KEY POINTS
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June construction employment increased by 11,000, with nonresidential specialty trades adding 14,000 jobs, nonresidential building adding 3,000, and heavy and civil contributing 3,000 more.
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Residential hiring weakened overall gains as residential specialty trades lost 6,000 jobs and residential building shed another 3,000 positions.
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Construction workers continued to earn more than the broader private sector, averaging $41.36 per hour and $1,625 per week, but wage growth is still outpacing project bid price growth.
June construction employment rose by 11,000. Nonresidential Specialty trades led with 14,000 new positions; Nonresidential Building added 3,000 and heavy and civil contributed another 3,000.
Strength in Nonresidential construction was partially offset by job losses in Residential Specialty trades which shed 6,000 jobs and Residential Building lost 3,000. Nonsupervisory construction workers averaged $41.36/hr. while total private sector wages reached $37.64/hr.
Construction workers averaged five more hours of work per week at 39.3 hours compared with 34.3 for the broader private sector. That combination puts weekly construction earnings at $1,625, a premium of $334, or 26%, over private sector weekly earnings of $1,291.
Image: ConstructConnect
The current annual rate of construction wage growth at 4.3% remains well above that of the private sector. Concerningly, wages continue to grow significantly faster than project bid prices, which grew by only 3 to 3.5% during the first half of the year.
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