I’m hearing about roughly 13%+ increases in labor costs here in the west region, for reference.
Recruiting costs have also gone up from 15% to as high as 25% of base per resource.
The going rate for hourly labor was 150/hr per head, but I haven’t talked to my contacts yet to see if that’s moved.
I would expect it to go to 175/hr, and premium rates to go to 200/hr. These rates would also reflect changes from agencies, and so should be in line.
Unrelated, but I was also hearing about a 25% increase in real estate in Albuquerque, New Mexico rent.
In Arizona commercial real estate, contractors had back-to-back single digit percent price hikes which I’m sure totaled double digit increases for the year.
I’m seeing substantial inflation, and anticipate this year’s real inflation to be in the double digits, and not the 5% the BLS is reporting.