2018 Wage Survey Suggests Another Strong Year for the Construction Industry
This CliftonLarsonAllen (CLA) report focuses on construction industry trends in wages and hiring. These two issues can raise a lot of questions the minds of construction business owners.
Contractors want to know how to retain and attract talented management and trades people. They are concerned about the amount of compensation and benefits to offer. And there are a whole new set of issues raised by changes in the tax code that are beyond the scope of this report.
In short, while there are always challenges in the construction industry, there is much to be hopeful about in the coming year.
Survey highlights wages and employment
Some of the most important decisions leaders make involve wages. The results of this survey suggest an atmosphere of industry growth for the near future.
- Nearly three-quarters of respondents say their construction business is thriving.
- Increases in construction wages continue to outpace increases in the average private market wages.
- Forty percent of contractors surveyed have more employees than the previous year.
- Four out of five contractors expect to hire additional employees within the next 12 months or sooner, and nearly 40 percent have immediate hiring needs.
Regional wage information
This report focuses specifically on Colorado, Utah, and Nevada and provides a summary of current wages for a wide range of positions and trades. These tables can help you understand the construction wage rates in these specific states as well as the broader region.
How we can help
Contractors face unique challenges, and we believe you shouldn’t have to face those challenges alone. We want to be there to help you. Research is useful, but sometimes you just need an experienced professional to help you understand the issues you’re facing so you can resolve them. CLA can help you position yourself to create opportunities in the future.Download the Survey