{ "slug": "electrical", "name": "Electrical", "in_level_book": true, "scores": { "resilience": 80.6, "leverage": 79.7, "trade_ai_score": 80.2, "quadrant": "transform-and-win", "quadrant_label": "Transform & Win", "quadrant_desc": "Protected from AI and full of upside. The best place to be, press the advantage.", "resilience_rel": 85.4, "leverage_rel": 66 }, "subscores": { "resilience": { "physical_core": 88, "disintermediation": 76, "entry_barrier": 82, "switching_cost": 72 }, "leverage": { "coordination_drag": 78, "operating_leverage": 80, "revenue_expansion": 82, "data_amplification": 80 }, "basis": "Licensed, physical, code-bound. Controls/low-voltage adds tech-enabled revenue expansion. Strong AI upside in estimating/design." }, "research": { "wages_detail": { "median_hourly_wage_usd": 29.795, "median_hourly_wage_usd_derived": true, "median_hourly_wage_usd_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_hourly_wage_usd_research_pass_count": 6, "median_hourly_wage_usd_confidence": "high-primary", "median_annual_wage_usd": 61970, "median_annual_wage_usd_derived": true, "median_annual_wage_usd_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) / Occupational Outlook Handbook (OOH), May 2024, https://www.bls.gov/ooh/construction-and-extraction/electricians.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_annual_wage_usd_research_pass_count": 6, "median_annual_wage_usd_confidence": "high-primary", "pct25_hourly_wage_usd": 23.299999999999997, "pct25_hourly_wage_usd_derived": true, "pct25_hourly_wage_usd_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "pct25_hourly_wage_usd_research_pass_count": 6, "pct25_hourly_wage_usd_confidence": "high-primary", "pct75_hourly_wage_usd": 38.94, "pct75_hourly_wage_usd_derived": true, "pct75_hourly_wage_usd_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "pct75_hourly_wage_usd_research_pass_count": 6, "pct75_hourly_wage_usd_confidence": "high-primary", "pct90_hourly_wage_usd": 50.535, "pct90_hourly_wage_usd_derived": true, "pct90_hourly_wage_usd_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "pct90_hourly_wage_usd_research_pass_count": 6, "pct90_hourly_wage_usd_confidence": "high-primary", "pct10_hourly_wage_usd": 18.725, "pct10_hourly_wage_usd_derived": true, "pct10_hourly_wage_usd_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "pct10_hourly_wage_usd_research_pass_count": 6, "pct10_hourly_wage_usd_confidence": "high-primary", "wage_data_year": "2024", "median_hourly_wage_usd_source_access": "url", "median_annual_wage_usd_source_access": "url", "pct25_hourly_wage_usd_source_access": "url", "pct75_hourly_wage_usd_source_access": "url", "pct90_hourly_wage_usd_source_access": "url", "pct10_hourly_wage_usd_source_access": "url" }, "employment": { "us_employment": 818700, "us_employment_source": "U.S. Bureau of Labor Statistics, Occupational Outlook Handbook, 2024, https://www.bls.gov/ooh/construction-and-extraction/electricians.htm", "us_employment_research_pass_count": 6, "us_employment_confidence": "high-primary", "projected_10yr_growth_pct": 9, "projected_10yr_growth_pct_source": "U.S. Bureau of Labor Statistics, Employment Projections 2024-2034, https://www.bls.gov/ooh/construction-and-extraction/electricians.htm", "projected_10yr_growth_pct_research_pass_count": 6, "projected_10yr_growth_pct_confidence": "high-primary", "annual_openings": 81000, "annual_openings_source": "U.S. Bureau of Labor Statistics, Employment Projections 2024-2034, https://www.bls.gov/ooh/construction-and-extraction/electricians.htm", "annual_openings_research_pass_count": 6, "annual_openings_confidence": "high-primary", "projected_10yr_net_change": 77400, "projected_10yr_net_change_source": "U.S. Bureau of Labor Statistics, Employment Projections 2024-2034, https://www.bls.gov/ooh/construction-and-extraction/electricians.htm", "projected_10yr_net_change_research_pass_count": 6, "projected_10yr_net_change_confidence": "high-primary", "us_employment_year": "2024", "us_employment_source_access": "url", "projected_10yr_growth_pct_source_access": "url", "annual_openings_source_access": "url", "projected_10yr_net_change_source_access": "url" }, "labor_shortage": { "unfilled_openings": 81000, "unfilled_openings_source": "U.S. Bureau of Labor Statistics (BLS), Occupational Outlook Handbook: Electricians, https://www.bls.gov/ooh/construction-and-extraction/electricians.htm", "unfilled_openings_research_pass_count": 5, "unfilled_openings_confidence": "high-primary", "vacancy_rate_pct": 3.45, "vacancy_rate_pct_derived": true, "vacancy_rate_pct_source": "Trade Economy Index research synthesis: median of 1 cited research input: U.S. Bureau of Labor Statistics (BLS) Job Openings and Labor Turnover Survey (JOLTS) / Associated Builders and Contractors (ABC) Analysis, December 2025, https://www.abc.org", "vacancy_rate_pct_research_pass_count": 2, "vacancy_rate_pct_confidence": "med", "unfilled_openings_year": "2024-2034", "shortage_note": "The National Electrical Contractors Association (NECA) estimates that approximately 10,000 electricians retire each year while only 7,000 enter the industry, creating an annual net deficit of 3,000 workers and an estimated trade shortfall of roughly 50,000 electricians.", "shortage_note_source": "National Electrical Contractors Association (NECA), reported via ELECTRICAL CONTRACTOR Magazine, 2024, https://www.ecmag.com and https://www.necanet.org", "unfilled_openings_source_access": "url", "vacancy_rate_pct_source_access": "url", "shortage_note_source_access": "url" }, "workforce_aging": { "median_worker_age": 39.6, "median_worker_age_source": "U.S. Bureau of Labor Statistics, Current Population Survey (CPS), Table 11b: Employed people by detailed occupation and age (https://www.bls.gov/cps/cpsaat11b.htm)", "median_worker_age_research_pass_count": 6, "median_worker_age_confidence": "high-primary", "pct_over_55": 17.985, "pct_over_55_derived": true, "pct_over_55_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Current Population Survey, Household Data Annual Averages, Table 11b: Employed persons by detailed occupation and age, 2023, https://www.bls.gov/cps/cpsaat11b.htm | Manufacturing Institute and Deloitte 2024 Electrical Workforce Study (https://www.ecmag.com/magazine/articles/article-detail/workforce-development-addressing-the-electrician-shortage)", "pct_over_55_research_pass_count": 6, "pct_over_55_confidence": "med", "median_worker_age_year": "2025", "retirement_note": "The National Electrical Contractors Association (NECA) reports that approximately 10,000 electricians retire each year while only 7,000 enter the trade, creating a net annual deficit, while the U.S. Bureau of Labor Statistics projects 81,000 annual job openings through 2034 primarily driven by retirement and labor force exits.", "retirement_note_source": "National Electrical Contractors Association (NECA) and U.S. Bureau of Labor Statistics, Occupational Outlook Handbook: Electricians (https://www.bls.gov/ooh/construction-and-extraction/electricians.htm)", "median_worker_age_source_access": "url", "pct_over_55_source_access": "url", "retirement_note_source_access": "url" }, "training_pipeline": { "apprenticeship_enrollment": 71812, "apprenticeship_enrollment_source": "U.S. Department of Labor, Employment and Training Administration, Office of Apprenticeship, Registered Apprenticeship Data (RAPIDS), 2021, https://www.dol.gov/agencies/eta/apprenticeship/about/statistics/2021", "apprenticeship_enrollment_research_pass_count": 5, "apprenticeship_enrollment_confidence": "med", "annual_completions": 29121, "annual_completions_derived": true, "annual_completions_source": "Trade Economy Index research synthesis: median of 4 cited research inputs: National Center for Education Statistics (NCES) Integrated Postsecondary Education Data System (IPEDS) via Data USA, 2024, https://datausa.io/profile/cip/electrician | Trade Colleges Directory / U.S. Department of Education IPEDS, 2026, https://www.tradecolleges.org/programs/electrician | DataUSA / National Center for Education Statistics (NCES) IPEDS Electrician Program Completions Data, 2024, https://datausa.io/profile/cip/electrician | U.S. Department of Education, National Center for Education Statistics (NCES), Integrated Postsecondary Education Data System (IPEDS), 2024 Data (Electrician CIP 46.0302)", "annual_completions_research_pass_count": 4, "annual_completions_confidence": "high", "apprenticeship_enrollment_year": "2025", "pipeline_gap_note": "The U.S. Bureau of Labor Statistics projects 81,000 annual job openings for electricians through 2034 due to growth and retirements, creating a structural labor shortage as total annual apprenticeship and trade school graduates remain well below the required replacement and expansion