The employment in Scientific R&D in the US has shown a steady increase from 2013 to 2023, rising from 605,000 to 738,000 full-time equivalents. Despite occasional declines, such as in 2017 and 2020, the overall trend exhibits a positive growth trajectory. The Compound Annual Growth Rate (CAGR) over the last five years has averaged 2.01%. Year-on-year variations have ranged from a high of 6.44% in 2019 to a low of -1.09% in 2017, demonstrating the sector's resilience and consistent demand for R&D capabilities.
Forecasts from 2024 to 2028 indicate continued growth, with employment expected to reach 789,000 by 2028. The projected 5-year CAGR is 1.05%, suggesting a more moderate but sustained increase.
Future trends to watch for:
- Impacts of technological advancements such as AI and machine learning on R&D methodologies
- Potential shifts in government funding and private investment in scientific research
- Emerging fields such as biotechnology and renewable energy driving new employment opportunities