Labor Market Research

Labor Market Research - The state of Arkansas is...

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Labor Market Research 1 Labor Market Research Economic Theory ECO/205 June 14, 2009
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Labor Market Research 2 Labor Market Research Introduction The state of Arkansas is experiencing a shortage in the nursing market, and this shortage is expected to increase with the growing need for healthcare, and as the baby boomer age. The nursing universities and colleges in the United States are striving to increase the enrollment rate of the students studying nursing in an attempt to meet the high demand for nurses; however, this problem is becoming worse. Nursing Resource International (n.d.) stated, “In 2004, the U.S. Department of Health and Human Services (DHHS) projected that the U.S. nationwide nursing shortage will rise to 17.290y 2010; 26.610y 2015; and reach 36.000y 2020.” By 2020, the state of Arkansas has been projected to be the number one ranking state that has a shortage of nurses with “the highest projected shortage of 700y 2020” (Nursing Resource International, n.d.). In the south, where the “aging baby boomers” and “senior citizens” have relocated to, the nurse shortage has been increasing steadily in the past 25 years (Nursing Resource International, n.d.). Nursing Market Research Through tracking the age of nurses, the highest education level, and states, the model for nursing supply can create projections of the supply of the registered nurses by “state-level projections” yearly up to the year 2020 (Rosseter, 2007). Rosseter (2007) stated, “Starting with the number of licensed RNs in 2000, the nursing supply model adds the estimated number of newly licensed RNs, subtracts the estimated number of separations, and tracks cross-state migration patterns to calculate an end-of-year estimate of licensed RNs by state.” This “end-of- year” estimation can then be used to begin the projections for the following year (Rosseter, 2007). To obtain an estimation of the actively working registered nurses, and the number of “fulltime equivalent” registered nurses, who are employed in healthcare, the model provides a
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Labor Market Research 3 projection of the number of the licensed RNs, then the model will apply the “workforce
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This note was uploaded on 04/19/2010 for the course N/A ECO 205 taught by Professor N/a during the Summer '09 term at University of Phoenix.

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Labor Market Research - The state of Arkansas is...

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