Jason Sandefur

More than 75% of fastener companies who participated in the FIN Survey granted an average pay raise of 4.6% in 2006, down slightly from the 8 in 10 companies who boosted wages during 2005.
Only 4.9% reported no increase in employee pay in 2006, down sharply from the 8.5% of companies who reported flat wages in 2005.
Nearly 78% of manufacturers handed out raises in 2006 at an average rate of 4.6%, down from the 85.7% who granted raises in 2005. For distributors, 72.4% reported wage gains in 2006, with the average pay increase of 4.6%, down from the 5.5% increase granted in 2005.
Just over 60% of respondents plan to boost pay in 2007 at an average of 3.2%, leaving almost 40% undecided on granting pay hikes this year.
About 67% of manufacturers predict pay hikes in 2006 at an average rate of 3.2%, much lower than the 83% of manufacturers who forecasted pay raises in 2006. About 55% of distributors intend to raise wages in 2007, while a firm 10% planned no pay hikes and about 35% were undecided. The average pay hike for distributors is predicted to be 3.2%. \ �2007 FastenerNews.com