1/27/2015 8:30:00 PM
FIN SURVEY

Wages Continue Modest Gains

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Fastener job growth continued in 2014. After hovering near 50% for two years, 61% of fastener companies added jobs in 2014. About 51% reported job growth under 10%, while10% of companies reported workforce growth greater than 10%.

Just under three in 10 survey participants (29%) held the line on their workforce. And only 6% of FIN Survey respondents reported job cuts, all of them in the 1%-4% rage. The previous year 16% trimmed their workforce.

More than half of fastener companies (51%) predict job growth in 2015, while 4% anticipate cutting jobs.

Wage increases continued in 2014, with 83% giving raises, though the vast majority (72%) were in the 1% to 4% range. About 74% of FIN Survey respondents granted pay hikes the previous year.

And 71% of survey participants anticipate modest pay raises in 2015.

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