NPCA Staff Report
Inflation. Labor shortage. Supply chain issues. These are the realities of 2022 for manufacturers throughout the United States and around the world.
Still, 95% of U.S. manufacturers in the Marcum National Manufacturing Survey are confident that 2022 revenue will meet or exceed 2021 levels.
Some highlights from the survey:
- 60% feel fully positive about the industry outlook for the year.
- 68% have implemented changes to their operations in response to COVID-19 that remain in place.
- 83% list their greatest concern as “replacing skilled workers.”
- As a result: 86% anticipate increasing wages and 66% anticipate increasing benefits within the next 12 months.
- 77% anticipate expansion of their operations and workforce within the next 12 months.
- 50% reported investing in new technology during the past year with 40% more planning to do so.
- In combating supply chain issues, 40% have diversified their suppliers and 70% are finding savings with better efficiency.