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), average hourly earnings for residential building workers was $28.66 in February 2022, increasing 6% from $27.01 a year ago.
Earnings for residential building workers have increased significantly since the COVID-19 pandemic recession. Between December 2019 and December 2021, average hourly earnings increased about 12%.
Jing Fu, NAHB director of forecasting and analysis, provides more in this Eye on Housing post.
(Article courtesy of the National Association of Home Builders)