- Innovative, creative and pacesetting, the business of chemistry employed 849,800 workers in 2008, making it one of the largest U.S. industries in terms of employment.
- In addition to high salaries and wages reflecting occupational knowledge intensity, the business of chemistry also provides excellent benefits to its employees. These include legally mandated expenditures as well as voluntary programs, such as profit-sharing and other compensation, vacation and other leave, health and life insurance, stock purchase plans, pensions, 401(k) contributions and others. As a share of salaries and wages, these typically add 35% or more to the cost of compensation.
- In 2007, the average compensation (wages and benefits) of $104,927 per employee was higher than the manufacturing average and higher than the average for all private-sector workers. Basic industrial chemical workers are the highest paid among chemical segments.
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Employment and Average Annual Compensation per Employee in the Business of Chemistry1
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 |
| |
| |
1990 |
1991 |
1992 |
1993 |
1994 |
1995 |
1996 |
1997 |
1998 |
1999 |
2000 |
2001 |
2002 |
2003 |
2004 |
2005 |
2006 |
2007 |
2008 |
| Employment (Thousands) |
1,035.8 |
1,024.3 |
1,029.1 |
1,024.7 |
1,004.6 |
987.8 |
984.8 |
986.8 |
992.6 |
982.5 |
980.4 |
959.0 |
927.5 |
906.1 |
887.0 |
872.1 |
865.9 |
860.9 |
849.8 |
| Average Annual Compensation (per Employee) |
46,692 |
49,643 |
51,947 |
53,807 |
56,163 |
58,572 |
60,005 |
62,701 |
65,641 |
68,783 |
73,537 |
74,665 |
84,272 |
88,279 |
96,136 |
94,980 |
99,955 |
104,927 |
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About These Data
Sources: Data on compensation per employee are from the Bureau of Economic Analysis and ACC analysis. Employment data is from the Bureau of Labor Statistics.
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Notes
1The Business of Chemistry: Based on the U.S. government’s North American Industry Classification System (NAICS) 325. Includes inorganic and organic chemicals, synthetic materials, specialties, agricultural chemicals, pharmaceuticals, soaps and detergents, and other chemical products. Where company-specific data are not available, particularly in the area of economics, business of chemistry data are used to approximate Responsible Care companies. Responsible Care companies represent a sub-segment of the business of chemistry.
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