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More than 70% of job functions experienced a wage increase in 2020, and more than 67% of executives said their company was planning to hire new employees.
A preliminary third-quarter estimate reports a 15.8% increase, following a 4.5% uptick in the previous quarter. Shipments will probably continue to increase in the final quarter of 2020, as well, according to Perc Pineda, Chief Economist, Plastics...
Running the gauntlet of COVID-19 has shifted how businesses think about global supply chains. Companies are not just looking at manufacturing costs, but at what happens if their supply chain shuts down.
The plastics industry lost 73,000 jobs in March and April, and has gained back 55,000, or 75%, of the lost jobs. That is better than the economy as a whole.
We’re not where we were before the pandemic, but it does look like the beginning of the V-shaped recovery that the plastics industry and the United States in general were hoping to see.
Mexico and Canada remain the US plastics industry’s largest export markets. Although the US plastics industry had a $13.7 billion deficit with China, resin exports recorded a $2.5 billion trade surplus.