As reported by the Association of General Contractors of America, construction staff wages are on the rise.
The AGC cited data in the newest Contractor Compensation Quarterly (CCQ) published by PAS, Inc., which revealed contractors are estimating 2024 construction staff wages to rise at an average of 4.38 percent.This data was reported by over 360 companies in the 42nd edition of the Construction/Construction Management Staff Salary Survey.
The report noted that wages typically increase 0.3 percent to 0.5 percent higher by the end of the year. Therefore, there is a high probilitiy wages will hit 4.7 percent or more this year. According to a WorldatWork pay increase comparison, exempt professionals saw 2023 increases of 4.5 percent across all industries with initial calculated 2024 increases of 4.1 percent.