N.Y. Comp. Codes R. & Regs. tit. 12 § 1500.2

Current through Register Vol. 46, No. 50, December 11, 2024

Section 1500.2 - Definitions

(a) Cost of labor index. An index, calculated monthly by the Division of Research and Statistics, that measures the percentage change in construction costs statewide against a base year. The index weighs material costs (as measured by the monthly National Producer Price Index for construction materials at 55 percent of the total, and labor costs (as measured by the Research and Statistics Division's Current Employment Statistics Index for the Construction Industry) at 45 percent. Both the National Producer Price Index and the Current Employment Statistics Index are first adjusted by an appropriate factor in order that each index reflects changes from a common base year where each index is set equal to 100.

(b) Composite weighted average hourly wager for construction industry employees. An average hourly rate of wage determined by averaging: the average rate of wage for "SIC 15" and "SIC 17"employees as determined by the "current employment statistics survey," which is conducted by the Division of Research and Statistics.

(c) Composite wage rate. The average "prevailing rate" of wages plus benefits due carpenters, electricians and plumbers in a given county/"multi-county"area.

(d) Current employment statistics index. An index which shows deviation of wages from a base year by industry, as determined by a monthly statewide survey of employers conducted by the Division of Research and Statistics.

(e) Current employment statistics index for the construction industry. An index, calculated by the Division of Research and Statistics which shows the percentage deviation of the "composite weighted average hourly wage for construction industry employees" from a base year.

(f) Current employment statistics survey. A monthly statewide survey of wages broken down according to "standard industry classification" (SIC), which is conducted by the Division of Research and Statistics.

(g) Labor market composite wage rate. An index, calculated yearly by the Division of Research and Statistics, which compares the percentage deviation of the "composite wage rate" for a given county/"multi-county" unit against the median county's "composite wage rate"composite wage rate" which is set equal to 1.00.

(h) Multi-county. The City of New York which contains the counties/boroughs of New York/Manhattan, Bronx, Kings/Brooklyn, Queens, and Richmond/Staten Island.

(i) National Producer Price Index. A statistic produced monthly by the U.S. Commerce Department that measures the percentage change in producer prices against a base year by industry.

(j) Prevailing rate. The minimum wages and benefits that can be paid to construction workers on public work projects as defined in article 8 section 220 of the Labor Law.

(k) SIC. Standard Industry Classification, as determined by the United States Office of Management and Budget (OMB).

(l) SIC 15. General contractors and operative builders.

(m) SIC 17. Special trade contractors (i.e. roofers, electricians. landscaping, HVAC, etc.).

N.Y. Comp. Codes R. & Regs. Tit. 12 § 1500.2