Inflation Easing and Chronic Labor Shortage of Plastics Abating: Data Reveals
Data from the U.S. Bureau of Labor Statistics shows that inflation is easing and the chronic labor shortage in plastics is abating. At its peak, there were more than two job openings for every unemployed worker in the country; however, as of February 2021, this ratio had fallen to close to 1.7 jobs per worker.
The decrease in job openings can be attributed to several factors including an increase in employment opportunities across other industries, such as healthcare and technology, which have seen an uptick due to pandemic-related demand shifts; additionally, many workers who left their positions during COVID-19 may have opted not to return due to safety concerns or lack of childcare options while others may have decided on early retirement or found new career paths altogether resulting further reducing available talent pool for plastics industry roles.
Despite this decline though, it’s important to note that even with fewer open positions compared to pre-pandemic levels, there are still plenty of opportunities within the plastic manufacturing sector given the current economic climate. Companies should take advantage by investing resources into recruitment efforts targeted at qualified individuals who will help them maintain production standards needed to stay competitive global marketplace.Read more at Plastics News