Sometimes a rush of federal aid can even help an area boost jobs after a storm, he said. Most settlements negotiated in 2024 were previously bargained in 2021 (typically during the summer months), before the surge in inflation. So far in 2024, a fourth of the settlements were at least 6.0%.” Among 15 crafts, pipefitters/plumbers had the largest increase, 6.3%. Multifamily units under construction declined for the 11th month in a row, by 3.5% and 17% y/y. “Our research suggests that between April 1, 2024 and July 1, 2024, the national average increase in construction cost was 1.07% (4.28% annualized),” consultancy Rider Levett Bucknall reported on October 4.

Source: CNN October 21, 2024 16:42 UTC