Wednesday, January 16, 2008

Construction Salaries Inch Up in December, But So Does Inflation

Hourly earnings for construction increased 5.1% in December compared to the same month last year, according to figures released today by the Bureau of Labor Statistics. Construction workers earned an average of $21.56 per hour during the month, up 1.2% from November. That is the equivalent of $10.15 in 1982 dollars.
Weekly salaries for construction workers averaged a 4.1% increase year-over-year to $822.91, ($387.51 in 1982 dollars) down 0.7% from November.
By way of comparison, hourly salaries were up 4.1% to an average of $17.77 for all workers year over year, and weekly salaries up 4.7% to an average $605.96.
Inflation continued to inch upwards in 2007, according to the BLS, rising 4.1% during 2007. December's increase, though was just 0.3%, down from 0.8% in November.

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