CPI Salaries Hold Steady; Workforce Solutions Expand
By Chemical Engineering |
Conditions in the U.S. CPI continue to support high salaries for engineers and skilled technical workers, but conditions also continue to sustain ongoing workforce challenges
Engineering expertise and technical know-how continue to be in high demand in the chemical process industries (CPI), and that is keeping upward pressure on salaries for chemical engineers. Survey data from a number of sources indicate that CPI salaries remain strong in 2015 and unemployment remains low. Ongoing capital investments to take advantage of inexpensive and plentiful natural gas from shale deposits continue to cast a large shadow when considering current workforce issues, especially in areas of high activity, such as Louisiana and Texas. Responses to workforce issues surrounding the supply of skilled labor for construction and operation of new facilities are now maturing and expanding, but the scope of the challenge remains large, and is complicated by the depressed price of crude petroleum observed for the past year.
Solid, but erratic labor market
By many measures, 2015 is a good time to be a chemical engineer in the U.S., and a good time to be employed in the CPI in general. With unemployment among engineers very low (estimated at 1% or less), compensation…