Contractors Expect to Raise Open Shop Pay 4.8%, Staff Pay by 5.1%
Open shop construction contractors indicate that they expect to increase craft wages by an average of 4.8 percent in 2007, according to a recent survey conducted by PAS, Inc.
Based on historical experience and other factors, PAS projects that increases will actually be around 5.5 percent nationally and may reach 7 percent in the Gulf Coast area. In 2006, actual increases averaged 4.9 percent or 5 percent when zero-increases are excluded.
PAS survey respondents also indicated that they expect to raise construction executive salaries by an average of 5.1 percent in 2007-08, to raise exempt professional salaries by 3.9 percent, and to raise other staff salaries by 4.2 percent. However, PAS projects actual increases in 2007-08 to be in the range of 4.7 percent to 4.8 percent. In 2006-07, non-craft construction staff received an average salary increase of 4.0 percent and construction executives received an average increase of 5.0 percent, according to PAS reports.
For more information on PAS survey reports, visit www.pas1.com.
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