Life Sciences Employment Gains Outpace Overall U.S. Job Growth

Life Sciences Employment Gains Outpace Overall U.S. Job Growth

by Paul Bubny / via Connect CRE

Increased investment and employment in the life sciences sector has driven life sciences related real estate to new heights, according to Cushman & Wakefield’s new Life Sciences Update. Similarly, CBRE reports that job growth in the sector increased 5.3% year over year in January, faster than overall national growth of 4.7%.

“The life sciences industry has been on the rise over the past decade but has really accelerated in the past couple of years due to the COVID-19 pandemic and last year’s successful implementation of the mRNA technology,” said David C. Smith, global head of occupier insights at Cushman & Wakefield. “With new treatments in the works for diseases like cystic fibrosis, cancer and HIV, the industry is poised for another successful year in 2022.”

Added Matt Gardner, CBRE U.S. life sciences leader, “Real estate often lags other economic and business measures. In the case of the life sciences sector, demand for lab space is the natural result of robust growth in jobs and in public and private funding in recent years, despite recently challenging equity markets.”

Leave a Reply

Your email address will not be published. Required fields are marked *