Yes
1 Public contractors may pay at prevailing wage rates without the regulation. 2  Average labor costs, including benefits and payroll taxes, are roughly one-quarter of construction costs. 3  Thus, even if a prevailing wage regulation raised wages by 10%, the impact on contract costs would be less than 2.5%. In a study of new school construction in British Columbia, researchers looked at six years of contract costs before and after the adoption of a prevailing wage law in 1992. Bilginsoy and Philips (2000) found that, without introducing any controls, prevailing wages correlated with 16% higher erence between market and prevailing rates, a premium that would, hypothetically, drive up construction costs in Michigan by 10%. 9 Applying this 10% to state construction costs and non-construction capital outlays resulted in an estimate of $275 million in additional costs due to state prevailing wages. In a study of new school construction in British Columbia, researchers looked at six years of contract costs before and after the adoption of a prevailing wage law in 1992. Bilginsoy and Philips (2000) found that, without introducing any controls, prevailing wages correlated with 16% higher construction costs. (United States). The average wage for a General Contractor is $29.74 per hour. Experience has a moderate effect on pay for this job. Skills that are associated with high pay for this job are Sales, Contractor Management, Construction Estimating, and Project Management. A general contractor oversees a variety of construction projects. Normally, the contractor is called in when someone wants to create a new building for business or residential purposes; however, contractors may also work in remodeling and renovation of existing structures as well. 1 If the health and welfare portion of the prevailing wage is $5.05 per hour, the contractor/subcontractor can take a credit of $3.00 per hour and must pay $2.05 ($5.05-$3.00) additional on the hourly base wage. 1 If the allowable health and welfare portion of the prevailing wage is $5.05 per hour, the contractor/subcontractor can take a credit of $5.05 per hour. 2  The contractor/subcontractor cannot receive an additional credit of $1.00 ($5.05 - $6.05), which can apply to reducing the hourly base wage that must be paid (United States). The average pay for a Construction Contractor is $20.83 per hour. The skills that increase pay for this job the most are Quality Assurance / Quality Control and Project Management. Experience strongly influences income for this job Industries. In 2011, nonresidential building construction provided almost a quarter of the 195,000 jobs for contractors, with average salaries at $45.41 per hour, or $94,450 per year. Building equipment contractors contained 14 percent of the positions at a mean $46.52 per hour, or $96,750 per year. The lowest-paid 10 percent of contractors received less than $24.35 per hour, or $50,650 per year, while the best-paid 10 percent made $71.67 per hour, or $149,07 1 Even including benefits and payroll taxes, labor costs are roughly 20-30% of construction contracts, according to the Census of Construction (Phillips 1998). 4 Thus, for example, if labor costs are 25% of total costs and prevailing wage rules raise wages by 10%, the impact on contract costs would be no more than 2.5%. In a study of new school construction in British Columbia, researchers looked at six years of contract costs before and after the adoption of a prevailing wage law in 1992. Bilginsoy and Philips (2000) found that, without introducing any controls, prevailing wages correlated with 16% higher construction costs. 8 The higher prevailing wage rate was presumed to have been passed through in higher contract costs, driving up total construction costs by an average of 3.4% and raising federal construction costs by $228 million to $513 million annually. In a study of new school construction in British Columbia, researchers looked at six years of contract costs before and after the adoption of a prevailing wage law in 1992. Bilginsoy and Philips (2000) found that, without introducing any controls, prevailing wages correlated with 16% higher construction costs. Basics. General contractors earned a mean $45.14 per hour, or $93,900 per year, as of May 2011, according to the Bureau of Labor Statistics. The lowest-paid 10 percent of contractors received less than $24.35 per hour, or $50,650 per year, while the best-paid 10 percent made $71.67 per hour, or $149,070 per year.
http://www.epi.org/publication/bp215/ http://www.epi.org/publication/bp215/ http://www.payscale.com/research/US/Job=General_Contractor/Hourly_Rate https://www.illinois.gov/idol/FAQs/Pages/contractor-faq.aspx http://www.payscale.com/research/US/Job=Construction_Contractor/Hourly_Rate http://work.chron.com/average-salary-general-contractor-6862.html http://www.epi.org/publication/bp215/ http://www.epi.org/publication/bp215/ http://work.chron.com/average-salary-general-contractor-6862.html
is contractor cost wages