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National  + Healthcare  | 
Year-over-year job growth in life sciences is outpacing employment gains overall, spurring demand for real estate

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

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.” 


Inside The Story

Cushman & Wakefield's Smith

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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