Wages and salaries in construction services in Germany experienced a cumulative growth over the period 2013 to 2023, rising from €15.52 billion to €28.63 billion. This equates to an average annual growth rate (CAGR) of 6.62% over the last five years ending in 2023. Year-on-year growth has generally been positive with notable increases such as 13.71% in 2019 and 5.61% in 2022, establishing a consistent upward trend.
Going forward, from 2024 to 2028, the combined annual growth rate is forecasted at 3.44%, leading to an anticipated value of €35.57 billion by 2028. Important trends to monitor include labor market conditions, governmental policy changes, and inflation rates, all of which could significantly impact wage development in the construction sector.
