March 2025 Life Sciences Update

Increased Slack in U.S. Life Sciences Labor Market

04

CONTENTS

US Life Sciences Job Postings Continued to Decelerate in 2024

• Life sciences job postings and hirings lagged in 2024, with job postings down 8.3% YOY and hirings down 2.1% YOY. Despite the lower hiring rate, hiring outpaced job posting by 24%, meaning that most job postings were being filled more easily than the 2021-2022 period when labor was constrained. • Layoffs in the sector added slack to the labor market, making it easier for some companies to hire in 2024. However, job postings had an intensity ratio of 3-to-1, meaning each unique job was posted an average of three times — highlighting ongoing challenges in staffing in-demand positions.

Avg. Monthly Hires

Avg. Monthly Postings

60

50

40

30

Monthly Hires and Postings (Thousands)

20

10

Jul 2021

Jul 2019

Jul 2022

Jul 2023

Jul 2024

Jan 2021

Jul 2020

Jan 2019

Oct 2021

Apr 2021

Oct 2019

Apr 2019

Jan 2022

Jan 2023

Jan 2024

Oct 2022

Oct 2023

Apr 2022

Jan 2020

Apr 2023

Oct 2024

Apr 2024

Oct 2020

Apr 2020

Source: Lightcast

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Cushman & Wakefield