Manufacturing Layoffs Down in April
Layoffs in the manufacturing industry are down for the month of April, according to the results of the April Business Conditions Report released by the Precision Metalforming Association (PMA). Out of a sample of 209 manufacturing companies, 36% of participants reported plant workforce on short time or layoff for the month of April (down eight percent from the month of March). This figure compares to 38% on short time or layoff one year ago to date. When asked to compare general economic activity for the next three months with today, 54 percent felt economic activity would go up in upcoming months, 40 percent expected activity to remain the same and six percent predicted a further downward turn. In addition, 59 percent of respondents expected to see an increase in incoming orders during the next three months, 35 percent projected no change in orders and six percent predicted a decrease over the next three months.