Residential Building Worker Wages Continue to Rise Amid Uncertainty

Average hourly earnings for residential building workers* continue to rise in May as the construction labor market remains tight, meanwhile the growth rate is trending down given tightening financial conditions and increased economic uncertainty. According to the Bureau of Labor Statistics (BLS) report, average hourly earnings (AHE) for residential building workers were $29.18 in May…

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Residential Building Worker Wages Grow Rapidly

Average hourly earnings for residential building workers have been growing fast recently, driven by the tightening construction labor market. Last Friday, the Bureau of Labor Statistics (BLS) reported that the unemployment rate declined to 3.9% in December, the lowest rate since the pandemic. As the labor market remains tight, wages have increased rapidly, particularly in…

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