KEY POINTS
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March’s reading of a 26,000 job gain in the construction sector marks the eighth consecutive month of volatile and oscillating job gains and losses.
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Among construction job subsegments, sub-trades residential, increased by 11,000, offsetting its historic loss of 11,000 jobs from the prior month.
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The combination of both a higher hourly March wage, and more hours of available work each week, has brought total weekly construction compensation to $1,604, a premium of $326 or 25%, over the average weekly private sector.
March’s reading of a 26,000 job gain in the construction sector marks the eighth consecutive month of volatile and oscillating job gains and losses.
Among construction job subsegments, sub-trades residential, increased by 11,000, offsetting its historic loss of 11,000 jobs from the prior month. Following behind was nonresidential building jobs with a March gain of 5,000.
This marks the fifth consecutive month of gains for the subsegment which has now added a total of 24,000 jobs since November. Engineering/civil and sub-trades nonresidential reported the lowest level of gains for the month at just 4,000 each.
The combination of both a higher hourly March wage and more hours of available work each week has brought total weekly construction compensation to $1,604, a premium of $326 or 25%, over the average weekly private sector. Image: ConstructConnect
Construction Wages Rise
The average construction wage in March rose to $40.92/hr. while total private sector wages also increased to $37.38/hr. The difference in the average number of hours worked per week remains historically elevated.
In the latest survey construction workers averaged 39.6 hours of work each week, marking five hours of additional work opportunity compared to the typical private-sector worker.
This combination of both a higher hourly wage and more hours of available work each week has brought total weekly construction compensation to $1,604, a premium of $326 or 25%, over the average weekly private sector.
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