The MedZilla Report: Febraury 2009 Employment Outlook for Biotech/Pha... ( After the fl...)

The MedZilla Report: Febraury 2009 Employment Outlook for Biotech/Pharma/Health

Date:3/30/2009

After the flood of layoffs in health care in January, the industry seems to have taken a deep breath and a step back, getting back on track and creating 27,000 new jobs. Health care job cuts that were announced were mostly due to the overall economic difficulty facing the United States.

(Vocus) March 30, 2009 -- While it would be irresponsible to say the worst is past for health care, it does seem as though the industry took a deep breath and a step back in February, getting back on track after January's sweeping job cuts. About 27,000 new jobs were created in health care in February -- more than 8,000 more than were created in January -- which is more in line with 2008's average monthly job increases in the 30,000 range.

"For the most part, health care job cuts have come as a result of increased expenses due to the current economic situation," said Michele Hopps, director of marketing for MedZilla.com, the internet's leading site for health care, biotechnology, and pharmaceutical jobs. "The bigger hit this month unfortunately came from biotech and pharmaceuticals, which have both seen difficulties over the past 18 months." While most of those companies announced layoffs in conjunction with reorganizations, strategic shifts, and other cost-cutting measures, some, such as Trubion Pharmaceuticals, said they are eliminating positions "in the face of continuing uncertainty in the capital markets and the global economy." (Puget Sound Business Journal, February 25, 2009) Hopps said that these companies often see difficulty due to the need to specialize. "They develop drugs that might fail in clinical trials or the regulatory phase, and that's a lot of money gone toward something that won't show a return on the investment."

Though many health systems -- including an increasing number in Canada, primarily i
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Source: PRWeb
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The MedZilla Report: Febraury 2009 Employment Outlook for Biotech/Pha...( After the fl...)