PMPA’s Latest Membership Manufacturing Survey Results
Thanks to the 72 companies that responded to our latest request for updated information about your shops’ current status and expectations going forward.
We have forwarded these results to our team at The Franklin Partnership who will use this to help craft policy in Washington D.C.
Typically we share some inferences from our work, but this survey is clear and hardly needs any additional sensemaking. However, the fact that 86% of shops have no skilled employees on furlough, (Question #4) and 36% of respondents are actively seeking skilled workers right now (Q #5) are convincing evidence of our positive future.
Here are some other very interesting points to consider:
- The dearth of applications for employment (Q #7) is reported by half of our shops – attributed to very generous unemployment payouts.
- We found the fact that 2/3 of our shops reported no confirmed cases of COVID-19 (Q #9) to be interesting.
- ~35% of shops reported some Reshoring activity, though at small dollar amounts (Q #11 & #12)
- 88% of respondents reported PPP loans (Q #13) which permitted retention of employees according to 89% of respondents (Q #15)
- PPP Loan Forgiveness remains a mystery and an important one to be solved for our member companies….
- 86% of respondents would seek another forgivable PPP loan as described in (Q #18)
Again, thanks to those companies who took the time to respond and share with the rest of us their current status.