John Wolz

More than 36% of fastener companies increased their workforce in 2007. A slightly larger number of firms (37.2%) operated at current staffing levels, while 23% cut jobs during the year.
The number of companies planning to add more workers in the coming year rose to 31% from 28% in 2007. A 53.1% majority intend to operate with their current number of employees in 2008, while 7.1% of survey participants have decided to cut jobs.
The percentage of manufacturers adding jobs in 2007 climbed to 47.5% compared with 29.6% the previous year. The percentage of manufacturers trimming their workforce dropped to 25% after climbing 40.7% in 2006. An equal number of manufacturers25%reported no changes in personnel strength.
Distributors added jobs at a slower pace, with 28.3% increasing personnel in 2007. Nearly 20% trimmed their payroll, while a 50% majority kept staffing levels stable.
Nearly half of importers (46.2%) cut their workforce in 2007. More than 30% added new jobs, while 23.1% operating at current staffing levels.
Manufacturers boosted expectations for 2008, with 42.5% planning to add jobs and 47.5% intending to keep their workforce stable. Optimism increased among distributors, as 32.6% predict job increases over the next year compared with 24.1% in 2007. Nearly 9% of distributors plan no changes in their workforce. A 61.5% majority of importers anticipate stable personnel numbers in 2008, while 15.4% plan to add jobs and an equal 15.4% intend to reduce staff. \ �2008 FastenerNews.com