As stated in an article by Alcynna Lloyd and Madison Hoff, posted March 4, 2022 on insider.com, construction wages are 6% higher than this time last year, marking the fastest growth in 40 years.
Citing the U. S. Bureau of Labor Statistics as its source, the Lloyd/Hoff article reports that in February 2022, “the construction industry overall added 60,000 jobs and wages for non-supervisory positions saw the fastest rate of growth in 40 years.” The article also relates that “average hourly earnings in construction are up 6% on a year-over-year basis in February, the fastest pace since 1982,” a quote from Odeta Kushi, Deputy Chief Economist at First American Financial Corporation.
Lantz is among the many construction companies that have led to this positive change. At Lantz, we are constantly reviewing and adjusting wages accordingly; additionally, team members are provided with excellent benefits and means to save for retirement.
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