INDIANAPOLIS—Wages and expected new hirings in the mold manufacturing industry have dipped slightly, but demand remains high.
The American Mold Builders Association released its 2019-20 wage and salary report and noted that the 100 U.S. mold building companies that responded said salaries dropped an average of 2 percent compared to the 2018-19 report.
When it comes to hiring expectations, 64 percent of shops said they expect a need to fill roles, down from 75 percent of shops in the previous survey, the Indianapolis-based group said.
The biggest need for future employees is for people to fill technical positions, with 76 percent of openings expected to be for those jobs.
While the average age of mold shop workers has dropped slightly, with 61 percent of the workforce under the age of 50, that is still a "significantly lower percentage" than the 70 percent of workers younger than 50 in 2006.
"For this reason, initiatives to attract youth into the mold building sector continue to remain a top priority in 2020," AMBA said in a Jan. 6 news release.
The report is available at the AMBA website, priced at $129 for members and $229 for nonmembers.