Newly final rule expected to trigger third-party lawsuits
On Apr. 22, the Federal Acquisition Regulation (FAR) Council published a new rule requiring federal agencies to procure 鈥渟ustainable products and services鈥 to the maximum extent practicable effective May 22, 2024.
According to the latest Contractor Compensation Quarterly (CCQ) published by PAS, Inc., construction executive staff wage increases came in at 5.6% for 2023 and are also projected to rise by an average 4.7% by 2024 year-end. The actual 2023 increase compared to the 2023 projected increase was .9% higher, so it is possible we will see this same trend in 2024 (or not 鈥 see below). For comparison, WorldatWork is projecting a 4.1% average increase for all executives in 2024.