rate.", "pipeline_gap_note_source": "U.S. Bureau of Labor Statistics (BLS) Occupational Outlook Handbook, 2025, https://www.bls.gov/ooh/construction-and-extraction/electricians.htm", "apprenticeship_enrollment_source_access": "url", "annual_completions_source_access": "url", "pipeline_gap_note_source_access": "url" }, "immigration_reliance": { "pct_foreign_born": 15.5, "pct_foreign_born_source": "National Association of Home Builders (NAHB) Special Study: Immigrant Workers in the Construction Labor Force (U.S. Census Bureau American Community Survey PUMS analysis) - https://www.nahb.org", "pct_foreign_born_research_pass_count": 3, "pct_foreign_born_confidence": "high", "pct_foreign_born_year": "2018", "visa_dependence_note": "Electricians require formal apprenticeship training and state professional licensing, leading to a lower share of foreign-born workers relative to unlicensed construction trades. Employers in technical trades seeking temporary foreign labor primarily utilize the H-2B non-agricultural temporary worker visa program (subject to an annual statutory cap of 66,000), while high-skilled electrical engineering roles utilize H-1B visas.", "visa_dependence_note_source": "National Association of Home Builders (NAHB) / U.S. Department of Labor (DOL) H-2B Program - https://www.nahb.org and https://www.dol.gov", "pct_foreign_born_source_access": "url", "visa_dependence_note_source_access": "url" }, "unionization": { "union_membership_pct": 30.6, "union_membership_pct_source": "Union Membership and Coverage Database from the CPS (unionstats.com), constructed by Barry T. Hirsch, David A. Macpherson, and William E. Even, https://www.unionstats.com", "union_membership_pct_research_pass_count": 5, "union_membership_pct_confidence": "high", "union_membership_year": "2023", "prevailing_wage_note": "Under the Davis-Bacon and Related Acts (DBRA), contractors on covered federal construction projects exceeding $2,000 must pay electricians at least the locally prevailing wage rate and fringe benefits. In heavily unionized markets, U.S. Department of Labor wage determinations for electrician classifications (SOC 47-2111) are predominantly based on collective bargaining agreements negotiated by local chapters of the International Brotherhood of Electrical Workers (IBEW).", "prevailing_wage_note_source": "U.S. Department of Labor Wage and Hour Division, Davis-Bacon and Related Acts, 2024", "union_membership_pct_source_access": "url", "prevailing_wage_note_source_access": "citation-text-only" }, "licensing": { "states_requiring_license": 46, "states_requiring_license_source": "GetTradeLicense: Electrician License Requirements by State (2026)", "states_requiring_license_research_pass_count": 5, "states_requiring_license_confidence": "high", "states_requiring_license_year": "2026", "bonding_note": "State electrical contractor licensing boards typically require surety bonds ranging from $1,000 to $130,000 (most commonly $10,000 to $25,000, such as California and Minnesota requiring $25,000) alongside general liability insurance coverage minimums ranging from $100,000 to $1,000,000 per occurrence.", "bonding_note_source": "MoneyGeek: Electrical Contractor Insurance & Bonding Guide (2026)", "reciprocity_note": "Electrical trade licensing reciprocity across states is enabled via bilateral state-to-state agreements or standardized testing programs such as the NASCLA Accredited Electrical Examination Program, which is accepted by 17+ state and territorial jurisdictions (including AL, AZ, DC, FL, ID, LA, MS, MO, NM, NC, SC, TN, UT, VA, and WV) to waive state trade exams for master, journeyman, or residential electrical licensing.", "reciprocity_note_source": "National Association of State Contractors Licensing Agencies (NASCLA): NASCLA Accredited Examination Program (2026)", "states_requiring_license_source_access": "citation-text-only", "bonding_note_source_access": "citation-text-only", "reciprocity_note_source_access": "citation-text-only" }, "market_size": { "market_size_usd": 347500000000, "market_size_usd_source": "IBISWorld, Electricians in the US Industry Report (2026), https://www.ibisworld.com/united-states/market-research-reports/electricians-industry", "market_size_usd_research_pass_count": 5, "market_size_usd_confidence": "med", "cagr_pct": 4.8, "cagr_pct_source": "IBISWorld, Electricians in the US Industry Report (2026), https://www.ibisworld.com/united-states/market-research-reports/electricians-industry", "cagr_pct_research_pass_count": 5, "cagr_pct_confidence": "med", "market_size_usd_year": "2026", "cagr_forecast_window": "2021-2026", "cagr_forecast_window_source": "IBISWorld, Electricians in the US Industry Report (2026), https://www.ibisworld.com/united-states/market-research-reports/electricians-industry", "market_size_usd_source_access": "url", "cagr_pct_source_access": "url", "cagr_forecast_window_source_access": "url" }, "firm_counts": { "num_establishments": 81842, "num_establishments_source": "U.S. Census Bureau, Statistics of U.S. Businesses (SUSB), https://www.census.gov/data/tables/2022/econ/susb/2022-susb-annual.html", "num_establishments_research_pass_count": 6, "num_establishments_confidence": "high-primary", "num_firms": 79611, "num_firms_source": "U.S. Census Bureau, Statistics of U.S. Businesses (SUSB), https://www.census.gov/data/tables/2022/econ/susb/2022-susb-annual.html", "num_firms_research_pass_count": 6, "num_firms_confidence": "high-primary", "avg_employees_per_firm": 11.96, "avg_employees_per_firm_source": "U.S. Census Bureau, Statistics of U.S. Businesses (SUSB), https://www.census.gov/data/tables/2022/econ/susb/2022-susb-annual.html", "avg_employees_per_firm_research_pass_count": 6, "avg_employees_per_firm_confidence": "high-primary", "num_establishments_year": "2022", "num_establishments_source_access": "url", "num_firms_source_access": "url", "avg_employees_per_firm_source_access": "url" }, "firm_size_dist": { "pct_firms_under_1m": 80.96, "pct_firms_under_1m_source": "U.S. Census Bureau, Statistics of U.S. Businesses (SUSB), Enterprise Receipt Size", "pct_firms_under_1m_research_pass_count": 1, "pct_firms_under_1m_confidence": "low", "pct_firms_1m_5m": 14.69, "pct_firms_1m_5m_source": "U.S. Census Bureau, Statistics of U.S. Businesses (SUSB), Enterprise Receipt Size", "pct_firms_1m_5m_research_pass_count": 1, "pct_firms_1m_5m_confidence": "low", "pct_firms_5m_20m": 3.12, "pct_firms_5m_20m_source": "U.S. Census Bureau, Statistics of U.S. Businesses (SUSB), Enterprise Receipt Size", "pct_firms_5m_20m_research_pass_count": 1, "pct_firms_5m_20m_confidence": "low", "pct_firms_over_20m": 1.22, "pct_firms_over_20m_source": "U.S. Census Bureau, Statistics of U.S. Businesses (SUSB), Enterprise Receipt Size", "pct_firms_over_20m_research_pass_count": 1, "pct_firms_over_20m_confidence": "low", "pct_nonemployer": 73.6, "pct_nonemployer_source": "U.S. Census Bureau, Nonemployer Statistics (NES) & Economic Census / SUSB, https://www.census.gov/programs-surveys/nonemployer-statistics.html", "pct_nonemployer_research_pass_count": 1, "pct_nonemployer_confidence": "low", "size_dist_year": "2017", "pct_firms_under_1m_source_access": "citation-text-only", "pct_firms_1m_5m_source_access": "citation-text-only", "pct_firms_5m_20m_source_access": "citation-text-only", "pct_firms_over_20m_source_access": "citation-text-only", "pct_nonemployer_source_access": "url" }, "fragmentation": { "top4_firm_share_pct": 5.1, "top4_firm_share_pct_source": "U.S. Small Business Administration, 'Small Business Size Standards: Agriculture, Forestry, Fishing and Hunting; Mining, Quarrying, and Oil and Gas Extraction; Utilities; Construction', Proposed Rule, 85 FR 62239 (October 2, 2020), Table 4 'Size Standards Supported by Each Factor for Each Industry (Receipts)' at 85 FR 62248, column (6) headed 'Four-firm ratio (%)', row NAICS 238210 Electrical Contractors and Other Wiring Installation Contractors. Derived by SBA from the U.S. Census Bureau special tabulation of the 2012 Economic Census. https://www.federalregister.gov/documents/2020/10/02/2020-21589/small-business-size-standards-agriculture-forestry-fishing-and-hunting-mining-quarrying-and-oil", "top4_firm_share_pct_research_pass_count": 1, "top4_firm_share_pct_confidence": "high-primary", "top50_firm_share_pct": 17.1, "top50_firm_share_pct_source": "EC&M (Electrical Construction & Maintenance) 'Top 50 Electrical Contractors' & Cascade Partners M&A Market Update, 2025", "top50_firm_share_pct_research_pass_count": 1, "top50_firm_share_pct_confidence": "low", "mom_and_pop_share_note": "Small and independent operators heavily dominate the electrical contracting sector by firm count. According to U.S. Census SUSB data, 89.7% of electrical contracting businesses (NAICS 238210) have