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Residential Building Workers See Jump in Wage Growth

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Labor + Trade Relations

Residential Building Workers See Jump in Wage Growth

Housing industry worker wages have been trending upward over the past eight months, but February saw wages grow the fastest they have in more than two years

April 8, 2024
Construction worker leveling concrete on jobsite
Image: Branko / stock.adobe.com

The shortage of skilled labor continues to be a challenge for the construction industry, and demand for construction labor remains strong. In February, the number of open construction jobs increased to 441,000 from 425,000 in January, the National Association of Home Builders' Eye On Housing reports.

According to the U.S. Bureau of Labor Statistics (BLS) report, average hourly earnings (AHE) for residential building workers* was $31.40 per hour in February 2024, increasing 6.2% from $29.57 per hour a year ago. This was 14.8% higher than the manufacturing’s average hourly earnings of $27.36 per hour, 7.9% higher than transportation and warehousing ($29.10 per hour), and 14.1% lower than mining and logging ($36.55 per hour).

Note: *Data used in this post relate to production and nonsupervisory workers in the residential building industry. This group accounts for approximately two-thirds of the total employment of the residential building industry.

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