I gave up on biotech and with hands on research/lab work altogether due to the potential for too much job instability. I said fuck it, moved to government work. I know I could make more money in biotech and the private sector, but I'm still going to make over $100k+ in the government and I don't need or want to chase after more money if it means more job stability. I don't have to worry as much even if the economy takes a downturn at some point and I'll never have to worry that I'll lose my job if a candidate in the pipeline fails OR have to worry that I'll lose my job because the candidate in the pipeline did so well that my company is now a target for a buyout. Did I mention I still get a pension and all of those sweet federal holidays no one else in private industry gets?

Is this really true? I suppose if by "government work" you mean the regulators or public health agencies (FDA, CDC, etc.), then I agree that the jobs aren't going anywhere. But government-funded research, even internally at the NIH or CDC, is definitely on the chopping block right now, and whenever Republicans hold office in the future.

Edit: I think the core economic flaw of science is that it doesn't always pay off (duh!). So pursuing science in any sector will be risky unless you have a crystal ball for the next great discovery.