According to the latest Contractor Compensation Quarterly (CCQ) published by PAS, Inc., construction executive staff wage increases came in at 4.3% for 2021 and are also projected to rise by an average 4.3% by 2022 year-end. Though the projected 2022 increase is 4.3%, it is pointed out that historically executive staff predictions are low, so year-end 2022 increases might come in even as high as 4.8%.
Contractors Must Continue to Comply with Existing Regulations
Aligns with Executive Order Proposing Pay History Ban for Federal Contractors
Aligns with Executive Order Proposing Pay History Ban for Federal Contractors
Business Development within the construction industry presents multiple challenges as competition levels rise, continued supply obstacles occur, and labor shortages pressure companies to do more with less. On this episode, members of ÎÚÑ»´«Ã½â€™s Business Development Forum – Chris Martin, President at Atlas Marketing and Tonya Byrd (Jackson), Business Development Manager at Gilbane Building Company – discuss these challenges and share best practices and methods to help your construction company grow.
ÎÚÑ»´«Ã½ of America’s Union Contractors Committee will meet during the association’s 2022 Annual Convention on Wednesday, March 30, at 1:00 p.m. in the Gaylord Texan’s Grapevine 5-6 rooms. All union contractors and chapter staff registered for the Convention are encouraged to attend.
In a favorable decision issued March 11, the TN Court of Appeals agreed with ÎÚÑ»´«Ã½ of America and ÎÚÑ»´«Ã½ of Tennessee that a subcontractor cannot sue a general contractor on one and the same set of facts for not only breach of contract (seeking to recover its purely economic losses) but also in tort for misrepresentation (seeking compensatory and punitive damages). The court of appeals ruled that the subcontractor’s ability to recover monetary damages was limited by its contract with the general contractor. As such, the court vacated the lower court’s award of punitive damages because they were not permitted under the contract.
Prices of construction materials used in new nonresidential construction jumped more than 21 percent from February 2021 to February 2022, according to an analysis by the Associated General Contractors of America of government data released today. The association noted that more recent price announcements made after the February data was collected suggest contractors are experiencing even worse cost pressures this Spring.