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Demand and Supply of Nurses in New South Wales

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Added on  2021-06-15

Demand and Supply of Nurses in New South Wales

   Added on 2021-06-15

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DEMAND AND SUPPLY OF NURSES IN NEW SOUTH WALES 1DEMAND AND SUPPLY OF NURSES IN NEW SOUTH WALESBy (Name)Name of the class (course)The Course instructor (Professor)The InstitutionThe City and State locationThe Date
Demand and Supply of Nurses in New South Wales_1
DEMAND AND SUPPLY OF NURSES IN NEW SOUTH WALES 2Article OverviewThe article titled “NSW needs nurses as 'catastrophic' shortage predicted to affect patient care” by Kathleen Calderwood, and Greg Miskelly on 12th January 2018 highlights the status nurses in New South Wales. According to this article, there is a looming crisis of nurse shortage in New South Wales. For instance, in 2018, New South Wales must find at least 2000 full registered nurses to meet the current demand. The shortage of nurses in this state has been linkedto several factors. For example, due to aging demographics, the demand for nurses is on the rise. While the demand for nurses is escalating, the supply is falling. For example, the aging workforces in the nursing profession, as well as a deficit in recruits, are among the factors that are reducing the supply of nurses in New South Wales[ CITATION Kat18 \l 1033 ].With nurse shortage expected to reach 8000 by 2030, this issue is of concern to healthcare institutions, patients, and political leaders. According to Stewart James, manager of Hammond Care, the healthcare facilities will soon encounter the challenge of hiring and retaining new nurses. Stewart James argues the need for healthcare facilities to get younger nurses, train, develop and maintain them. Luke Foley, the opposition leader, is appealing to the government to increase the funds for enhancing the skills of student nurses[ CITATION Kat18 \l 1033 ]. Economic AnalysisDemand for NursesThe demand for nurses in Australia is high, and this trend is expected to continue in future. Increase in the aging population is one of the factors that are increasing the demand for nurses in Australia[ CITATION Sta141 \p 34 \l 1033 ]. As people age, they increase their demand for
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DEMAND AND SUPPLY OF NURSES IN NEW SOUTH WALES 3medical attention and care. The surge in disabilities and chronic diseases also means that the Australians will increase their demand for medical care. Moreover, the demand for nurses in this country has been enhanced by an increase in population as well as income levels[ CITATION Ada13\p 105 \l 1033 ]. As population increase, the number of people seeking medical care rises. Also, a rise in income of individuals means that many people will have sufficient money to seek better medical care.Besides, employment trends in the nursing sector such as a switch to part-time work haveincreased the demand for nurses[ CITATION Aus14 \l 1033 ]. The nursing staff has a high number ofpart-time workers, and this trend is on the rise. With a shift towards part-time work, a high number of nurses are demanded to avail the same level of healthcare services. Implications of the Rising DemandPriceNurse Labor The increase in demand for nurse services is illustrated by the change in demand curve from D to D1. The shift leads to an increase in the quantity of labor demanded from Q1 to Q2 SW2W1Q2Q1D1D
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