The average increase in labor wage seems to match the increase in cost of living from year to year. Here are answers to some of the most frequently asked questions from Gordian’s leading cost engineers: 1. With all of this uncertainty, it is natural for construction professionals to have many questions about how and why costs are changing and how we keep track of industry trends. When we asked the 1,400+ attendees of our 2023 Construction Cost Trends Webinar how they would describe the last three years of working in the industry, some of the most common responses included words like unpredictable, volatile, chaotic and stressful. This is especially true for the construction industry. In many ways, the last few years have been a time of uncertainty across all industries.
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