Consumer Brands Statement on May Jobs Report
ARLINGTON, Va. — Today’s jobs report from the Bureau of Labor Statistics offered some growth across the consumer packaged goods industry, though still well short of employment needs. According to the Consumer Brands Association’s analysis of the May BLS data, 10,500 CPG jobs were added last month, pushing the industry 4.3% above its pre-pandemic employment level. Still, analysis of the Job Openings and Labor Turnover Survey earlier this week showed the industry’s job openings rose to 142,000, up from 120,000 the month prior. Wages for manufacturing facility roles rose 6.3% over the past year, outpacing the national average of 5.2%. Consumer Brands released the following statement from President and CEO Geoff Freeman:
“The industry — and the industries it depends on for ingredients, materials and shipping — need a labor force capable of meeting consumer demand and easing the pressure along the supply chain. CPG companies are balancing seismic changes in workplace expectations with the need to meet consumer demand that has exceeded March 2020 levels for the ninth month in a row.
“For more than a year, the cost for CPG companies to make and ship goods has been rising, due in part to a labor shortage across the supply chain. Getting inflation under control requires a well-functioning supply chain — and a well-functioning supply chain depends on a robust, reliable workforce. We must complement companies’ efforts to attract new employees through wage and benefit increases with policy solutions that reskill and motivate Americans to rejoin the workforce.
“Solving this issue will require bold and immediate action from the Biden administration and Congress to enhance supply chain resiliency and provide consumers with much-needed relief. We urge progress on the Consumer Brands’ Deliver America platform.”
The cost of CPG industry inputs — ingredients, materials and energy — has risen 35% over pre-pandemic 2019. Wholesale prices for the industry have largely outpaced the overall Producer Price Index since the start of the pandemic, amplifying the cost pressures on CPG companies.
Graph: Wholesale Costs Throughout Pandemic
The Consumer Brands Association champions the industry whose products Americans depend on every day, representing nearly 2,000 iconic brands. From household and personal care to food and beverage products, the consumer packaged goods industry plays a vital role in powering the U.S. economy, contributing $2 trillion to U.S. GDP and supporting more than 20 million American jobs.
Published on June 3, 2022
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