fewer than 20 employees, and IBISWorld notes that the vast majority of active industry operators generate under $2 million in annual revenue.", "mom_and_pop_share_note_source": "U.S. Census Bureau, Statistics of U.S. Businesses (SUSB) Enterprise Size Data, 2022 (released 2025), https://www.census.gov/programs-surveys/susb.html", "concentration_year": "2022-2025", "top4_firm_share_pct_source_access": "url", "top50_firm_share_pct_source_access": "citation-text-only", "mom_and_pop_share_note_source_access": "url" }, "franchise_pen": { "franchise_penetration_pct": 3, "franchise_penetration_pct_source": "CT Acquisitions, 2026, https://ctacquisitions.com", "franchise_penetration_pct_research_pass_count": 4, "franchise_penetration_pct_confidence": "med", "franchise_penetration_year": "2026", "franchise_trend_note": "The U.S. electrical contracting industry remains heavily fragmented with independent operators accounting for over 97% of total market revenue, while major franchise networks (such as Authority Brands' Mister Sparky and Neighborly's Mr. Electric) and private equity platforms collectively account for under 3%. However, the franchise and consolidated mix is trending upward as multi-trade franchisors and private equity buyers accelerate platform rollups across residential and commercial services, with private equity driving roughly 75% of electrical contractor M&A transactions in 2025.", "franchise_trend_note_source": "PitchBook Q3 2025 Analyst Note via Main Street Wealth (2026, https://mainstreetwealth.ai) and CT Acquisitions (2026, https://ctacquisitions.com)", "franchise_penetration_pct_source_access": "url", "franchise_trend_note_source_access": "url" }, "formation_rate": { "annual_new_firm_formation": 19076, "annual_new_firm_formation_source": "U.S. Census Bureau, Business Dynamics Statistics (BDS), 2023, https://www.census.gov/programs-surveys/bds.html", "annual_new_firm_formation_research_pass_count": 4, "annual_new_firm_formation_confidence": "low", "annual_closure_rate_pct": 8.39, "annual_closure_rate_pct_source": "U.S. Census Bureau, Business Dynamics Statistics (BDS), 2023, https://www.census.gov/programs-surveys/bds.html", "annual_closure_rate_pct_research_pass_count": 3, "annual_closure_rate_pct_confidence": "high-primary", "survival_5yr_pct": 53.9, "survival_5yr_pct_source": "U.S. Bureau of Labor Statistics, Business Employment Dynamics (BED), Table 7 (Establishment Age and Survival Data), Construction (NAICS 23), 2024, https://www.bls.gov/bdm/us_age_naics_00_table7.txt", "survival_5yr_pct_research_pass_count": 4, "survival_5yr_pct_confidence": "low", "annual_new_firm_formation_year": "2023", "annual_new_firm_formation_source_access": "url", "annual_closure_rate_pct_source_access": "url", "survival_5yr_pct_source_access": "url" }, "margins": { "gross_margin_pct": 22.4, "gross_margin_pct_source": "CFMA Construction Financial Benchmarker (2024, https://cfma.org/), Specialty Trades gross profit margin of 22.4%. Cross-checked against public company filings including IES Holdings, Inc. SEC Form 10-K (2025, https://www.sec.gov/edgar/browse/?CIK=0001048268) at 25.5% and MYR Group Inc. SEC Form 10-K (2025, https://www.sec.gov/edgar/browse/?CIK=0001409371) at 11.6%.", "gross_margin_pct_research_pass_count": 3, "gross_margin_pct_confidence": "med", "operating_margin_pct": 7.1, "operating_margin_pct_source": "CFMA Construction Financial Benchmarker (2024, https://cfma.org/), Specialty Trades EBIT margin of 7.1%. Cross-checked against public company filings including IES Holdings, Inc. SEC Form 10-K (2025, https://www.sec.gov/edgar/browse/?CIK=0001048268) at 11.4% and MYR Group Inc. SEC Form 10-K (2025, https://www.sec.gov/edgar/browse/?CIK=0001409371) at 4.6%.", "operating_margin_pct_research_pass_count": 3, "operating_margin_pct_confidence": "adjudicated", "margin_year": "2024", "gross_margin_pct_shared_across": 9, "gross_margin_pct_note": "This figure is an industry-wide benchmark, not a per-trade measurement: the same value is published for 9 trade or segment records in this dataset. Read it as the specialty-trade baseline, not as a finding that distinguishes this trade from another.", "operating_margin_pct_shared_across": 14, "operating_margin_pct_note": "This figure is an industry-wide benchmark, not a per-trade measurement: the same value is published for 14 trade or segment records in this dataset. Read it as the specialty-trade baseline, not as a finding that distinguishes this trade from another.", "gross_margin_pct_source_access": "url", "operating_margin_pct_source_access": "url" }, "cost_structure": { "labor_pct_of_revenue": 31.7, "labor_pct_of_revenue_source": "IBISWorld, US Industry (NAICS 23821) Report: Electricians in the US (2021), https://www.ibisworld.com/united-states/market-research-reports/electricians-industry", "labor_pct_of_revenue_research_pass_count": 3, "labor_pct_of_revenue_confidence": "med", "materials_pct_of_revenue": 24, "materials_pct_of_revenue_source": "CFMA / NECA Electrical Contractor Cost Benchmarks, 2024, https://cfma.org/benchmarker", "materials_pct_of_revenue_research_pass_count": 3, "materials_pct_of_revenue_confidence": "adjudicated", "sga_overhead_pct": 25.3, "sga_overhead_pct_source": "IBISWorld, US Industry (NAICS 23821) Report: Electricians in the US (2021), https://www.ibisworld.com/united-states/market-research-reports/electricians-industry", "sga_overhead_pct_research_pass_count": 3, "sga_overhead_pct_confidence": "adjudicated", "cost_structure_year": "2024", "labor_pct_of_revenue_shared_across": 4, "labor_pct_of_revenue_note": "This figure is an industry-wide benchmark, not a per-trade measurement: the same value is published for 4 trade or segment records in this dataset. Read it as the specialty-trade baseline, not as a finding that distinguishes this trade from another.", "labor_pct_of_revenue_source_access": "url", "materials_pct_of_revenue_source_access": "url", "sga_overhead_pct_source_access": "url" }, "productivity": { "revenue_per_employee_usd": 257243.5, "revenue_per_employee_usd_derived": true, "revenue_per_employee_usd_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Census Bureau, 2022 Economic Census (Table EC2223BASIC, NAICS 238210 Electrical Contractors and Other Wiring Installation Contractors: $249.2B total output / 968,734 employees), https://www.census.gov/programs-surveys/economic-census.html; cross-checked against IBISWorld 2025 NAICS 238210 Industry Report ($256,000 per employee), https://www.ibisworld.com | IBISWorld, Electricians in the US (NAICS 238210) Industry Report, https://www.ibisworld.com/united-states/market-research-reports/electricians-industry", "revenue_per_employee_usd_research_pass_count": 6, "revenue_per_employee_usd_confidence": "high", "billable_utilization_pct": 70, "billable_utilization_pct_source": "National Electrical Contractors Association (NECA), Financial Performance Report, https://www.necanet.org", "billable_utilization_pct_research_pass_count": 3, "billable_utilization_pct_confidence": "high", "productivity_year": "2022-2025", "billable_utilization_pct_shared_across": 5, "billable_utilization_pct_note": "This figure is an industry-wide benchmark, not a per-trade measurement: the same value is published for 5 trade or segment records in this dataset. Read it as the specialty-trade baseline, not as a finding that distinguishes this trade from another.", "revenue_per_employee_usd_source_access": "url", "billable_utilization_pct_source_access": "url" }, "seasonality_econ": { "peak_period_note": "Electrical contracting revenue typically experiences seasonal weakness in the first quarter due to inclement winter weather and light bidding activity from late November through mid-January as clients finalize budgets. Revenue peaks during the third and fourth quarters when weather conditions are most favorable, project construction activity reaches its maximum pace, and customers accelerate spending to utilize annual capital budgets prior to year-end.", "peak_period_note_source": "Quanta Services, Inc., Form 10-K Annual Report for the Fiscal Year Ended December 31, 2025 (filed February 19, 2026), https://www.sec.gov; MYR Group Inc., Form 10-K Annual Report for the Fiscal Year Ended December 31, 2025 (filed February 25, 2026), https://www.sec.gov", "cyclicality_note": "The electrical contracting industry is cyclical and exposed to broader macroeconomic cycles, interest rate fluctuations, regional construction activity, and corporate/utility capital spending budgets. Industry revenues are sensitive to downturns in commercial real estate, residential housing starts, and general industrial production, though expansion in utility grid modernization, data centers, and renewable infrastructure provides long-term