Our Economic & Social Impact
The cosmetics and personal care products industry is one of the most dynamic and innovative industries driving the U.S. economy.
Communities across the country rely on the industry’s economic and social contributions to support jobs and spur economic growth. To better understand the value of these contributions, PCPC works with PricewaterhouseCoopers (PwC) to measure the economic and social impact of the personal care products industry, using the most recent government data available.
- In 2018, the personal care products industry was responsible for 3.9 million direct and indirect jobs, representing 1.9% of total U.S. employment; $170.5 billion in labor income; $267.3 billion in our nation’s gross domestic product (GDP); and $64.8 billion in tax payments at the federal, state and local levels.
- Our commitment to social well-being starts with our support for women and people of color, at work and in their personal lives. Women make up 77% of our industry’s workforce and hold more than half of management positions – significantly more than in other industries – and people of color make up 33% of the workforce. While we are making progress, we know we have more to do. We don’t have all the solutions, but we are committed to helping build a more diverse industry.
- Our industry plays an important role on the global stage. Between 1990 and 2018, the personal care products industry generated a trade surplus every year, reaching $4.8 billion in 2018, while the manufacturing sector as a whole recorded a trade deficit in each year of this period. In 2018 alone, exports of personal care products were more than 35% higher than imports.
- We support a wide range of corporate social responsibility programs, issues and causes that make our communities better places to live. For every $1 million in revenue, personal care product manufacturers made charitable contributions of approximately $1,300 – higher than the average for the manufacturing sector as a whole and second highest among all major industry sectors. Beauty and personal care products companies are also generous with their human resources, donating thousands of employee volunteer hours each year.
- We employ more than 7,200 science, technology, engineering and mathematics (STEM) professionals at personal care products manufacturers, all dedicated to ensuring product and ingredient safety.
Economic & Social Contributions Report 2020: Driving the Economy, Shaping the Future