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NYC Construction Jobs Inch Downward as Wages Increase Modestly
NYBC Construction Outlook Updates
Construction employment in New York City reached 102,600 in the first quarter of 2012, which is a three percent decline from the same period a year ago and the lowest level of industry employment since the first quarter of 1999, according to a New York Building Congress analysis of New York State Department of Labor employment statistics.
The average wages earned by construction workers continues to increase gradually. Construction workers in New York City earned an average of $51,000 in the first nine months of 2011 (the latest period for which data are available), compared to $49,200 for the same period in 2010 and $48,600 during the first nine months of 2009. Given that fourth quarter earnings are generally highest, due to year-end bonuses, it appears that annual earnings in 2012 will top $70,000 for the first time in New York City. Annual earnings reached $69,700 in 2010 and $69,300 in 2009.