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
Safety
Sep 29, 2026
NAHB Launches Social Media Video Series: Safety Tip of the Week
NAHB has launched the Safety Tip of the Week, a video series featuring quick tips focused on one narrow aspect of residential construction jobsite safety.
Education
Sep 28, 2026
Utilize Competive Analysis Tools to Boost Home Sales Skills
Despite persistent affordability challenges including elevated mortgage rates, new home sales improved in August. Now is a great time to sharpen home sales skills.
Latest Economic News
Economics
Sep 29, 2026
Consumer Confidence Fell in September
Consumer confidence in September plunged to the lowest level since April 2014 as consumers grew more pessimistic about current conditions and the economic outlook.
Economics
Sep 29, 2026
August Construction Job Openings
The number of open positions in the construction sector fell back in August per the Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS). The current level of open jobs is down from three years ago due to declines in construction activity, particularly in housing.
Economics
Sep 28, 2026
Market Share of 5,000+ Sq. Ft. Homes Edges Higher in 2025
New homes with 5,000 square feet or more of living space posted an increase in market share last year. In 2025, 27,000 homes of this size were started, accounting for 2.9% of all new homes started. Both the number and market share of homes with 5,000 square feet or more increased from 2024, according to annual data from the Census Bureau’s Survey of Construction (SOC).