After years of historically high salary increases for construction staff, many employers appear to have hit the ceiling for the compensation bumps they can offer.
After years of steady increases, wages for many craftworkers have jumped recently, pushed up by the pressures of a hot economy, high inflation and labor shortages.
Labor rates remain relatively steady despite pandemic upheavals, but analysts noted some short-term adjustments to compensation by construction employers in 2020 with ongoing labor shortages continuing to pressure wages.
While demand for experienced construction professionals runs high in many sectors, average compensation remains soft following the uncertainty created by the COVID- 19 pandemic.