Technicians Family & General Practitioners Personal Care Aides Physician Assistants

8 Training Pipeline Here are the top 20 jobs in the industry, by number employed and educational attainment level. Less than high school Home Health Aides SOC Code: Jobs: 11,010 Annual Openings: 743 Regional Completions: 20 Completers/Opening: 0.03 Food Servers, Nonrestaurant SOC Code: Jobs: 5,225 Annual Openings: 222 Regional Completions: 0 Completers/Opening: 0.00 Personal Care Aides SOC Code: Jobs: 18,868 Annual Openings: 933 Regional Completions: 38 Completers/Opening: 0.04 High School or equivalent Health Technologists & Technicians, All Other SOC Code: Jobs: 2,293 Annual Openings: 94 Regional Completions: 93 Completers/Opening: 0.99 First-Line Supervisors of Office & Administrative Support Workers SOC Code: Jobs: 15,310 Annual Openings: 578 Regional Completions: 145 Completers/Opening: 0.25 Receptionists & Information Clerks SOC Code: Jobs: 14,332 Annual Openings: 720 Regional Completions: 0 Completers/Opening: 0.00 Medical Secretaries SOC Code: Jobs: 5,295 Annual Openings: 254 Regional Completions: 252 Completers/Opening: 0.99 Secretaries & Administrative Assistants, Except Legal, Medical & Executive SOC Code: Jobs: 42,821 Annual Openings: 1,055 Regional Completions: 45 Completers/Opening: 0.04 Office Clerks, General SOC Code: Jobs: 31,667 Annual Openings: 1,351 Regional Completions: 0 Completers/Opening: 0.00 Postsecondary non-degree Licensed Practical & Vocational Nurses SOC Code: Jobs: 3,694 Annual Openings: 273 Regional Completions: 113 Completers/Opening: 0.41 Nursing Assistants SOC Code: Jobs: 12,437 Annual Openings: 678 Regional Completions: 1,149 Completers/Opening: 1.69 Nursing Assistants SOC Code: Jobs: 12,437 Annual Openings: 678 Regional Completions: 1,149 Completers/Opening: 1.69 Massage Therapists SOC Code: Jobs: 5,075 Annual Openings: 241 Regional Completions: 690 Completers/Opening: 2.86 Dental Assistants SOC Code: Jobs: 4,162 Annual Openings: 214 Regional Completions: 432 Completers/Opening: 2.01 Medical Assistants SOC Code: Jobs: 6,509 Annual Openings: 398 Regional Completions: 1,286 Completers/Opening: 3.23 Associate s Degree Dental Hygienists SOC Code: Jobs: 3,718 Annual Openings: 140 Regional Completions: 98 Completers/Opening: 0.70 Radiologic Technologists SOC Code: Jobs: 2,282 Annual Openings: 89 Regional Completions: 123 Completers/Opening: 1.38 Bachelor s Degree Medical & Health Services Managers SOC Code: Jobs: 2,960 Annual Openings: 177 Regional Completions: 2,050 Completers/Opening: Registered Nurses SOC Code: Jobs: 32,924 Annual Openings: 1,693 Regional Completions: 1,968 Completers/Opening: 1.16 Masters Degree Mental Health Counselors SOC Code: Jobs: 3,562 Annual Openings: 162 Regional Completions: 211 Completers/Opening: 1.31 Doctoral or Professional Degree Physical Therapists SOC Code: Jobs: 3,234 Annual Openings: 221 Regional Completions: 157 Completers/Opening: 0.71 Source: IPEDS Data Compiled by EMSI

9 Top Ten Below are the top five core skills, workplace skills, certifications and companies in the healthcare industry. Core Skills 1 Oral & Written Communication 2 Integrity 3 Problem Solving 4 Organizational 5 Critical Thinking Workplace Skills 1 Pediatrics 2 Critical Care 3 Geriatrics 4 Quality Assurance (QA) 5 Ambulatory Surgery Certifications 1 Certified Registered Nurse (RN) 2 Basic Life Support (BLS) 3 Advanced Cardiac Life Support (ACLS) 4 Cardiopulmonary Resuscitation (CPR) 5 Pediatric Advanced Life Support (PALS) Companies 1 HCA - The Healthcare Company 2 Centura Health 3 Swedish Medical Center 4 Denver Health 5 The Medical Center of Aurora Source: Wanted Analytics

10 Age Bands & Age Bands It is helpful to know the age bands in a sector, because if there is a substantial percentage of people above 55 years old, it means there will be opportunity as retirements happen. Based on Age Distribution, Arapahoe/Douglas Works! has developed a way to measure the age gap in an industry by comparing the number of workers over age 45 to the number under age 34. Age gap is shown both as a percentage and a count % % % % % % % Source: EMSI QCEW, Non-QCEW & Self-Employed Listing This graph shows the week over week volume of listings in the central planning region. 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1,000 0 Source: Wanted Analytics 10

11 Scan code to view report online

BROADBAND. January Broadband INDUSTRY PROFILE. for Arapahoe & Douglas Counties Colorado WIOA Central Planning Region

BROADBAND. January Broadband INDUSTRY PROFILE. for Arapahoe & Douglas Counties Colorado WIOA Central Planning Region BROADBAND January 16 Broadband INDUSTRY PROFILE for Arapahoe & Douglas Counties Colorado WIOA Central Planning Region BROADBAND The broadcasting and telecommunications cluster includes companies that help