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.
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