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
Business Management
Mar 17, 2026
New Title from NAHB’s BuilderBooks Offers Advice on Using AI in Residential ConstructionBuilderBooks, the publishing arm of the National Association of Home Builders (NAHB) released a new title, AI in Residential Construction: A Blueprint for Lasting Impact and Success.
Workforce Development | Labor
Mar 16, 2026
DOL to Enforce States’ Compliance with Registered Apprenticeship ProgramThe U.S. Department of Labor (DOL) released guidance requiring states to harmonize their laws, regulations and practices with federal rules concerning the administration of the National Apprenticeship System (NAS).
Latest Economic News
Economics
Mar 17, 2026
Lumber Imports and Employment FallU.S. sawmill production was unchanged in the third quarter according to the Federal Reserve G.17 Industrial Production report. Utilization rates for sawmills and wood preservation industries remained near 70% despite a weakened demand environment from lower levels of residential construction in the third quarter of 2025.
Economics
Mar 17, 2026
Best Year for Missing Middle Construction Since 2007While not a huge jump, 2025 featured the highest construction volume for multifamily missing middle housing starts.
Economics
Mar 16, 2026
Builder Sentiment Inches Higher but Affordability Concerns PersistBuilder sentiment inched up in March even as builders continue to express affordability concerns stemming from elevated construction costs and shortages of buildable lots and labor.