Seattle Named One of the Top 25 Fastest-Growing Markets for Life Sciences Talent

Seattle is among the top 25 fastest-growing markets for life science graduates, even amid slower industry job growth, according to CBRE’s third-annual U.S. Life Sciences Talent Trends report.

Degree completions in biological and biomedical sciences (bachelor’s degree or higher) grew 15.1% between 2017-2022, the 25th highest of the top 100 markets. Seattle had 2,007 life sciences graduates with a bachelor’s degree or higher in 2022, up from 1,765 in 2021. The Puget Sound region produced the 19th largest number of biological and biomedical graduates in 2022, largely fueled by The University of Washington.

Even with an increase in life sciences graduates, demand outpaces supply. Seattle has a 0.12 ratio of new graduates for every Life Sciences Researcher, suggesting the region is possibly undersupplied with new graduates. Nationally, unemployment in the sector is below 2%, compared to roughly 4% for all professions.

This year, CBRE’s new analysis examines life sciences employment by subsector, mapping out the top markets and employment trends across the research & development, manufacturing and medical technology fields. CBRE also expanded its report to 100 U.S. markets from 74 last year, thus including up-and-coming markets such as Madison, Wis., and Trenton, N.J.

Seattle ranked within the top 25 across all three subcategories: ninth in R&D, 14th in manufacturing, 16th in medtech. Seattle is one of 16 markets to rank within the top 25 of all three subsectors.

“The increase in life sciences graduates creates a strong talent pipeline and positions the Seattle life sciences market well for recovery in the long term. Seattle’s expertise in cell and gene therapy and robust start-up scene has rooted the market in strong fundamentals, paving the way for breakthrough research and therapies,” said Austin Arper, first vice president with CBRE’s Life Sciences Practice in Seattle.

CBRE evaluated the largest 100 U.S. life sciences labor markets against multiple criteria for each of the three specialties. For the R&D subsector, that included the number and concentration of life sciences researchers; number of new graduates, and specifically with doctorate degrees in that field; concentration of all doctorate degree holders; and concentration of jobs in the broader professional, scientific, and technical services professions.

For the manufacturing and medtech sectors, the analysis covered the number and concentration of key professions in the markets.

Seattle stood out in the report in several other key areas:

• Seattle has the 10th highest number of biological/chemical technicians (2,510).
• Seattle was among the top 15 markets to issue biomedical/biotechnology/biology technician certificates in 2022.
• Seattle has 21,510 medtech occupations, most of which are concentrated in electrical assembly, industrial engineers and machinists.

To read the full report, click here.