Dive summary:

• Associated General Contractors of America calculates that the average cost of construction-industry workers, including wages and other charges, averaged a 2% rise from the first quarter of 2012 to the quarter that ended March 31.
• If that sounds low, AGC Chief Economist Ken Simonson said, it's because residential building had the biggest growth during the period and residential wages tend to be lower than commercial pay.
• While the industry unemployment rate is about double the national average, Simonson said, hiring is faster than the national pace and many workers have dropped out of the trades, and that will put pressure on employers to pay more.

From the article:

The industry added more than 300,000 workers to payrolls over those two years and is on pace to add that many in the next 12 months. ...