January 29, 2024

2022 Actual and 2023 Forecast

2022 Actual and 2023 Forecast Construction

The Contractor Compensation Quarterly (CCQ) is especially designed for the busy construction executive that needs to keep abreast of competitive compensation and benefit levels within the industry.

Based on 234 companies in this 20th edition of the Construction Support Staff Salary Survey, excluding 0% projections, contractors are anticipating 2023 construction support staff wage increases to average 4.4% by year end, down from the 2022 actual increase of 5.0%. When we factor in those very few contractors who are freezing pay, the projected 2023 increase rounded out to also 4.4%. These 2023 year-end projections are most likely low by .3% to .5%. Looking forward, we think 2024 support staff increases will likely mimic 2023 activity, unless construction conditions change.

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