According to the Construction Labor Research Council (CLRC), wage and fringe settlements reported so far this year have resulted in an average first-year increase of 2.2 percent ($1.10) up from 2.2 percent ($1.00) in 2013.
The average second-year increase is 2.5 percent ($1.23) compared to 2.6 percent ($1.30) a year ago. The average third-year increase is 2.5 percent ($1.28), which is .1 percent lower than the 2.6 percent ($1.34) reported last year. Three-year collective bargaining agreements continue to be the norm. To date, 42 percent of settlements have been for one year.
To date, the average first-year 2014 sheet metal increase has been 1.9 percent ($1.13). The average second-year sheet metal increase has been 2.1 percent ($1.29) and the average third-year sheet metal increase 2.23 percent ($1.50). The most common sheet metal contract term this year is three years, however; there have been one rollover, three 1-year agreements, five 2-year agreements, two 4-year agreements, and one 5-year agreement.
For a copy of the report, contact Jason Watson, director of labor relations (email@example.com / (703) 803-2981).