Residential Building Worker Wages Grow Rapidly
Average hourly earnings for residential building workers have been growing fast recently, driven by the tightening construction labor market.
Last Friday, the Bureau of Labor Statistics (BLS) reported that the unemployment rate declined to 3.9% in December, the lowest rate since the pandemic. According to the BLS report, average hourly earnings for residential building workers were $28.74 in November 2021 — an increase of 7% from $26.87 a year ago.
During the COVID-19 pandemic recession in March and April 2020, average hourly earnings for residential building workers rose about 2% compared to the prior year. Since June 2020, average hourly earnings’ year-over-year growth rates for residential building workers have trended higher. In October 2021, the growth rate reached 8% — the highest year-over-year gain since February 2019.
Jing Fu, NAHB director of forecasting and analysis, provides more in this Eye on Housing post.
Latest from NAHBNow
Economics
Nov 09, 2026
Remodeling Activity Holds Flat in Second Quarter Amid Housing Slowdown
Remodeling activity was flat in the second quarter amid a broader nationwide housing slowdown, according to NAHB's State Projections of Remodeling (SPR). The SPR provides a quarterly, state-by-state analysis of remodeling spending, market share and changes in spending.
Advocacy
Nov 06, 2026
NAHB Monthly Update: What the Midterms Mean for Housing
NAHB’s Monthly Update equips members and HBA staff with timely talking points on the Federation’s top housing priorities. This month’s update covers the post-election outlook for housing, progress on permitting reform and NAHB’s response to the latest WOTUS proposal.
Latest Economic News
Economics
Nov 09, 2026
Residential Building Worker Wage Growth Rebounds, but Real Wages Continue to Decline
Wage growth for residential building workers showed signs of a modest rebound in September 2026 following a sharp slowdown earlier in the year. According to the latest data from the U.S. Bureau of Labor Statistics, nominal wage growth picked up from its June pace, although it remained relatively modest.
Economics
Nov 09, 2026
Remodeling Activity Holds Flat in Second Quarter Amid Housing Slowdown
The National Association of Home Builders (NAHB) has released its State Projections of Remodeling (SPR) for the second quarter of 2026. As a reminder, the SPR provides on a quarterly basis a state-level estimation of the market share and total dollar value of remodeling spending.
Economics
Nov 06, 2026
Hiring Rebounds in October, but Residential Construction Employment Declines
The U.S. labor market rebounded in October, with nonfarm payroll employment increasing by 165,000 jobs and the unemployment rate declining to 4.1%. However, the improvement in overall employment contrasts with continued weakness in residential construction, where employment fell by 16,400 jobs, the largest monthly decline since March 2021.