Residential Building Wages Continue to Increase
According to the Bureau of Labor Statistics, average hourly earnings for residential building workers was $30.71 per hour in November 2023, increasing 4% from $29.52 per hour a year ago. This was 14.1% higher than the manufacturing industry’s average hourly earnings of $26.91 per hour, 8.9% higher than transportation and warehousing ($28.19 per hour), and 12% lower than mining and logging ($34.91 per hour).
Overall, average hourly earnings for residential building workers increased at a relatively slower pace in the past year, compared to the peak rate of 8% in October 2021. Wage growth has been below 4% in the past 12 months, decelerating to 0.6% in June 2023. November’s acceleration in wage growth reflects an imbalance in the construction labor market. Demand for construction labor remained strong.
Jing Fu, NAHB director of forecasting and analysis, provides more details in this Eye on Housing post.
Latest from NAHBNow
Economics
Sep 30, 2026
Data Center Boom Helps Offset Softer Construction Hiring
Construction job openings declined in August. However, strength in certain subsectors like data center construction (up 46% year over year) is creating demand for construction workers.
Economics
Sep 29, 2026
Reminder: Tell Us How Rising Costs Are Impacting Overall Construction Costs for Single-Family Homes
NAHB’s Economics team is measuring how elevated costs across the residential construction industry impact the cost to build single-family homes. And we need your help.
Latest Economic News
Economics
Sep 30, 2026
PCE Inflation Remains Elevated
The Federal Reserve’s preferred inflation gauge remained elevated in August, complicating the Fed’s path to its 2% target. Core PCE held at 3.0% year-over-year for the third consecutive month. Though the reading came in lower than expected, it’s not necessarily a sign of disinflation.
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.