Seattle Construction Employment, Costs Continue Upward

Seattle construction employment is back to double-digit growth, while the cost of building components and materials continues to rise, according to the latest Mortenson Construction quarterly Construction Cost Index for Seattle. The acceleration of construction employment growth to an annualized 14% in late 2016 marks a shift from a brief period of slowing in 2015 and early 2016, the report said.

Once again, Seattle’s cost index outpaced the national average, which it has for some time. Construction costs for non-residential construction labor, material and equipment in Seattle grew 0.8% compared to the previous quarter. Mortenson recommends building owners plan on a cost growth of 4% to 4.5% in the next 12 months.

“While these numbers have ebbed and flowed, the one constant is strong employment growth each quarter," said Mortenson Construction chief estimator Mark Wagner. "With a nation-leading 62 cranes dotting the Seattle skyline, and a bevy of projects in the pipeline, it’s no surprise that materials costs and construction employment are on the rise.”

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Seattle Newsletters
Related Stories

Sovereign Fund Backs £500M Subterranean West End Development

Historic Brooklyn Hotel To Be Turned Into Ritz-Carlton-Branded Condos

Philly Has The Fundamentals. Now It Has To Reduce The Risk Of Building

Design Plans Revealed For RFK Stadium Parking Garages, Headed To Review

SpaceX Sues Texas AG, Grimes County Over Terafab Project Information

Retail Dynasty Pushes Button On Pair Of London Coliving Schemes

1,300 Projects Potentially Paused Due To Suspension Of Quality Inspectors

EXCLUSIVE: Georgia-Pacific Scraps Conversion Plans For Its Atlanta HQ

Miami Is 'Desperate' For A New Office Tower. It's About To Get 2

Sea Wall Rehabilitation: Strengthening Hudson River Walkway For Next 100 Years

Feds Raid North Texas-Based Contractor As Part Of HUD Investigation

Brooklyn's The Hall Complex To Get Hundreds Of Units, Synagogue And Office In New Plans