Number of the Day: 122,000

June 19, 2012 | Number of The Day

What was once known as the nation’s medicine cabinet — New Jersey’s life-sciences industry sector, which includes pharmaceuticals, biotech, and medical device companies — currently employs an estimated 122,000 people, or about 4 percent of the state’s private workforce.

The average annual wage was $114,757 in 2010, more than twice the state’s average annual wage of $55,736. More than three-fifths of the sector’s workers hold at least a bachelor’s degree, with more than 22 percent holding a master’s or professional degree and 8.2 percent holding a doctoral degree.

The life sciences industry accounted for $23 billion, or nearly 5 percent, of the state’s gross domestic product in 2009.