Industry groups support the federal proposal to rescind a 2024 regulation that makes it harder for businesses to classify workers as independent contracts under the Fair Labor Standards Act. which governs when minimum wage and overtime pay are
required.
The hot pace of construction staff compensation is cooling. Following years of historically high salary increases, employers are reigning in pay for construction staff.
After years of historically high salary increases for construction staff, many employers appear to have hit the ceiling for the compensation bumps they can offer.
Executive compensation has been rising steadily since the pandemic, reaching a high-water mark in 2023. However, a cooldown in several market sectors could result in comp increases receding in the coming years.
After years of steady increases, wages for many craftworkers have jumped recently, pushed up by the pressures of a hot economy, high inflation and labor shortages.