The three-year, wage-fringe packages negotiated with the Laborers, Carpenters, Cement Masons, Operating Engineers and Teamsters unions include annual increases of 3.6% to 4%--well above the consumer price index for the area, which has been approximately 3% for the past three years. The increase is also slightly higher than most other regions in the country.
The AGC attributes the high level of increase to the high volume of construction being experienced in Western Washington and the desire to keep the construction industry attractive to potential workers.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.