Bureau of Labor Statistics (BLS) figures show unemployment in plastics and rubber products manufacturing rose for the third straight month, to 5.7 percent in May, from 5.4 percent in April. Employment declined by 1,700 jobs.
In an analysis on the Plastics Industry Association’s website, chief economist Perc Pineda wrote, “While monthly data can be volatile, historical trends over the past decade show that the sector has experienced unemployment rates above 5.0 percent even during periods of rising production and capacity utilization. Still, a 5.7 percent unemployment rate is concerning — especially when compared to the overall unemployment rate of 4.2 percent and the manufacturing rate of 3.6 percent.”
Pineda said unemployment in plastics and rubber manufacturing has been more volatile than in the overall manufacturing sector and the broader economy.
The analysis noted several key roles that are expected to be in high demand over the next decade. Engineer positions are expected to increase 13.6 percent between 2023 and 2033, to 25,100 jobs, and machinists should see a 9.4 percent increase, to 3,500 jobs.
“While growth in production occupations is expected to slow to 3.6 percent, they will remain the industry’s largest occupational group, with 368,000 jobs by 2033,” Pineda said in the report. “Though smaller in size, industrial machinery installation, repair and maintenance workers — as well as industrial machinery mechanics — are projected to see significant growth, at 26.6 percent and 22.0 percent respectively, reaching 21,900 and 22,200 jobs.”
The increasing use of technology and automation in the plastics industry supports competitive wages, according to the analysis. Top engineers in plastics earn 35.1 percent above the national average, and top-percentile production workers earn 41.5 percent more than the national average.
PLASTICS’ analysis, by Pineda and research assistant Tayce Shamamian, also looked at workforce demographics by age. In plastics product manufacturing, the share of workers aged 16 to 24 rose from 8.5 percent in 2023 to 10.3 percent in 2024, while the share of workers aged 55 and older declined slightly, from 28.9 percent to 28.0 percent. Assuming this older cohort retires at the full retirement age of 67, an estimated 84,000 new job openings are expected over the next 2 to 12 years.
