Residential building construction industry wages are up significantly, saysEye on Housing's Na Zhao. In some areas, wage growth surpassed three times that of the national average from 2010 to 2015 due to rising job openings and employment.
According to Quarterly Census of Employment and Wages (QCEW) data from the Bureau of Labor Statistics, the average annual pay for residential building construction was $50,806 in 2015, 19% higher than the lowest point seen in 2010.
Compared to the average for all industries, residential building construction has experienced more rapid wage growth rate since 2012. The average annual pay for residential building construction employees increased by about 5% in 2014 and 2015 while the national average for all industries only rose 3% a year during the same period.