non-cyclical demand drivers.", "cyclicality_note_source": "MYR Group Inc., Form 10-K Annual Report for the Fiscal Year Ended December 31, 2025 (filed February 25, 2026), https://www.sec.gov; IBISWorld, 'Electricians in the US' Industry Report (NAICS 23821, published January 2026), https://www.ibisworld.com/united-states/market-research-reports/electricians-industry", "peak_period_note_source_access": "url", "cyclicality_note_source_access": "url" }, "cash_cycle_detail": { "dso_days": 57.35, "dso_days_source": "MYR Group Inc. (MYRG) Financial Statements via GuruFocus, 2024, https://www.gurufocus.com/stock/MYRG/summary", "dso_days_research_pass_count": 6, "dso_days_confidence": "med", "dpo_days": 33.42, "dpo_days_source": "MYR Group Inc. (MYRG) Financial Statements via GuruFocus, 2024, https://www.gurufocus.com/stock/MYRG/summary", "dpo_days_research_pass_count": 6, "dpo_days_confidence": "med", "cash_conversion_cycle_days": 23.93, "cash_conversion_cycle_days_source": "Calculated from MYR Group Inc. (MYRG) Financial Data (DSO 57.35 - DPO 33.42), 2024, https://www.gurufocus.com/stock/MYRG/summary", "cash_conversion_cycle_days_research_pass_count": 6, "cash_conversion_cycle_days_confidence": "med", "cash_cycle_year": "2025", "dso_days_source_access": "url", "dpo_days_source_access": "url", "cash_conversion_cycle_days_source_access": "url" }, "retainage_liens": { "typical_retainage_pct": 10, "typical_retainage_pct_source": "CFMA Construction Retainage Overview, 2024, https://www.cfma.org", "typical_retainage_pct_research_pass_count": 2, "typical_retainage_pct_confidence": "med", "payment_dispute_pct": 33, "payment_dispute_pct_source": "Rabbet, 2025 Construction Payments Report, 2025, https://info.rabbet.com/construction-payments-report", "payment_dispute_pct_research_pass_count": 1, "payment_dispute_pct_confidence": "low", "retainage_year": "2024", "typical_retainage_pct_shared_across": 11, "typical_retainage_pct_note": "This figure is an industry-wide benchmark, not a per-trade measurement: the same value is published for 11 trade or segment records in this dataset. Read it as the specialty-trade baseline, not as a finding that distinguishes this trade from another.", "typical_retainage_pct_source_access": "url", "payment_dispute_pct_source_access": "url" }, "bad_debt": { "bad_debt_write_off_pct": 0.00033, "bad_debt_write_off_pct_source": "EMCOR Group, Inc. Form 10-K for the Fiscal Year Ended December 31, 2024, https://www.sec.gov/ix?doc=/Archives/edgar/data/105608/000010560825000011/eme-20241231.htm", "bad_debt_write_off_pct_research_pass_count": 4, "bad_debt_write_off_pct_confidence": "adjudicated", "collection_rate_pct": 85.1, "collection_rate_pct_source": "Level CFO State of Contractor Finance Benchmark Report (corroborated by CFMA 2024 Financial Benchmarker data, https://levelcfo.com)", "collection_rate_pct_research_pass_count": 3, "collection_rate_pct_confidence": "high", "bad_debt_year": "2024", "collection_rate_pct_shared_across": 23, "collection_rate_pct_note": "This figure is an industry-wide benchmark, not a per-trade measurement: the same value is published for 23 trade or segment records in this dataset. Read it as the specialty-trade baseline, not as a finding that distinguishes this trade from another.", "bad_debt_write_off_pct_source_access": "url", "collection_rate_pct_source_access": "url" }, "ai_task_breakdown": { "pct_physical_onsite_work": 58, "pct_physical_onsite_work_source": "McKinsey Global Institute / Illinois Labor Education Program (2018), 'Automation in Construction Trades: An Assessment of Impact on Workers and the Economy', https://illinois.edu", "pct_physical_onsite_work_research_pass_count": 5, "pct_physical_onsite_work_confidence": "med", "pct_cognitive_backoffice_work": 42, "pct_cognitive_backoffice_work_source": "Oxford Economics / McKinsey Global Institute (2017), 'A Future That Works: Automation, Employment, and Productivity', https://www.mckinsey.com", "pct_cognitive_backoffice_work_research_pass_count": 5, "pct_cognitive_backoffice_work_confidence": "med", "task_breakdown_note": "Work time for Electricians (SOC 47-2111) is divided between hands-on physical labor on-site (installing conduit/wiring, repairing equipment, climbing ladders, operating tools, low-posture wiring in unstructured environments) and cognitive/coordination/back-office duties (reading blueprints, designing wiring diagrams, estimating materials/costs, ordering supplies, maintaining job records, and inspecting for NEC compliance). McKinsey Global Institute task-automation research separately estimates that 23.8% of electrician work hours consist of automatable routine cognitive/coordination tasks, leaving 76.2% as non-automatable physical/on-site labor.", "task_breakdown_note_source": "O*NET OnLine, Electricians SOC 47-2111.00 (2026), https://www.onetonline.org/link/summary/47-2111.00; McKinsey Global Institute, Automation Potential and Wages for US Jobs (2018), https://public.tableau.com/profile/mckinsey.analytics", "ai_resistant_work": "Physical on-site installation, hands-on troubleshooting, and dynamic field decision-making remain highly resistant to AI and robotic automation. Key physical tasks include pulling and routing cabling through unpredictable spaces, bending conduit, terminating fine wiring inside cramped junction boxes or panels, climbing utility poles, placing switchgear, and physical testing and commissioning. As highlighted in workforce analyses by Total Skills (2026) and American Career Training (2026), these tasks require human fine-motor dexterity, physical presence, and spatial adaptability in non-standardized environments. Oxford University's foundational automation study (Frey & Osborne) and subsequent industry analysis rate electricians in the low-risk category (15% probability of automation) because job sites present unpredictable physical variables, aging infrastructure, and unique layouts that current AI and robotics cannot navigate or manipulate.", "ai_resistant_work_source": "MDPI Buildings Journal (2026) - 'Automated Construction Cost Estimation Framework Using Model Context Protocol and Building Information Modeling'. https://www.mdpi.com/journal/buildings | Electrical Contractor Magazine / ELECTRI International (2025) - 'How A.I. Is Streamlining Daily Workflows / State of A.I. in Electrical Contracting'. https://www.ecmag.com | NECA-IBEW Local 48 (2026) - 'Guide to AI & the Electrical Industry: What You Should Know'. https://necaibew48.com | Drawer AI (2026) - 'AI for Electrical Takeoff, Estimating, and BIM Coordination'. https://drawer.ai | McCormick Systems (2026) - 'How AI is Creating Demand for Electrical Contractors'. https://mccormicksys.com | United BIM (2026) - 'Key Applications of AI in Construction Management, Estimating, and BIM'. https://united-bim.com | Total Skills (2026) - 'Why Electrical Work Is Robot-Proof: AI and Automation Analysis'. https://totalskills.co.uk | American Career Training (2026) - 'Electrical Lineman Work is a Skilled Trade that Cannot Be Done by AI'. https://americancareertraining.edu", "ai_resistant_work_confidence": "low", "automatable_work": "Back-office administration, preconstruction coordination, estimating, contract management, and project scheduling are the most automatable functions in the electrical trade. According to Electrical Contractor Magazine / ELECTRI International (2025) and United BIM (2026), highly automatable tasks include: (1) Electrical Takeoff & Quantity Counting: AI tools automatically scan 2D PDF blueprints to count light fixtures, switches, receptacles, and circuit pathways. (2) Cost Estimating: Automated extraction of BIM geometry paired with national cost databases (e.g., RSMeans, Craftsman) to generate cost breakdowns and location-adjusted estimates. (3) 3D BIM & Clash Detection: Conversion of 2D PDF electrical drawings into 3D Revit models and automated clash detection to prevent spatial conflicts before installation. (4) Legal & Administrative Tasks: Automated review of subcontracts for risk exposure (using NLP tools like Document Crunch), transcription of site meetings (Otter.ai/Copilot), drafting safety compliance documentation, and tracking RFI/submittal delays.", "automatable_work_source": "MDPI Buildings Journal (2026) - 'Automated Construction Cost Estimation Framework Using Model Context Protocol and Building Information Modeling'. https://www.mdpi.com/journal/buildings | Electrical Contractor Magazine / ELECTRI International (2025) - 'How A.I. Is Streamlining Daily Workflows / State of A.I. in Electrical Contracting'. https://www.ecmag.com | NECA-IBEW Local 48 (2026) - 'Guide to AI & the Electrical Industry: What You Should Know'. https://necaibew48.com | Drawer AI (2026) - 'AI for Electrical Takeoff, Estimating, and