Life Sciences U.S. Fit-Out Cost Guide 2025

LIFE SCIENCES FIT OUT COST GUIDE 2025

CONSTRUCTION WAGES REMAIN ELEVATED

Construction and mining Manufacturing

Trade and transportation

Overall

Fed Target

0 1 2 3 4 5 6 7 8

5.8%

Median Wage Growth (12 month moving average, %)

Jul-21

Jul-22

Jul-23

Jan-21

Jul-24

Jul-20

Mar-21

Sep-21

Jan-22

Jan-23

Nov-21

May-21

Jan-24

Mar-22

Jan-20

Mar-23

Sep-22

Sep-23

Mar-24

Mar-20

Sep-20

Nov-22

May-22

Nov-23

May-23

May-24

Nov-20

May-20

Source: Bureau of Labor Statistics (BLS), Federal Reserve Bank of Atlanta

Declining inflation has led to easing in construction costs, but labor costs remain high and continue to grow at a stronger rate. KEY TAKEAWAY

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