The latest results from NFPA’s State of the Fluid Power Industry survey give insight into members hiring plans and more. The graph below shows the monthly diffusion index for the question “what best describes your hiring plans over the next 3 months?”. The 3 answer options given to survey participants are:
- Hire Employees
- Keep Employment Stable
- Layoff Employees
*SOFP Survey was not conducted for the months of May-July 2021. A trend is used to fill in the graph.
Diffusion indexes have the properties of leading indicators and are convenient summary measures showing the prevailing direction of change and the scope of change. For the above graph, an index reading above 50 indicates a general increase in hiring while below 50 indicates layoffs. The distance from 50 is indicative of the strength of the increase or decline.
NFPA’s State of the Fluid Power Industry Report is an opinion-based survey that utilizes data compiled from monthly replies of fluid power industry peers. Survey responses reflect the change, if any, in the monthly, quarterly, and annual state of our industry compared to previous benchmarks. This survey is sent out monthly to manufacturer and distributor members. Participants receive results to both individual surveys.
If you or someone in your company is interested in participating, please contact Sam Diedrich at sdiedrich@nfpa.com or 414-778-3372.
Like this post? Share it!
Recent Posts
Member Highlights the Value of NFPA’s Conferences
At NFPA, our members’ experiences are the foundation of what we do. We’re excited to share our latest testimonial video featuring Ken Baker, CEO of Bailey International, who underscores the value of attending NFPA events. In his video, Ken highlights how the Economic & Industry Outlook Conference provides invaluable insights for his business. From the…
NAM Regulatory Update: House Passes Critical Minerals Bill
As part of an effort to bring more information about the regulatory and legal environment facing American manufacturers, NFPA is monitoring the newsfeed of the National Association of Manufacturers (NAM) and will be bringing important updates like this to the attention of NFPA members. (November 15, 2024) The House easily passed an NAM-backed bill intended…
Fall 2024 Economic Update Webinar – Recording Available
The most recent NFPA Economic Update Webinar featured Lauren Saidel-Baker of ITR Economics. Learn what to expect from a number of our industry’s most popular customer markets, while also getting the answers you need to the short-term outlook for the fluid power industry. These insights and more are available to NFPA members in the archived recording of the…