November 7, 2023
Merit Shop Contractors 2022 and 2023
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.
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.
