Jason Sandefur

Nearly a third of fastener companies increased their workforce an average of 16.9% in 2006. The figure represents the third straight year of double-digit decline in the percentage of fastener firms adding more workers. A 42.6% majority operated at current staffing levels, while 21.3% trimmed their workforce an average of 6%.
Nearly 28% of companies plan to add more workers in 2007 at an average of 5.2%, while 62.3% intend to operate with their current number of employees. About 5% of fastener companies anticipate average layoffs of 5.7%.
The percentage of manufacturers adding jobs in 2006 dropped 10%, with only three in 10 boosting their ranks at an average rate of 16.4%. For the second straight year manufacturers fell short of their own predicted workforce increases for 2006. The percentage of manufacturers trimming their workforce more than tripled to 40.7%, with job cuts coming at an average rate of 5.3%. A modest 29.6% of manufacturers reported no personnel level changes.
Distributors were also cautious with their workforce in 2006, with 31% adding jobs at a rate of 16.4%. About 7% trimmed their payrolls at an average rate of 10%, and 55.2% keep staffing levels stable.
Manufacturers modified their expectations for 2007, with 33.3% planning to add jobs at an average of 3.9%, and more than half planning to keep their workforce stable. Just over 65% of distributors plan to operate at current staffing levels in 2007, while 24.1% predict job increases at an average rate of 6.2%. \ �2007 FastenerNews.com