PAS Contractor Compensation Quarterly, The Marcum Edition Third Quarter 2023

PAS Contractor Compensation Quarterly

The Marcum Edition - Third Quarter 2023

Merit Shop Contractors 2022 and 2023

Merit Shop contractors anticipate skilled craft hourly wage increases of 4.45% in 2023 (4.30% including zeros). Actual increases for 2022 were 5.02% (including zeros) and 5.10% (excluding zeros).  These increases are across the board for all craft, contractor types, sizes, and regions of the country.  WorldatWork reports 2023 actual construction increases at 4.4%.  Historically, projected numbers from survey participants are slightly lower than the actual year end figure.