Construction worker pay has been growing steadily, according to a new survey by the Federal Reserve.
The survey, released on Tuesday, found that construction worker pay is $50,074 higher than the median pay for workers in the private sector, the report said.
Construction worker salaries rose $10,000 from last year, while construction worker wages rose only $6,000, the survey said.
Construction worker salaries grew $10K from last YEAR and wages only increased by $6K, according the Fed survey of construction workers.
Construction worker pay, the Fed said, rose from $35,947 in 2014 to $42,000 in 2019, a jump of 11.6%.
Construction worker wages grew $6M from last yr and wages rose by $8M, according a Fed survey.
Construction workers earn an average of $49,000 a year, the study said.
That is about 10% more than workers in non-Construction and related occupations.
The report also found that there are more construction jobs than non-Contractors and related jobs, the first time in the Fed’s history that this has been the case.
Construction Workers Pay Is RisingFast Construction workers have been earning higher pay since 2016, the Survey of Construction Workers said.
It found that the average hourly construction worker earned $51,067 in 2018, up from $44,097 in 2017.
Construction workers make more than average in most states.
More than half of construction work was performed by contract workers, up 9.4%, the Fed found.
Construction work accounted for 29% of all employment growth in 2018.
Construction jobs grew 11.4% in the year ended in March.
Construction Workers Pay: 2017 Construction workers are earning higher hourly wages, as their pay increases, according an analysis of federal data.
Federal Reserve President Ben Bernanke will present the results of the Survey on Construction Workers and Labor Statistics later this week.
The median wage for construction workers was $34,732 in 2018 with a range of $32,000 to $35.50 per hour.
Construction wages for full-time workers were $34.77 per hour in 2018 and $38.10 per hour for part-time employees, the data showed.
“Construction workers have seen significant wage increases over the past decade,” the Fed report said, adding that the median construction worker salary increased $5,200 in 2018 to $49.78 per hour, which is almost 10% higher than average.
The median hourly construction wage in 2018 was $35 per hour compared to $28.50 for all workers, the Federal Government said.
The average hourly wages for all construction workers in 2018 were $37.50, the Labor Department said.
The median hourly wage for all employees in 2018 is $34 per hour with a wide range of pay levels.
Construction and related workers make up the largest segment of construction worker salaries.
Average Construction Worker Salary $34K+ Construction Worker Pay: 2018Average Construction Workers pay is increasing at an alarming rate.
Construction employees earned $10.2M more in 2018 than they did in 2017, the most recent year for which data is available.
That is nearly 11% more.
Construction wage earners also earned $8.5M more than they do in 2018 compared to the prior year, according and the average construction worker was making $30.30 per hour or $45,664 more than the prior workers, according, the U.S. Census Bureau said.