June 27, 2017
With the construction business growing quickly, wages for construction workers rose 5.4% in 2016. It’s the first time since 2008 that wages grew more than 3% in a single year. It’s also the highest percentage increase since 2007, when wages rose 6.4%.
Wages are rising because workers are in demand. For the first time in at least four decades, more than 140,000 people were employed in the construction industry in New York City in 2016.
The number of construction jobs keeps growing, and is likely to reach 147,800 in 2017, based on an analysis of jobs data from the first half of this year by the New York Building Congress.
For comments, questions or concerns, please contact Bendix Anderson