ADP’s newest construction jobs and wage data were released this morning. The jobs data is based on ADP payroll data covering more than half a million companies and more than 25 million employees. The pay data tracks the wages and salaries of a cohort of almost 10 million employees over a 12-month period. So, the job stayers and job changers pay numbers are based on actual, anonymized individuals who have their pay tracked over 12 months.
Highlights for the construction sector:
- Construction sector added 4,000 jobs in October, the 5th most out of 10 industries.
- For job stayers in the construction sector, wages grew by 5.8% YoY compared to October ’22. The median annual pay in October ‘23 was $67,600 for the construction sector.
- The 5.8% wage growth was 5th highest out of 10 industries behind leisure/hospitality (6.6%), education & health services (6.3%), financial activities (6.1%), and other services (5.9%).
- The median annual pay was 3rd highest behind only information ($82,700) and professional/business services ($75,500).