According to a report examining the economic value of bioscience innovation, U.S. bioscience firms employ 1.66 million people, a figure that includes nearly 147,000 high-paying jobs created since 2001. The average annual wage for a U.S. bioscience worker reached $94,543 in 2014. These earnings are $43,000 greater, on average, than the overall U.S. private sector wage of $51,148.
The report further shows that since 2012, the bioscience industry has grown by 2.2 percent with four of its five major subsectors contributing to this overall job gain. Two of these subsectors—research, testing, and medical labs and drugs and pharmaceuticals—have led growth during the 2-year period with both increasing employment by more than 3 percent.
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