St. Cloud Construction Workers Have Seen a 2.1% Wage Increase

Despite wage growth, few industries have seen those bumps stay in the overall positive after being adjusted for inflation (succinctly referred to as 'purchasing power'). One industry has, and it's even a booming one.

Construction, and not all states are experiencing the boom like Minnesota is.

St. Cloud Metro Construction Worker Wages Are Outpacing Inflation

Photo by Glenov Brankovic on Unsplash

Less than half of the states in the union saw inflation-adjusted wage growth, but Minnesota is one of them.

Mean annual earnings for St. Cloud-area construction workers grew from $54,310 in 2018 to $67,290 in 2023; an increase of 23.9% overall, but only a 2.1% increase when adjusted for inflation. Still, it's an increase.

Maine construction workers saw the biggest inflation-adjusted increase at 6.2%, while Wyoming saw the biggest net loss of purchasing power at -7.3%. That's my second article in a row that sees Wyoming not doing so hot.

It's good news for all of the workers among the seemingly-billions of construction projects we get to navigate this summer! If only radio jocks were in the same boat...

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H/T: Construction Coverage

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Filed Under: inflation, wages

Categories: Local News