2023 March Life Sciences Update

Labor Demand Remained Robust in 2022 The movement of skills in job postings is an indication of what the sector prioritizes in its current hiring trends. The areas of knowledge most in demand across life sciences job postings in 2022 were pharmaceuticals, followed by good manufacturing practices and biology. In the most recent quarter, data analysis has become the fifth most in-demand skill and clinical trials round out the top six. Staffing in the life sciences sector is typically recruited from the pharmaceutical industry. An analysis of industry gain and drain—an indicator of job transitions from other industries to life sciences and from life sciences to other industries—shows that the pharmaceutical industry is the top sector that both feeds and takes jobs from life sciences. The next major source of labor for life sciences is employees from colleges and universities.

Next Generation Talent: A Look at Enrollments in Major Universities As life sciences companies continue to look for new talent, the pipeline of young workers becomes paramount. With 260,736 life sciences degree programs completed in 2021, a 3.7% increase from the previous year, there is a robust influx of future employees entering the workforce. The Los Angeles and New York metro areas lead other markets tracked by Cushman & Wakefield. Combined, they produced over 26,000 life sciences program completions in 2021 and consequentially were the fifth- and first-ranked markets in 2022 hires, respectively. The other metro areas rounding out the top five in hires include Boston, New Jersey and Washington D.C. metro, which includes Suburban Maryland.

Industry Gain and Drain

Top Six Skills for Life Sciences Job Postings

Pharmaceutical Preparation Manufacturing

Dec 2021 - Feb 2022

Mar 2022 - May 2022

Jun 2022 - Aug 2022

Sep 2022 - Nov 2022

Dec 2022 - Feb 2023

Colleges, Universities, and Professional Schools

Research and Development in Biotechnology (except Nanobiotechnology)

Pharmaceuticals Pharmaceuticals Pharmaceuticals Pharmaceuticals Pharmaceuticals

U.S. Annual Completions for Life Sciences Degrees

Drugs and Druggists' Sundries Merchant Wholesalers

Good Manufacturing Practices

Good Manufacturing Practices

Good Manufacturing Practices

Good Manufacturing Practices

Clinical Trials

300

Biological Product (except Diagnostic) Manufacturing Research and Development in the Physical, Engineering, and Life Sciences (except Nanotechnology and Biotechnology)

Good Manufacturing Practices

Marketing

Biology

Biology

Biology

250

Entering the job market

Surgical and Medical Instrument Manufacturing

Biology

Marketing

Biology

Data Analysis

Marketing

200

All Other Professional, Scientific, and Technical Services

Biotechnology Biotechnology Biotechnology Clinical Trials

Data Analysis

150

General Medical and Surgical Hospitals

Thousands

100

Data Analysis

Clinical Trials

Marketing

Marketing

Clinical Trials

Offices of Physicians (except Mental Health Specialists)

Wholesale Trade Agents and Brokers

50

Source: Lightcast, Cushman & Wakefield Research

Medicinal and Botanical Manufacturing

0

Previous Industry Following Industry

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

Source: Lightcast, Cushman & Wakefield Research

Source: Lightcast, Cushman & Wakefield Research

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LIFE SCIENCES UPDATE | 2023 MARCH