Inflation Fields Weak Team,
Wins Anyway
Though inflation has been
relatively low, it has outpaced
the growth of construction
wages over the last three years.
Since 1986, weekly wages for
skilled construction trades
have risen a total of 8.9% (3%
in 1987, 1.5% in 1988, and
4.2% in 1989 according to the
U.S. Bureau of Labor Statistics).
This compares to an
inflation rate of 13% over the
same period (3.7%, 4.1%, and
4.7%). In other words, the
average construction paycheck
has lost about 4% in buying
power since 1986.
But there's good news for
carpenters. Their wages have
grown 13.8% since 1986
(4.9%, 4.4%, and 3.9%), just
.8% above the overall 13% rise
in the cost of living. ?
A Silver Lining in California's
Drought
While California's