Making Labor Costs More Predictable
The labor shortage in the construction industry is real — and so is its impact on construction budgets.
Seventy percent of contractors responding to the 2017 Associated General Contractors’ Workforce Survey said they had difficulty filling some hourly craft positions. These shortages are reflected in construction hourly wages, which rose 3.7 percent in 2017, according to Engineering News-Record, which tracks average wages across 20 U.S. cities.
But on any given construction project, these national numbers can mean little.