Construction worker wages drop in 2024, material prices see decline

The average daily wage of construction workers fell by 2.7% year-on-year to MOP763 in 2024. After adjusting for inflation, the real wage index decreased by 3%, according to the Statistics and Census Service (DSEC). However, in the fourth quarter, daily wages increased by 1.3% to MOP777. Notably, wages for plant operators, pipe installers, and iron erectors rose, while concrete formwork carpenters and fire service mechanics saw wage declines. Meanwhile, construction material prices also dropped in the same period.