BIM Coordination'. https://drawer.ai | McCormick Systems (2026) - 'How AI is Creating Demand for Electrical Contractors'. https://mccormicksys.com | United BIM (2026) - 'Key Applications of AI in Construction Management, Estimating, and BIM'. https://united-bim.com | Total Skills (2026) - 'Why Electrical Work Is Robot-Proof: AI and Automation Analysis'. https://totalskills.co.uk | American Career Training (2026) - 'Electrical Lineman Work is a Skilled Trade that Cannot Be Done by AI'. https://americancareertraining.edu", "automatable_work_confidence": "low", "pct_physical_onsite_work_source_access": "url", "pct_cognitive_backoffice_work_source_access": "url", "task_breakdown_note_source_access": "url", "ai_resistant_work_source_access": "url", "automatable_work_source_access": "url" }, "automation_physical": { "sources": [ "Brookings Institution (2026):", "McKinsey & Company (2026): https://www.mckinsey.com/industries/capital-projects-and-infrastructure/our-insights/ais-inflection-point-in-aec", "Dusty Robotics (2023): https://www.dustyrobotics.com", "AEC Bytes (2024): https://www.aecbytes.com", "Simplexity Product Development / Dusty Robotics Case Study (2025): https://www.simplexitypd.com", "For Construction Pros / Hilti Inc. (2026): https://www.forconstructionpros.com/equipment/work-place-safety-wearables/article/21199341/hilti-inc-hilti-jaibot", "Global IMI / McKinsey Report Coverage (2024): https://www.global-imi.com" ] }, "fsm_software": { "fsm_adoption_pct": 53, "fsm_adoption_pct_source": "Jonas Construction Software (2021), Electrical Contractor Statistics: Why Electrical Contractors Need the Right Tech Tools, https://jonasconstruction.com/blog/electrical-contractor-statistics", "fsm_adoption_pct_research_pass_count": 2, "fsm_adoption_pct_confidence": "med", "fsm_adoption_year": "2026", "fsm_adoption_pct_source_access": "url" }, "accounting_tech": { "common_accounting_software": "The primary accounting and ERP software systems used by US construction and electrical contractors are Sage (Sage 100 Contractor and Sage 300 CRE, leading with ~21.3% market adoption), Viewpoint (Trimble Vista/Spectrum at ~19.8%), Plexxis (~7.8%), Intuit QuickBooks (~5.2%), Foundation Software (~4.9%), Jonas Construction Software, and CMiC (~4.7%). Industry surveys indicate that 64% of electrical contractors utilize dedicated accounting/payroll software.", "common_accounting_software_source": "JBKnowledge 2021 Construction Technology Report (2021), https://jbknowledge.com/report; Electrical Contractor Magazine / Jonas Construction (2021)", "integration_gap_note": "A major field-to-accounting integration gap persists across specialty trade and electrical contractors: 66% of trade contractors operate with disconnected software systems, as only 34% have integrated their software workflows. When field/operations apps fail to integrate with office accounting platforms, over 50% of contractors manually transfer data between systems, with 40%+ relying on spreadsheets and ~14% using email. Electrical contractors spend an average of 9 hours per week on manual administrative tasks due to unautomated or unintegrated field-to-accounting workflows.", "integration_gap_note_source": "Electrical Contractor Magazine / Dodge Construction Network Trade Contractor Report (2023), https://www.ecmag.com; JBKnowledge 2021 Construction Technology Report (2021), https://jbknowledge.com/report; Electrical Contractor Magazine Operations Survey (2024), https://www.ecmag.com", "common_accounting_software_source_access": "url", "integration_gap_note_source_access": "url" }, "ai_adoption": { "ai_adoption_rate_pct": 25, "ai_adoption_rate_pct_source": "EC&M (Electrical Construction & Maintenance) Top 50 Electrical Contractors Survey (2024)", "ai_adoption_rate_pct_research_pass_count": 3, "ai_adoption_rate_pct_confidence": "low", "ai_adoption_year": "2026", "adoption_examples": "1. Academic AI-BIM Estimating Study (MDPI Buildings, 2026): Researchers tested an AI framework integrating Large Language Models with Autodesk Revit via the Model Context Protocol (MCP) and cost databases for electrical system estimating. The system automatically extracted quantities across 187 BIM elements (conduits, panels, receptacles) and completed cost estimates in 42.3 seconds compared to 2.5-3.5 hours for human baselines, achieving a 98.6% efficiency gain with a 5.1% variance from human baseline accuracy.\n2. ELECTRI International / NECA Industry Report (2025): Presented at NECA 2025 Chicago ('The State of A.I. in Electrical Contracting' by Mikec & Carr), documenting electrical contractor implementation of AI tools like Document Crunch for automated contract risk analysis, AI meeting transcription, and automated takeoff platforms.\n3. Automated Preconstruction Platforms (Drawer AI, 2026): Adoption of AI software that processes 2D PDF electrical plans to automatically calculate branch routing and run 'BIM Wizard' workflows that generate full 3D Revit models from 2D PDFs, reducing drafting and preconstruction cycles by up to 75%.\n4. AI Data Center Infrastructure Boom (McCormick Systems / NECA-IBEW 48, 2026): Reports highlight that AI technology expansion is driving massive high-density power construction, where electrical scope accounts for 45-70% of data center costs (vs 20-30% in commercial builds), forcing contractors to adopt AI takeoff tools to quickly bid on complex, high-demand power contracts.", "adoption_examples_source": "MDPI Buildings Journal (2026) - 'Automated Construction Cost Estimation Framework Using Model Context Protocol and Building Information Modeling'. https://www.mdpi.com/journal/buildings | Electrical Contractor Magazine / ELECTRI International (2025) - 'How A.I. Is Streamlining Daily Workflows / State of A.I. in Electrical Contracting'. https://www.ecmag.com | NECA-IBEW Local 48 (2026) - 'Guide to AI & the Electrical Industry: What You Should Know'. https://necaibew48.com | Drawer AI (2026) - 'AI for Electrical Takeoff, Estimating, and BIM Coordination'. https://drawer.ai | McCormick Systems (2026) - 'How AI is Creating Demand for Electrical Contractors'. https://mccormicksys.com | United BIM (2026) - 'Key Applications of AI in Construction Management, Estimating, and BIM'. https://united-bim.com | Total Skills (2026) - 'Why Electrical Work Is Robot-Proof: AI and Automation Analysis'. https://totalskills.co.uk | American Career Training (2026) - 'Electrical Lineman Work is a Skilled Trade that Cannot Be Done by AI'. https://americancareertraining.edu", "adoption_examples_confidence": "low", "ai_adoption_rate_pct_source_access": "citation-text-only", "adoption_examples_source_access": "url" }, "leadgen_platforms": { "marketplace_penetration_pct": 1.5, "marketplace_penetration_pct_source": "Angi Inc. Q1 2026 Earnings Call Transcript (2026), https://www.fool.com/earnings/call-transcripts/2026/05/06/angi-angi-q1-2026-earnings-call-transcript", "marketplace_penetration_pct_research_pass_count": 5, "marketplace_penetration_pct_confidence": "med", "platform_take_rate_pct": 10, "platform_take_rate_pct_source": "Angi Inc. Q1 2026 Shareholder Letter & Earnings Call (May 2026) - https://ir.angi.com", "platform_take_rate_pct_research_pass_count": 5, "platform_take_rate_pct_confidence": "high", "platforms_note": "For electrical trade contractors and home service pros on pay-per-lead marketplaces (e.g., Angi, Thumbtack), average lead costs range from $40 to $80 per shared lead (ranging from $15 for minor outlet fixes to $100+ for panel upgrades/rewiring). Contractors typically win 1 in 7 to 1 in 8 leads (10-15% conversion rate).", "platforms_note_source": "Angi Inc. Q1 2026 Earnings Call (May 2026) - https://ir.angi.com", "marketplace_penetration_pct_shared_across": 11, "marketplace_penetration_pct_note": "This figure is an industry-wide benchmark, not a per-trade measurement: the same value is published for 11 trade or segment records in this dataset. Read it as the specialty-trade baseline, not as a finding that distinguishes this trade from another.", "platform_take_rate_pct_shared_across": 13, "platform_take_rate_pct_note": "This figure is an industry-wide benchmark, not a per-trade measurement: the same value is published for 13 trade or segment records in this dataset. Read it as the specialty-trade baseline, not as a finding that distinguishes this trade from another.", "marketplace_penetration_pct_source_access": "url", "platform_take_rate_pct_source_access": "url", "platforms_note_source_access": "url" }, "acquisition_mix": { "pct_marketplace": 28, "pct_marketplace_source": "Home Services Marketing Report (2025), https://www.angi.com", "pct_marketplace_research_pass_count": 2, "pct_marketplace_confidence": "low", "acquisition_year": "2025", "pct_marketplace_shared_across": 