According to the latest Life Sciences Labour Market Trends report by CPL and market data analysts Vacancysoft, key recruitment trends show that in 2022, there were over 4,100 new scientific vacancies published in the ‘Golden Triangle’ (Cambridge, London and Oxford). This translates to a slight decrease from 2021, when there were over 4,500 jobs, resulting in a year-on-year fall of 9.1%.
Perhaps inevitably, the post-pandemic period has resulted in a hangover for the sector, as the combination of quantitative tightening leading to a slowdown in funding for emerging biotechnology firms, combined with the delays associated with getting new trials approved over the period, has meant that in recruitment terms, 2023 really was a slow year. Indeed, vacancies in 2023 were 42.6% lower than in 2022.
As the markets have normalised post-pandemic, so the job flow has slowed for scientists. In contrast, engineering vacancies are on the rise, with an estimated 1577 openings in 2023, marking a 6.5% increase from 2022 according to Life Sciences specialist recruiters CPL, and labour market data analysts Vacancysoft.
Within the EU-27, the month of March 2023 witnessed the highest monthly total this year with 461 published Procurement/Supply Chain jobs. However, Q2 has seen a marked dip since then, hence the EU-27 countries are expected to undergo a decrease of 11.8% in 2023, according to Life Sciences specialists CPL, and labour market data analysts Vacancysoft.
According to the latest life sciences report by CPL and labour market data analysts Vacancysoft, Pharma companies in the UK are still experiencing talent shortages in areas like digital, data analytics, and environmental, social, and governance (ESG), despite estimates showing a projected 40% year-on-year decrease in executive vacancies in 2023. Download your copy to take a more in-depth look into hiring activity within Life Sciences!