Without health care jobs and funding, US would have been in a deep recession
The healthcare and life sciences private and public sectors have helped prevent the U.S. from plummeting into a deep recession through commercialization and job creation.
National bioscience industry employment reached 2.1 million jobs in 2021, across over 127,000 businesses in the U.S. A recent report by BIO shows that employers grew their payrolls by 11 percent since 2018. The report also indicates that bioscience industry establishments and averages wages have doubled in the past three years.
Without contributions from these two key industries the economy would be in a different position today. The healthcare and life sciences sectors have created an economic ecosystem to help prepare if things are to get worse.