America Major Report - Fit-out Cost Guide September 2016
- Despite the global collapse of commodity prices, local prices of construction have not fallen.
- The size of the construction workforce remains well below pre-recession levels, which has led to labor shortages in several major markets.
- Supply-demand imbalances have contributed to strong growth in average construction wages, particularly in the Southwest.
- The pace of overall construction cost inflation has been moderate in recent years, relative to the prior cycle.