May 2019 Job Market Report

There is strong demand for all types of engineering roles across the United States. Overall US unemployment has dropped to 3.6%, the lowest level in the last 50 years. The chemical industry is expected to add additional jobs through 2023 and chemical production is set to grow by 4.8% this year and 4.3% in 2020 before slowing down to below 2.0% after 2020 as new plant construction slows down. Add in the significant demographic of an aging/retiring workforce in the chemical industry, and you have a very strong job market that should continue for the next few years. Despite the demand, salary growth has been low to moderate as companies are staying within their defined compensation structures when hiring experienced engineers. Companies are less willing to compromise their internal equity by bringing in experienced hires at salaries a level above current staff in comparable roles. More companies seem to be talking about improving work life balance and other benefits compared to improving pay.

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