The MedZilla Report: October 2008 Employment Outlook for Biotech/Pha...( Despite roll...)

Despite roller-coaster changes in the U.S. and worldwide stock markets, the trend in health care employment could be counted on once again: tens of thousands of new jobs created in October, bringing yearly growth up over 345,000.The MedZilla.com Employment Report analyzes the numbers for October 2008 and announces the findings.

Seattle, WA (Vocus) December 3, 2008 -- The U.S. economy experienced some subtle and – some might say – counterintuitive shifts in October, with the stock market moving like a roller coaster and gas prices dropping to sub-$2.00 per-gallon prices. According to MedZilla.com, the leading employment and career website for biotech, pharmaceuticals, health care, science and medical device, it found that one thing unchanged is the trend in health care job creation; 26,000 new jobs were created in October, putting health care employment growth at over 348,000 for the past twelve months.

News was not all good, however; as in previous months, some health care jobs were cut. In October, the most notable shrinkage was in Minnesota and the Northeast, but even the health system that announced the largest number of employment cutbacks – Alina in Minneapolis – was not planning to actively terminate employees. Instead, according to the St. Paul Pioneer Press, they will be eliminating positions via attrition – that is, not filling openings once current employees choose to depart. The greater number of outplacements, as in previous months, looks to come from pharmaceuticals. Once again, GlaxoSmithKline announced that they would be eliminating as many as 850 research and development positions. Most pharmaceutical companies that said they had planned to lay off employees did so under cover of restructuring efforts, as they – like most if not all companies in the country – work to eliminate costs and increase productivity at the same time.
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