VMA report projects continued employment growth
The valve industry employs 50% more people than a decade ago, and it is expecting to add more jobs this year, according to the Employment Snapshot Report presented by the Valve Manufacturers Association (VMA) during a briefing at its 75th Anniversary Annual Meeting.
The Report is based on a survey of VMA member companies, including nearly 100 North American manufacturers of valves, actuators and controls. These companies account for about 80% of total industrial valve shipments out of U.S. and Canadian facilities.
Over half of responding member companies reported their domestic hiring would increase by up to 5% this year, with only 3% of valve manufacturers projecting no growth. These workforce figures are consistent with the increase in shipments that members anticipated, as reported in VMA’s annual market forecast released earlier this year. The forecast report predicted that shipments for the U.S. industrial valve industry would grow 3% in 2013, increasing to nearly USD 4.3B. The increase would mark the fourth consecutive year of growth following the recession, exceeding the industry’s previous 10-year peak in 2008.
The Employment Snapshot Report shows the valve industry in the U.S. and Canada employs more than 30,000 people, a 50% increase from a decade ago.