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Comment PDF Business & Economics

Economy and Opportunity Drive High CPI Salaries

By Scott Jenkins |

Amid a tight labor market, CPI workers at all levels are in high demand as the range of jobs requiring chemical engineering expertise becomes increasingly diverse Many current indicators suggest that it is a great time to be working in the chemical process industries (CPI). Those with chemical engineering degrees are in high demand, and the salaries reported by working engineers generally reflect that demand (see “Recent CPI Salary Data” section below). At the same time, opportunities for careers are growing as the field evolves. The unemployment rate for chemical engineers remains low (~1.5%), as it has been in recent years and is lower than the overall unemployment rate for all fields, which dropped to 3.7% in October 2018, according to the U.S. Bureau of Labor Statistics (BLS; Washington, D.C.; www.bls.gov). Competitive labor market For the past several years, much has been reported about several long-term workforce issues, including a large number of retirements of workers from the “Baby Boom Generation” and a skills gap in many manufacturing sectors, including the CPI. These trends, along with other factors, such as a capital spending boom spurred by inexpensive shale gas in the U.S., have created an ongoing…
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