The construction industry is known for its complex and fluctuating costs. To effectively budget for a construction project, it’s essential to consider all the different labor costs. Here are some ...

Direct labor rates are the labor costs directly resulting in the production of a product or delivery of a service. These costs include wages as well as payroll taxes, insurance, retirement matches, ...

From 2021 to 2023, the construction industry faced a tumultuous economic climate, marked by a confluence of challenging trends that have tested the resilience of industry executives. This period saw a ...

With labor being the greatest risk in construction, a full understanding of labor components will provide the estimator with the ability to determine a project’s labor costs as accurately as possible.

Tight labor markets have raised concerns about the role of labor costs in persistently high inflation readings. Policymakers are paying particular attention to nonhousing services inflation, which is ...