Tag Archive for ‘residential building’

Residential Building Worker Wage Growth Slowed

Average hourly earnings for residential building workers* rose at a slower pace in November. After reaching the highest rate (8%) of 2021 in October, the pace of wage growth has retreated and remained below 4% for the past five consecutive months. The recent slowdown in wage growth will ease inflation pressures. According to the Bureau of Labor Statistics (BLS) report,… Read More ›

Residential Building Wage Growth Slowing

Average hourly earnings for residential building workers* continue to rise in August but at a slower pace. Wage growth has retreated from the highest rate of 2021. The recent housing slowdown indicates that, while labor demand is still high, employers are cautious about hiring amid a slowing economy and rising interest rates. According to the Bureau of Labor Statistics (BLS)… Read More ›

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 2022, increasing 5% from $27.79… Read More ›

Residential Building Worker Wages Continue to Rise

Compared to a year ago, average hourly earnings for residential building workers continue to rise, as the construction labor market remains tight. According to the Bureau of Labor Statistics (BLS) report, average hourly earnings (AHE) for residential building workers were $28.66 in February 2022, increasing 6% from $27.01 a year ago. This was 16.7% higher than the manufacturing’s average hourly… Read More ›

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 residential building sector. According to… Read More ›