4, "pct_marketplace_note": "This figure is an industry-wide benchmark, not a per-trade measurement: the same value is published for 4 trade or segment records in this dataset. Read it as the specialty-trade baseline, not as a finding that distinguishes this trade from another.", "pct_marketplace_source_access": "url" }, "insurance_warranty": { "home_warranty_penetration_pct": 6, "home_warranty_penetration_pct_source": "Frontdoor, Inc. Form 10-K (2025), https://www.sec.gov/edgar/browse/?CIK=0001739445", "home_warranty_penetration_pct_research_pass_count": 5, "home_warranty_penetration_pct_confidence": "med", "intermediation_note": "Home warranty companies act as third-party intermediaries between homeowners and trade contractors (including electrical contractors) by managing customer acquisition, dispatching service requests, controlling job allocation, establishing reimbursement rate schedules, and monitoring service quality. When a covered electrical system breakdown occurs, the homeowner submits a service claim directly to the warranty provider rather than hiring a contractor directly. The warranty company dispatches an independent contractor firm from its network, with Frontdoor reporting its preferred contractor network completed 85% of its service requests in 2024. This model supplies trade contractors with steady job volume and reduced marketing costs, but intermediaries own the customer relationship, set compensation caps, and mandate service level agreements.", "intermediation_note_source": "Frontdoor, Inc., Form 10-K Annual Report (2024), https://www.sec.gov/edgar/browse/?CIK=0001727263", "home_warranty_penetration_pct_shared_across": 6, "home_warranty_penetration_pct_note": "This figure is an industry-wide benchmark, not a per-trade measurement: the same value is published for 6 trade or segment records in this dataset. Read it as the specialty-trade baseline, not as a finding that distinguishes this trade from another.", "home_warranty_penetration_pct_source_access": "url", "intermediation_note_source_access": "url" }, "recurring_mix": { "recurring_revenue_pct": 35.5, "recurring_revenue_pct_source": "EC&M / NECA 2024 Profile of the Electrical Contractor Survey (2024), https://www.ecmag.com/magazine/articles/article-detail/2024-profile-of-the-electrical-contractor; cross-checked with Comfort Systems USA, Inc. 2025 Form 10-K (2026), https://www.sec.gov/edgar/browse/?CIK=0001035983", "recurring_revenue_pct_research_pass_count": 4, "recurring_revenue_pct_confidence": "med", "service_agreement_attach_pct": 15, "service_agreement_attach_pct_source": "SmartService Trade Field Service Benchmarks, 2024", "service_agreement_attach_pct_research_pass_count": 3, "service_agreement_attach_pct_confidence": "med", "recurring_note": "Public electrical and mechanical specialty contractors report maintenance and service revenue ranging from 7.3% (Comfort Systems USA, 2025 10-K) to 21% (EMCOR Group, 2025 10-K). According to industry M&A analysis by Cascade Partners, electrical contractors with 25% or more recurring revenue command 1 to 3 turns of premium EBITDA multiples.", "recurring_note_source": "Cascade Partners, Electrical Contractor M&A Market Update, 2025/2026, https://www.cascade-partners.com", "recurring_revenue_pct_source_access": "url", "service_agreement_attach_pct_source_access": "citation-text-only", "recurring_note_source_access": "url" }, "contract_terms": { "typical_contract_length_months": 12, "typical_contract_length_months_source": "Comfort Systems USA, Inc., Form 10-Q for the quarterly period ended March 31, 2026 (filed April 23, 2026), Note 3 (Revenue from Contracts with Customers): 'Our service maintenance agreements are generally one-year renewable agreements.' https://www.sec.gov/ix?doc=/Archives/edgar/data/1035983/000103598326000014/fix-20260331.htm", "typical_contract_length_months_research_pass_count": 5, "typical_contract_length_months_confidence": "high", "renewal_rate_pct": 85, "renewal_rate_pct_source": "CT Acquisitions, 2026", "renewal_rate_pct_research_pass_count": 4, "renewal_rate_pct_confidence": "low", "stickiness_note": "Customer relationships in the US electrical trade demonstrate significant stickiness and lock-in, driven by long-standing master service agreements (MSAs) and preferred-provider positioning. High technical complexity, regulatory compliance requirements, and operational switching costs lead customers to rely on established contractors for repeat project work and ongoing maintenance across multi-year cycles.", "stickiness_note_source": "IES Holdings, Inc., Form 10-K for the fiscal year ended September 30, 2025 (filed November 21, 2025), Item 1 - Business: 'A significant portion of our Residential business volume is generated from long-term, repeat customers, some of whom use IES as a preferred provider for major projects.'", "typical_contract_length_months_shared_across": 8, "typical_contract_length_months_note": "This figure is an industry-wide benchmark, not a per-trade measurement: the same value is published for 8 trade or segment records in this dataset. Read it as the specialty-trade baseline, not as a finding that distinguishes this trade from another.", "typical_contract_length_months_source_access": "url", "renewal_rate_pct_source_access": "citation-text-only", "stickiness_note_source_access": "citation-text-only" }, "cross_sell": { "avg_services_per_customer": 5.2, "avg_services_per_customer_derived": true, "avg_services_per_customer_source": "Trade Economy Index research synthesis: median of 1 cited research input: Sunnova Energy International Inc. (2022), Analyst Day Investor Presentation, https://www.q4cdn.com", "avg_services_per_customer_research_pass_count": 2, "avg_services_per_customer_confidence": "low", "upsell_attach_pct": 27.5, "upsell_attach_pct_derived": true, "upsell_attach_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: Electrician Marketing Agency, Electrical Industry Statistics & Market Analysis, 2025, https://electricianmarketingagency.com | Skill Mammoth (2026), Residential Electrical & EV Charger Upgrade Benchmarks, https://skillmammoth.com", "upsell_attach_pct_research_pass_count": 2, "upsell_attach_pct_confidence": "low", "cross_sell_note": "Electrical contractors and trade platforms routinely expand into adjacent categories such as low-voltage wiring, fire alarm/life safety, building automation systems, EV charging, and integrated MEP (mechanical, electrical, and plumbing) services to increase customer wallet share, smooth seasonal revenue, and build high-margin recurring service streams.", "cross_sell_note_source": "Cascade Partners, Electrical Contracting and Utility Infrastructure M&A Market Update, 2026, https://cascade-partners.com", "avg_services_per_customer_source_access": "url", "upsell_attach_pct_source_access": "url", "cross_sell_note_source_access": "url" }, "capital_intensity": { "startup_cost_usd": 204988, "startup_cost_usd_source": "Mister Sparky 2026 Franchise Disclosure Document (FDD), Item 7 (https://www.peersense.com/franchise/mister-sparky) reporting a startup investment range of $133,273 to $276,702 (midpoint: $204,988); cross-checked with Mr. Electric SPV LLC 2026 Franchise Disclosure Document (FDD), Item 7 reporting an initial investment range of $159,500 to $357,425.", "startup_cost_usd_research_pass_count": 5, "startup_cost_usd_confidence": "med", "capex_pct_of_revenue": 2.58, "capex_pct_of_revenue_source": "MYR Group Inc. Form 10-K for the Fiscal Year Ended December 31, 2025 ($94.4 million CapEx / $3,657.9 million contract revenues), 2026, https://www.myrgroup.com", "capex_pct_of_revenue_research_pass_count": 5, "capex_pct_of_revenue_confidence": "med", "equipment_note": "Electrical contracting requires fleet vehicles (including service trucks, bucket trucks, digger derricks, and cranes for line work), specialized tools (wire pullers, tensioning machines, conduit benders, and testing devices), and regional or centralized fleet maintenance facilities.", "equipment_note_source": "MYR Group Inc. Form 10-K for the Fiscal Year Ended December 31, 2025, 2026, https://www.myrgroup.com", "startup_cost_usd_source_access": "url", "capex_pct_of_revenue_source_access": "url", "equipment_note_source_access": "url" }, "regulatory_burden": { "permit_burden_note": "Electrical contractors in the U.S. operate within a fragmented compliance framework governed by state and municipal adoption cycles of National Fire Protection Association standard NFPA 70 (National Electrical Code / NEC). As of 2025, code enforcement varies across jurisdictions, with 20 states implementing the 2023 NEC, 19 states enforcing the 2020 NEC, 5 states using the 2017 NEC, and 2 states relying on the 2008 NEC, alongside local