Showing the keenest growth rates, industries such as life sciences, optoelectronics and microelectronics are the possible rising star of the Scottish employment situation.

The Life Sciences industry has witnessed and astounding 30% growth per annum, this is twice the European average of 15%. If the entire UK is considered, then Scotland contains 20% of all Life Science companies, many of which have lead the field of innovation with such results as “Dolly the Sheep”, the first successfully cloned mammal.

The optoelectronics industry in Scotland is currently valued at over £600 million. Within the fast growing technology sector, it is one of the leaders. It is believed that this industry alone will account for as much as 10% of all Scottish jobs within the next decade. This massive expansion will be fuelled by the transformation the industry makes possible for such things as medicine, transportation and construction. Scotland is renowned for the quality of its research centres in this field, and is likely to evolve into a world leader of the optoelectronics industry.

It is interesting to note how the industry in Scotland has evolved over the last two decades. We are seeing a natural migration away from heavy industry such as oil and gas mining and refining, and a move towards more ecologically friendly and more technology based areas of commerce, this is a completely typical model for any country, wishing to make a successful transition from the industrial to technological stage of its development. This single thing alone lends much support to the economist view that Scottish employment is heading for a healthy future.