One-year pay increase: 3.1
After getting hit hard in the housing bust, Phoenix’s construction industry has come roaring back to life.
The number of construction jobs grew by 15% year-over-year in May, according to the Bureau of Labor Statistics. And now builders can’t find enough workers to meet demand, forcing them to pay top dollar to attract employees.
Nationally, construction job wages grew 2.9% last year but the uptick was faster in Phoenix, especially for the most skilled workers, according to Barry Broome, CEO of the Greater Phoenix Economic Council.
The “Florida of the West,” Phoenix attracts many retirees every winter looking for warmer climes. The city has also been attracting Californians, with some 50,000 moving to the area in the last year, according to Broome.
Many have come to take high-paying jobs in a reviving software industry, he said. They also want to take advantage of much lower living costs. The cost of housing in Phoenix is about 56% lower than in Los Angeles and 69% less than in San Francisco.
