Dive Brief:
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Hourly wages for construction workers rose in the third quarter of 2014, the new ADP Workforce Vitality Report revealed.
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Wages across industries also grew in the third quarter, according to the report from the ADP Research Institute.
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Employees of small businesses fared better than those at large companies, according to the report; men’s wages grew more than women’s; and millennial wages are growing fastest among all age groups.
Dive Insight:
It apparently pays to move to a new employer: For construction workers who remained with their existing employers over the quarter, wages increased by 0.6% from the second quarter to the third, the report said. The hourly wages of those who took jobs with other companies, on the other hand, rose 5.1%. Across industries, workers who switched to new jobs grew their wages by 5.3%, while those who stayed put finished the quarter with 0.8% higher earnings than during the prior quarter.