amendments by Authorities Having Jurisdiction (AHJs). Operators must manage local building permit approvals, plan reviews, pre-commissioning inspections, and state-level master/journeyman electrician licensing requirements.", "permit_burden_note_source": "National Fire Protection Association (NFPA), 2025, https://www.nfpa.org/education-and-research/electrical/nec-enforcement-maps", "compliance_cost_note": "Compliance costs for electrical trade businesses include direct operational, administrative, and workforce expenses. Operators must meet OSHA construction and general industry standards (29 CFR 1926 Subpart K and 29 CFR 1910 Subpart S), implement NFPA 70E electrical safety workplace practices (arc flash assessments, specialized PPE, and safety training), and adhere to NFPA 70B standards requiring formal Electrical Maintenance Programs (EMPs). Overhead costs are further compounded by state licensing renewal fees, mandatory continuing education units (CEUs), commercial general liability insurance, surety bonding, and administrative labor for permit processing.", "compliance_cost_note_source": "Occupational Safety and Health Administration (OSHA) / NFPA, 2026, https://www.ecfr.gov/current/title-29/part-1926/subpart-K", "regulatory_tailwind_note": "Federal and state regulations are driving substantial demand growth for electrical service providers. The U.S. Department of Energy administers $8.8 billion in Inflation Reduction Act (IRA) Home Energy Rebates, including the Home Electrification and Appliance Rebates (HEAR/HEEHRA) program, which provides up to $4,000 for electrical panel upgrades and up to $2,500 for wiring upgrades. Demand is further accelerated by the $5 billion National Electric Vehicle Infrastructure (NEVI) Formula Program under the Bipartisan Infrastructure Law and municipal adoptions of the International Code Council's 2024 International Energy Conservation Code (IECC Appendices CG and RE), which mandate EV-ready and EV-capable infrastructure for commercial and residential construction.", "regulatory_tailwind_note_source": "U.S. Department of Energy (DOE) / International Code Council (ICC), 2026", "permit_burden_note_source_access": "url", "compliance_cost_note_source_access": "url", "regulatory_tailwind_note_source_access": "citation-text-only" }, "data_assets": { "iot_telemetry_penetration_pct": 35, "iot_telemetry_penetration_pct_source": "World Metrics Electrical Contractor Technology Adoption Report, 2026, https://worldmetrics.org", "iot_telemetry_penetration_pct_research_pass_count": 5, "iot_telemetry_penetration_pct_confidence": "med", "data_assets_note": "Electrical contractors and power distribution platforms systematically accumulate structured asset and job data including circuit-level load metering, real-time energy telemetry, total harmonic distortion (%THD), true RMS voltage/current readings, waveform captures, breaker trip logs, panel schedules, wire runs, work orders, and project estimating data.", "data_assets_note_source": "Eaton Corporation, 'IQ Energy Meters & Smart Panel Solutions', 2024, https://www.eaton.com; NECA / NECA-IBEW Local 48, 'Guide to AI & the Electrical Industry', 2026, https://www.necaibew48.com", "iot_telemetry_penetration_pct_source_access": "url", "data_assets_note_source_access": "url" }, "consolidation": { "consolidation_activity": "The US electrical trade is experiencing highly active and accelerating private equity roll-up and consolidation. According to Capstone Partners' AEC Services Sector Update (2026, https://www.capstonepartners.com), M&A deal volume across AEC and electrical/construction services rose 10.1% YoY in 2025 to 361 transactions, propelled by private equity transactions which surged 32.7% YoY. PE buyers accounted for 38.3% of all sector deals in 2025, up 181.6% since 2018, with sector EBITDA multiples averaging 13.2x EV/EBITDA. Additionally, PitchBook Data cited by BMI Mergers & Acquisitions (2025, https://www.bmimergers.com) reported that lower-middle-market electrical contractor M&A volume increased 13% in 2024 as financial sponsors deployed buy-and-build strategies. According to PE Hub (2025, https://www.pehub.com), consolidation intensity is particularly strong in electrical power infrastructure, grid services, and technical electrical contracting, where secular tailwinds from AI data center buildouts and power grid modernization have driven exit valuations up to 16x-20x EBITDA.", "consolidation_activity_source": "Capstone Partners AEC Services Sector Update (2026, https://www.capstonepartners.com); PitchBook Data via BMI Mergers & Acquisitions (2025, https://www.bmimergers.com); PE Hub (2025, https://www.pehub.com)", "notable_platforms": "Notable private equity platforms and public company acquirers actively rolling up US electrical contractors and power service providers include: (1) Shermco Industries, acquired by Blackstone Energy Transition Partners from Gryphon Investors in August 2025 for $1.6B as an electrical power testing, inspection, and maintenance platform (PE Hub, 2025, https://www.pehub.com; Axios Pro, 2025, https://www.axios.com); (2) Apex Service Partners, backed by Alpine Investors, which has grown into a major multi-trade roll-up platform with ~$1.3B in annual revenue covering residential/commercial HVAC, plumbing, and electrical services (CT Acquisitions, 2026, https://www.ctacquisitions.com); (3) Champions Group, acquired by Blackstone via its BXPE fund in February 2026 for ~$2.5B enterprise value as an electrical, plumbing, and HVAC services platform (CT Acquisitions, 2026, https://www.ctacquisitions.com); (4) Norlee Group, backed by Heartwood Partners, an electrical and mechanical design platform that acquired Tampa-based Inter-Bay Electric Company in November 2025 (PE Hub, 2025, https://www.pehub.com); (5) Bowe & Gant Electrical Services, which secured a majority growth investment from Greenbelt Capital Management in July 2026 for electrical and energy infrastructure services (PE Hub, 2026, https://www.pehub.com); and (6) MYR Group Inc. (NASDAQ: MYRG), a public strategic consolidator acquiring regional commercial electrical contractors (Main Street Wealth / MYR Group, 2025, https://www.myrgroup.com).", "notable_platforms_source": "PE Hub (2025/2026, https://www.pehub.com); Axios Pro (2025, https://www.axios.com); CT Acquisitions PE Trackers (2026, https://www.ctacquisitions.com)", "sources": [ "https://www.capstonepartners.com", "https://www.pehub.com", "https://www.axios.com", "https://www.bmimergers.com", "https://www.ctacquisitions.com" ], "consolidation_activity_source_access": "url", "notable_platforms_source_access": "url" }, "multiples": { "typical_ebitda_multiple_low": 3.5, "typical_ebitda_multiple_low_source": "Auxo Capital Advisors (2026, https://auxocapitaladvisors.com), reporting low-end EBITDA multiples starting at 3.5x for smaller, owner-dependent US electrical contractors; cross-checked with BMI Mergers & Acquisitions (2024, https://bmimergers.com), reporting low-end ranges of 3.5x-5.0x EBITDA for smaller electrical contractors.", "typical_ebitda_multiple_low_research_pass_count": 3, "typical_ebitda_multiple_low_confidence": "adjudicated", "typical_ebitda_multiple_high": 8.5, "typical_ebitda_multiple_high_source": "Auxo Capital Advisors (2026, https://auxocapitaladvisors.com), reporting high-end EBITDA multiples of 8.5x+ for scaled platform companies and strategic add-ons; cross-checked with GF Data / BMI Mergers & Acquisitions (2025, https://bmimergers.com), reporting averages of 7.8x-8.0x+ EBITDA for larger electrical platforms.", "typical_ebitda_multiple_high_research_pass_count": 3, "typical_ebitda_multiple_high_confidence": "high", "multiple_by_size_note": "According to GF Data figures cited by BMI Mergers, valuation multiples increase significantly with company size: smaller electrical contracting acquisitions ($3 million to $8 million in EBITDA) average 6.2x to 6.4x EBITDA, whereas larger deals ($8 million+ EBITDA) command an average multiple of 7.8x EBITDA. Across the broader trade, smaller or less attractive shops tend to sell for 5.0x EBITDA or less, while larger, more attractive platforms reach 8.0x EBITDA or higher.", "multiple_by_size_note_source": "BMI Mergers & Acquisitions, 'A Surge in Connections: Electrical Contractor M&A Rebounds' (2025)", "multiple_year": "2025", "typical_ebitda_multiple_low_source_access": "url", "typical_ebitda_multiple_high_source_access": "url", "multiple_by_size_note_source_access": "citation-text-only" }, "exit_environment": { "buyer_demand": "Buyer demand for US electrical contracting and services businesses is strong, driven by active private equity sponsors and strategic consolidators building market scale. Demand is propelled by long-term tailwinds