A new Construction Labor Research Council (CLRC) Settlements Report finds that collective bargaining agreements settled from January through September 2024 saw an average total package increase of 4.7%. The CLRC notes despite cooling inflation, settlement increases remain high due to the multi-year nature of collective bargaining cycles still reflecting the recent surge in inflation. On a dollar value basis, the increase was $2.95, the same compared to the first three quarters of 2023. Similarly, contracts saw a substantial jump from 2020 due to inflation. Regionally, the Mountain Northern Plains region saw the highest increases and the smallest increases were in the Northeast, both consistent with 2023. All crafts saw an increase in dollar amount with eight crafts having a larger increase compared to the same period in 2023.
AGC members can access the full report in the Labor & HR Topical Resources area of AGC’s website under the main category “Collective Bargaining” and subcategory “Collective Bargaining Agreement Data.” (Be sure to first login as an AGC member in the top left corner of the webpage.) It covers much more information, including data by region and craft. Note that the first half of the report provides an analysis of data from newly settled agreements as discussed above, while the second section also covers data from previously negotiated agreements that are currently in effect and increases planned for subsequent contract years.
The report is the second of three Settlements Reports planned for publication based 2024 data. CLRC expects to publish the final Settlements Report for 2024 in January 2025.
Collective bargaining chapters are reminded to please send new contract data directly to CLRC promptly upon settlement of collective bargaining negotiations. Chapters and members are also reminded that CLRC offers consulting and custom research services on local matters at a discount to AGC affiliates. This includes market share analysis, union/nonunion wage and fringe benefit comparisons, collective bargaining agreement language cost analysis, workforce/labor analysist and projections, and more.