Construction Worker Wages Are Growing Incredibly Fast

Residential construction worker wages are growing at a 5 percent annual pace, almost double the 2.9 percent pace of wage growth for all workers. As of March, the average U.S. residential construction wage nationwide was about 13.7 percent above the average private-sector wage. Residential construction wages have picked up a lot more than construction starts. If the residential construction labor market today resembled the residential construction labor market of the mid-2000s, the country likely would be seeing substantially more new home construction than it currently is.


Source: Zillow Research

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