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ECO 205 labor_market_research

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Labor Market Research 1
Running head: LABOR MARKET RESEARCH
Labor Market Research
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College Name
Labor Market Research
The field of nursing all over the country is a growing market and one that will continue to
grow year after year. With this kind of trend, the wages for professionally trained nurses grow
hand in hand with the growing population. Why is there such a need for health care in New
Mexico and why is it a growing need? One reason is our growing population, since 1990 the
population has grown 31 percent and the State of New Mexico will reach the two million mark
by the year 2010 (Forehand. 2009).
With a raising population the need for more and more health care professionals is on the
rise as well. Forehand (2009) says “it is the characteristics of our population that result in higher
health care demands” (pg 16). The demand for more nurses is a direct result of the population.
More population means the need for more hospitals, nursing homes, cancer facilities, clinics and
anything that helps with the health care industry. Since the use for nurses is not limited to just
hospitals, they have a variety of openings available to them all over the state. So with the

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Labor Market Research 2
demand on the rise and the supply on the fall, the wages for nurses will be on the rise to attract
more nurses.
In 2002 there was an estimated 16,000 nurses in New Mexico with an average of six
percent of them unemployed. With so many vacant positions where nurses are needed one can
see why the competitive rate is going up. However, the state of New Mexico is one of the lowest
paying states around and this is one of the reasons why health care professionals seek out other
states after their graduations.
In order for the state to attract more nurses the need to raise their pay at least to the
national average is a must. As long as the pay for nurses is lower here than it is in other states we
will always have a shortage. For the new going nurses the lower pay is not very attractive,
however, for those few who have been in the industry for some time their pay is quite a bit
higher. The more experience one has in a field the more they will be offered if they apply
somewhere else. One way to bring in more applicants would be to raise the starting pay for the
beginning nurse.
The New Mexico Department of Workforce Solutions is full of all the information one
needs to find a good paying nurses job. Depending on the area in the state of New Mexico will
greatly reduce or increase ones pay in this field and since this site deals with the entire state one
can look at all areas. This state has the lowest per mile population average and the fewest large
cities, so finding an area of interest to do some job hunting is relatively simple.

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Running head: LABOR MARKET RESEARCH Labor Market Research Student Name College Name Labor Market Research The field of nursing all over the country is a growing market and one that will continue to grow year after year. With this kind of trend, the wages for professionally trained nurses grow hand in hand with the growing population. Why is there such a need for health care in New Mexico and why is it a growing need? One reason is our growing population, since 1990 the population has grown 31 percent and the State of New Mexico will reach the two million mark by the year 2010 (Forehand. 2009). With a raising population the need for more and more health care professionals is on the rise as well. Forehand (2009) says "it is the characteristics of our population that result in higher health care demands" (pg 16). The demand for more nurses is a direct result of the population. More po ...
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