February 2021

Trends and Resources

Business Trends: Are chemical companies ready for the future of work?

The COVID-19 pandemic has caused significant, short-term disruption to the chemical industry, potentially leading to long-term impacts.

Dickson, D., Deloitte Services

The COVID-19 pandemic has caused significant, short-term disruption to the chemical industry, potentially leading to long-term impacts. Employment in the chemical industry was also significantly impacted by the COVID-led slowdown. Based on statistics from the U.S. Bureau of Labor, between December 2019 and December 2020, the chemicals industry experienced job cuts of nearly 17,500, or 2.1% of the entire workforce. During this period, the industry lost 37,700 production jobs but added 20,200 non-production jobs, including researchers and scientists. Furthermore, the drop in oil prices threatened to erode the cost advantage of U.S. petrochemical producers who use cheap and abundant NGLs as fe

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