Rising Construction Wages Emphasize Continued Labor Shortage Troubles
The individual hourly wages rose 21.1% from 2021 to 2024 for construction works despite the overall number of construction jobs being behind the national growth rate across all other industries. The shortage in construction labor leads to longer construction timelines and in return higher prices for both builders and consumers. However, not all states faced the same struggles as some experienced the opposite where wage growth was lower than expected while the number of construction jobs rose dramatically in the same period.
