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Construction Wages During The United States Essay

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Construction wages in the United States are increasing. with wWages are expected to rise 2.4% in 2015. Skilled-trade workers’ wages are rising even more rapidly at 4.6% this year. Unemployment rates in construction are decreasing and the pool of available workers is shrinking., which has resulted in a higher demand for skilled workers from a smaller construction labor force . This has caused is causing a shortage of skilled workers and an upward pressure on wages to increaseincreasing upward pressure on wages. One potential area of relief is the growing movement by state governments to repeal prevailing wage laws. Prevailing wage laws ensure that government contractors pay workers at a pre-determined level based on location and trade. These wages tend to be higher than the market wage and increase labor costs for government contractors. The one relief that many contractors have is the increasing number of states beginning to repeal the prevailing wage laws, which will help stop the increase in construction wages and may even cause a downside wage correction. With construction wages on the rise, state governments repealing prevailing wage laws may take some upward pressure off of construction wages and lower labor costs.

IHS compiled a dataset of prevailing wages amongand market wages electricians and market wages among electricians. In comparing the regional market wages for electricians to their prevailing wage rates We we found that prevailing wage premiums were

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