Industry Trends & Analysis

Salaries and benefits stagnated before the pandemic, which made matters worse.

CTE used a paid data collection option from SurveyMonkey to gather additional results for the 2020 Benefits and Salary Survey. Get a better understanding of how subscriber results compare with results from the survey service.

Cutting Tool Engineering's 2020 Benefits and Salary Survey shows that the incomes of many metalworking professionals are stagnant or down slightly.n

Eight out of 10 manufacturing employees continued to work full-time on-site, according to an online survey conducted by MC Machinery Systems to measure the pandemic's impact on the industry. Results from the survey, which included 351 participants, are highlighted in the information graphic "The Impact of the Covid-19 Pandemic on the Manufacturing Industry" (seen below).n

Mazak Corp. Canada plans to open a new Technical Center in Western Canada to provide local access to direct sales, service, application and training support, the company announced in a news release dated July 15. The new facility, which will be located in Edmonton, Alberta, is set to open in September.n

Members of the National Tooling & Machining Association and Precision Metalforming Association say more federal programs are needed.

More than 97% of companies surveyed among Cutting Tool Engineering's subscribers reported that they remain open for business.

The Coalition of American Metal Manufacturers and Users issued the following statement.

Washington, D.C. A survey of members of the National Tooling and Machining Association and Precision Metalforming Association shows the importance of the Small Business Administration's Paycheck Protection Program, with more than 91% of respondents reporting that they have applied for and received a PPP loan to retain employees they otherwise would have furloughed or terminated.

U.S. cutting tool consumption totaled $189.8 million, according to the U.S. Cutting Tool Institute (USCTI) and AMT – The Association For Manufacturing Technology. This total, as reported by companies participating in the Cutting Tool Market Report collaboration, was up 0.9 percent from February's $188.2 million and down 9.8 percent when compared with the $210.4 million reported for March 2019.

Cleveland - Members of the National Tooling and Machining Association and Precision Metalforming Association are stepping up to meet the challenges created by the COVID-19 pandemic and leading the way in displaying the true American spirit of joining together to make a difference. In addition to producing -- without disruption -- the tooling, machinery and parts that make up the backbone of the manufacturing supply chain and are essential to restarting America's economy, member companies are working to help communities, first responders and the medical community in the fight against the virus.