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Construction labor costs remain stable in tightening market

​After a record year of construction and deliveries, the development pipeline will likely continue to grow given the demand and health of the market. In turn, this trend will increase the demand for construction labor. The region has 55,477 construction workers.

  • From 2012-2017 the region added 12,500 new construction jobs, growing by 29  percent in this sector.
  • Charlotte added 1.3 million square feet of new office space in 2017.
  • Currently have 1.9 million square feet of office space under construction, 3.7% of existing inventory.
  • Charlotte has the lowest construction labor costs in the southwest  at $13.14 per hour. ​​

Source: JLL Research




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