In the construction industry, labor costs are a significant portion of project expenses (high labor cost percentage). Accurate calculation is crucial for bidding, budgeting, and project profitability. Here’s how to approach it. Here is a list of direct labor costs in the construction industry: ...
Labor optimization plays a critical role in enhancing construction project performance. Trade contractors can achieve significant benefits by strategically managing labor resources, including enhanced productivity, cost savings, improved quality, and increased employee satisfaction. The ROI of optimizing labor i...
that the union workers are less loyal to the organization than non-union members are; therefore, loyalty would cause union employees to invest less than stand-alone employees in their company stock. To support this claim, the author displays that union employees invest nearly six percentage points...
ADP data show that the wage premium for switching jobs was trending up but still one percentage point lower than a year ago (7.1% in December 2024 compared to 8.1% in December 2023). For those who stayed in their jobs, the median wage increase in December was 4.6%, the lowest since Ju...
When employees get worker's compensation, they get a pre-determined percentage of their normal pay. This insurance also pays for medical treatments that are deemed necessary, as well as vocational rehabilitation. Hazardous Work and Industry-Specific Protections Certain industries, such as construction,...
(2010) found that a 1 percentage point increase in population growth leads to a 0.24% increase in housing costs in the metropolitan area of Michigan. A particularly interesting study is provided by Gonzalez and Ortega (2013) who, in addition to the effect on house prices, estimated the ...
McKinsey’s recent American Opportunity Survey underscores the depth of appetite for reskilling in the industry.6 Fifty-eight percent of workers across the construction value chain plan to pursue future training, education, or credentialing opportunities, 17 percentage points higher than the ...
In summary, the percentage of workers belonging to a union is higher for men than women; higher for blacks than for whites or Hispanics; higher for the 45–64 age range; and higher among workers in government and manufacturing than workers in agriculture or service-oriented jobs. Table 1 lis...
percentage alteration in the quantity of company’s employees over year t-5 to t-1; Laborit-1 is measured as the number of employees divided by company’s total assets in year t-1; Abinvit refers to the abnormal other (non-labor) investments for company i in year t, which is ...
Introduction: The History and Social Construction of the Labor Market Thelabor marketand private property are the two fundamental and interrelated institutions of capitalisteconomic systems. In conventionaleconomic theory, labor is considered as a factor of production along with capital, land, and knowled...