N.Y. Comp. Codes R. & Regs. tit. 12 § 1500.3

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

Section 1500.3 - Calculations

(a) Composite wage rate =((prevailing wages + prevailing benefits for carpenter) + (prevailing wages + prevailing benefits for electrician) + (prevailing wages + prevailing benefits for plumber)) / 3.

(b) Cost of labor index = 100 + (0.55 x (National Producer Price Index (NPPI) for the construction industry - 100)) + (0.45x (statewide Current Employment Statistics Index (CESI) for the construction industry - 100)), where both the NPPI and the CESI are first adjusted to reflect percentage change from a common base year.

(c) Composite weighted average hourly wage for construction industry employees = ((average hourly wage for SIC 15 employees statewide) (total number of SIC 15 employees statewide) +(average hourly wage for SIC 17 employees statewide) (total number of SIC 17 employees statewide)) / (total number of SIC 15 and SIC 17 employees statewide).

N.Y. Comp. Codes R. & Regs. Tit. 12 § 1500.3