Download SAMPLE Wage & Per Diem Escalation Report
Based on client specifications, Construction Industry Resources will produce a compensation report for a selected region that integrates regional economic prospects, construction activity, skilled labor supply/demand headcount, and projected escalation of wage and per diem rates. The report focuses on wage and per diem forecasts for the current year plus 4 full years out for the selected region which may be one state, multiple states or a particular region (E.g. A greater metropolitan region or the Gulf Coast).
Although the report can be customized to meet specific client needs, here is a typical report Table of Contents…
This report includes:
- A 5-year compensation escalation table (see sample below) with hourly wage (burdened & unburdened) and per diem rates, along with the related annual projected escalation/de-escalation rates.
- The report will contain 2 scenarios (Baseline & Alternative) outlining upside potential and downside risks.
- The report will contain a narrative that supports the escalation table and will discuss the methodology used to collect the data and establish fully-burdened rates. The methodology will also examine historic trends and combine these trends with other relevant independent variables or economic factors to produce the projections of annual escalation rates for wages and per diems. The methodology section will include descriptions of data utilized, sources, analytical methods, and information acquired through academic and industry studies.
- The forecasting methods will be detailed in the report’s narrative along with the implications and policy ramifications of our findings and the forecast table.
- The supply/demand analysis will be sourced by the CLMA® and will include all skilled labor disciplines tracked for the non-residential construction marketplace for the specified region.
- The forecasting analysis will be sourced by our economist and will include the skilled labor disciplines most critical to the industrial marketplace and experiencing the most significant supply/demand imbalance.
- The supply/demand table will include demand by craft and period, Bureau of Labor Statistics supply along with industrial headcount factors, CLMA® Market Supply, and peak demand by headcount and period.
- All raw data supporting the escalation projection will be provided in Excel format.