Average hourly earnings in the construction industry increased 5.1 percent from January 2021 to January 2022, the steepest 12-month increase in 15 years of the data being tracked, according to an analysis by the Associated General Contractors of America. The industry average is $33.80 per hour, exceeding the private sector average by almost 7%.
Despite the record wages, construction employment totaled 7,523,000 in January 2022—101,000 jobs or 1.3% less than in pre-pandemic peak month of February 2020. The total was a decrease of 5,000 jobs compared with December 2021.
“Contractors are struggling to fill positions as potential workers opt out of the labor market or choose other industries,” said Ken Simonson, the association’s chief economist. “In addition, soaring materials costs and unpredictable delivery times are delaying projects and holding back employment gains.”
