Residential Building Worker Wages on the Rise
Average hourly earnings for residential building workers continue to rise as the construction labor market remains tight. According to the Bureau of Labor Statistics (BLS), average hourly earnings for residential building workers was $28.66 in February 2022, increasing 6% from $27.01 a year ago.
Earnings for residential building workers have increased significantly since the COVID-19 pandemic recession. Between December 2019 and December 2021, average hourly earnings increased about 12%.
Jing Fu, NAHB director of forecasting and analysis, provides more in this Eye on Housing post.
Latest from NAHBNow
IBS
Sep 02, 2025
NAHB International Builders’ Show Registration Opens for Final Time in OrlandoThe National Association of Home Builders (NAHB) officially opened online registration and housing today for the 2026 NAHB International Builders’ Show@reg; (IBS), the largest annual light construction trade show in the world.
Economics
Sep 02, 2025
Single-Family Construction Down in Large Metros, Up in Rural AreasIn a sign of a soft housing market, single-family construction posted declines in nearly every geographic region in the second quarter of 2025, with the largest percentage drop of 3.8% occurring in large metro, suburban counties where most permit activity occurs. And while multifamily output also fell in large metro core counties, most other markets posted multifamily growth in the second quarter, according to the latest NAHB Home Building Geography Index (HGBI) for the second quarter of 2025 released today.
Latest Economic News
Economics
Aug 29, 2025
Multifamily Absorption Rises in the Second QuarterThe percentage of new apartment units that were absorbed within three months after completion rose in the second quarter, according to the Census Bureau’s latest release of the Survey of Market Absorption of New Multifamily Units (SOMA).
Economics
Aug 28, 2025
Mortgage Rates Move Lower, Hitting 10-Month LowAverage mortgage rates in August continued their steady decline and are now at their lowest rate since last November.
Economics
Aug 27, 2025
Wood-Framed Home Share Increased in 2024Wood framing continues to dominate the U.S. single-family home construction market, according to NAHB analysis of 2024 Census Bureau data.