1/21/2014 10:36:00 PM
FIN SURVEY
Just under half of fastener companies added jobs in 2013, down slightly from 50% the previous year. About 36% reported job growth under 10%, while13% of companies reported job growth greater than 10%.
Just over three in 10 survey participants held the line on their workforce, with no additions or cuts expected.
About 16% of FIN Survey respondents reported jobs cuts, with 14% of companies trimming their workforce by less than 10%, and an additional 2% of companies cutting more than 10% of jobs.
Four in 10 fastener companies predict job growth and none anticipate cutting jobs in 2014.
Wage increases continued, with 74% giving wage hikes averaging 4% in 2013, up from the 70% that granted pay hikes the previous year.
And 75% of survey participants anticipate modest pay raises in 2014.
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