Perfectly matched layers (PMLs) are now a standard approach to simulate the absorption of waves in open domains. Wave propagation in elastic waveguides has the possibility to support back-propagating modes (propagating modes with oppositely directed group and phase velocities) with long wavelengths. Back-propagating modes can lead to temporally growing solutions in the PML. In this paper, we demonstrate that back-propagating modes in a two space dimensional isotropic elastic waveguide are not harmful to a discrete and finite width PML. Analysis and numerical experiments confirm the accuracy and stability of the PML.