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By%20Sharon%20Terlep%20/%20The%20Detroit%20News

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They also are attracted by a medical field without the on-call shifts of a ... than five years ago, when the number of unfilled store pharmacist positions ... – PowerPoint PPT presentation

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Title: By%20Sharon%20Terlep%20/%20The%20Detroit%20News


1
Pulse strong for pharmacy jobsInflux of new
drugs and aging population means more druggists
are needed.
  • By Sharon Terlep / The Detroit News
  • April 10, 2005

http//www.detnews.com/2005/careers/0504/10/B01-14
5427.htm
2
Dilemma
  • Finding enough druggists to dole out
    prescriptions is no longer the pharmaceutical
    field's biggest dilemma.
  • The new quandary Finding a place for swarms of
    aspiring pharmacists, many of whom are being
    turned away by pharmacy schools nationwide.
  • A wide open job market and starting salaries that
    top 80,000 -- results of a critical shortage a
    few years ago -- have students lining up to
    dispense drugs. They also are attracted by a
    medical field without the on-call shifts of a
    doctor and an atmosphere mostly separated from
    patients.

3
Labor Market Features
  • Median salary for a pharmacist is 92,964,
    according to mysalary.com.
  • Druggists are needed to meet the demands of an
    aging population and an industry that's turning
    out record numbers of new drugs. Rite Aid Corp.
    will open four new stores this spring in
    southeast Michigan.
  • Retail pharmacy sales nationally hit 221 billion
    in 2004, a 21 percent increase over 2002,
    according to the National Association of Chain
    Drug Stores.
  • The demand for pharmacists in Michigan, on a
    scale of 1 to 5 with 5 being a severe shortage,
    is 3.60, according to a survey released by the
    drugstore association last week. That means
    there's some difficulty filling pharmacy
    positions.

4
  • That's better than five years ago, when the
    number of unfilled store pharmacist positions
    nationwide rose to nearly 7,000 from 2,700 in two
    years, according to the association. There were
    about 4,700 openings in 2003.
  • Wayne State received more than 900 applications
    for 80 spots this fall in its four-year program
    to earn a doctorate in pharmacy science. Wayne
    State includes Oakland University students
    because of a recently formed partnership to train
    druggists.
  • Classes won't get much bigger than that, in part
    because Metro Detroit lacks qualified pharmacies
    to train students. Students spend the last year
    of their education working in a pharmacy, and
    drugstores must meet certain criteria to qualify
    as a training site. Wayne State is working with
    area Kroger stores to help make their pharmacies
    fit for training students.

5
Economics
S
wage
D
  • We have supply and demand.
  • Supply is pretty unresponsive to current wage
    (why?).

w1
w0
  • What happens when the demand ??
  • What goes up more, wage or labor force? Why?

L0
L1
Labor
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