including rapid AI data center expansion, grid modernization, renewable energy infrastructure, and federal funding. Buyers place the highest value on scaled operators with strong safety records, robust project backlogs, skilled technician retention, high-margin specialized service capabilities, and recurring service revenue.", "buyer_demand_source": "CLA Meridian Capital, Electrical Contracting Services M&A Update (2025), https://www.meridianib.com/reports/electrical-contracting-services-ma-update", "exit_trend": "The exit trend for US electrical business owners is heating up, characterized by accelerating deal flow and rising private equity participation. In 2025, M&A volume in the subcontractor segment increased 38.6% year-over-year to 366 deals, with private equity M&A rising 30.9% year-over-year to 305 transactions, marking the first time financial buyers represented the majority (54.3%) of sector transactions. Valuations remain strong, averaging 6.2x-7.8x EBITDA for lower-middle-market businesses and reaching 9.0x-10.8x EBITDA for larger platform and data-center specialized targets.", "exit_trend_source": "Capstone Partners, Construction Services Market Update (2026)", "sources": [ "https://www.meridianib.com/reports/electrical-contracting-services-ma-update", "" ], "buyer_demand_source_access": "url", "exit_trend_source_access": "citation-text-only" }, "demand_drivers": { "installed_base_units": 145344636, "installed_base_units_source": "U.S. Census Bureau (2024), https://www.census.gov/programs-surveys/popest.html", "installed_base_units_research_pass_count": 3, "installed_base_units_confidence": "med", "replacement_vs_new_note": "According to the Profile of the Electrical Contractor research by ELECTRI International and Electrical Contractor Magazine, maintenance, service, or repair (MSR) accounts for 39.7% of electrical contractor revenue, new construction accounts for 31.7%, and modernization and retrofit projects account for approximately 28.6%.", "replacement_vs_new_note_source": "ELECTRI International / Electrical Contractor Magazine (2026), https://www.ecmag.com", "demand_drivers_note": "Key demand drivers for the U.S. electrical trade include private and public construction spending, rapid growth in data center construction driven by AI demand, building infrastructure electrification (such as EV charging and heat pumps), energy efficiency upgrades, and retrofits or repairs for aging building stock.", "demand_drivers_note_source": "IBISWorld (2026), https://www.ibisworld.com/united-states/market-research-reports/electricians-industry", "installed_base_units_shared_across": 5, "installed_base_units_note": "This figure is an industry-wide benchmark, not a per-trade measurement: the same value is published for 5 trade or segment records in this dataset. Read it as the specialty-trade baseline, not as a finding that distinguishes this trade from another.", "installed_base_units_source_access": "url", "replacement_vs_new_note_source_access": "url", "demand_drivers_note_source_access": "url" }, "macro_correlation": { "housing_correlation_note": "U.S. residential construction spending (FRED series TLRESCONS) and housing starts (FRED series HOUST, U.S. Census Bureau) drive baseline residential electricity demand by increasing total housing stock, customer counts, and floor area. According to a U.S. Department of Energy (DOE / PNNL) study, expansions in residential floor space driven by population growth and home construction are the single largest long-term driver of building electricity demand growth, far exceeding climate drivers. Furthermore, the U.S. Energy Information Administration (EIA) reports that structural electrification in newly constructed homes has increased residential power demand intensity, with 42% of U.S. homes using electricity as their primary space heating fuel in 2024.", "housing_correlation_note_source": "U.S. Department of Energy (DOE) / Pacific Northwest National Laboratory (PNNL), 'Population Growth Drives Future Building Electricity Consumption' (2020), ; U.S. Census Bureau & FRED, 'New Privately-Owned Housing Units Started: Total Units' (HOUST) (2026), https://fred.stlouisfed.org/series/HOUST ; U.S. Census Bureau & FRED, 'Total Construction Spending: Residential in the United States' (TLRESCONS) (2026), https://fred.stlouisfed.org/series/TLRESCONS ; U.S. Energy Information Administration (EIA), 'Electricity use is becoming more common for residential heating' (2025), https://www.eia.gov/todayinenergy/detail.php?id=63222", "commercial_correlation_note": "Commercial construction spending (FRED series TLCOMCONS, U.S. Census Bureau) historically correlated with overall commercial floor area and power sales, but demand growth is increasingly decoupled from pure square footage due to structural shifts toward high-power-density facilities like data centers. The U.S. Energy Information Administration (EIA) projects commercial electricity sales to surpass residential sales, driven heavily by data center computing construction. EIA reports that servers accounted for 7% of commercial building electricity consumption in 2025 and are projected to reach 22% to 33% of commercial building electricity consumption by 2050, reversing historical trends in commercial energy intensity per square foot.", "commercial_correlation_note_source": "U.S. Energy Information Administration (EIA), 'Annual Energy Outlook 2026' (AEO2026) & STEO Analysis (2026), https://www.eia.gov/todayinenergy/detail.php?id=62422 ; U.S. Census Bureau & FRED, 'Total Construction Spending: Commercial in the United States' (TLCOMCONS) (2026), https://fred.stlouisfed.org/series/TLCOMCONS", "climate_sensitivity_note": "U.S. power demand exhibits strong short-term sensitivity to climate and seasonal weather variations, primarily measured via population-weighted Cooling Degree Days (CDDs) for air conditioning and Heating Degree Days (HDDs) for space heating. The U.S. Energy Information Administration (EIA) estimates that space heating, cooling, and ventilation account for 46% of all energy consumed in U.S. residential and commercial buildings. Under EIA long-term warmer climate scenarios, increasing CDDs drive a 4% to 5% increase in building electricity consumption nationwide by 2050 due to rising summer cooling loads, elevating peak summer electricity demand and wholesale prices.", "climate_sensitivity_note_source": "U.S. Energy Information Administration (EIA), 'Annual Energy Outlook 2022: Weather Sensitivity Analysis' (2022), https://www.eia.gov/todayinenergy/detail.php?id=52678 ; U.S. Environmental Protection Agency (EPA), 'Climate Change Indicators: Seasonal Energy Use' (2022)", "housing_correlation_note_source_access": "url", "commercial_correlation_note_source_access": "url", "climate_sensitivity_note_source_access": "url" }, "search_interest": { "yoy_search_change_pct": 40, "yoy_search_change_pct_source": "Portland Peak SEO (Electrical Search Landscape: Data Behind Electrician SEO Services, 2026)", "yoy_search_change_pct_research_pass_count": 1, "yoy_search_change_pct_confidence": "low", "search_trend_note": "Consumer search interest for US electrical services is trending strongly upward, driven by high-intent local queries such as 'electrician near me' as well as rapidly growing specialized requests like EV charger installations.", "search_trend_note_source": "Amra & Elma (2025), https://www.amraandelma.com/electrical-marketing-statistics", "yoy_search_change_pct_source_access": "citation-text-only", "search_trend_note_source_access": "url" }, "cust_acquisition": { "typical_cac_usd": 109.5, "typical_cac_usd_source": "FirstPageSage, Average Customer Acquisition Cost (CAC) by Industry: B2C Edition, 2025", "typical_cac_usd_research_pass_count": 4, "typical_cac_usd_confidence": "med", "avg_review_volume": 39, "avg_review_volume_source": "BrightLocal (2026), https://searchendurance.com (Cross-checked with Trustmary (2025), https://trustmary.com)", "avg_review_volume_research_pass_count": 5, "avg_review_volume_confidence": "med", "complaint_categories": "Service or Repair Issues, Customer Service Issues, Billing Issues, Order Issues, Product Issues", "complaint_categories_source": "Better Business Bureau (BBB), US BBB Statistics and Complaint Classifications, 2023", "avg_review_volume_shared_across": 6, "avg_review_volume_note": "This figure is an industry-wide benchmark, not a per-trade measurement: the same value is published for 6 trade or segment records in this dataset. Read it as the specialty-trade baseline, not as a finding that distinguishes this trade from another.", "typical_cac_usd_source_access": "citation-text-only", "avg_review_volume_source_access": "url", "complaint_categories_source_access": "citation-text-only" } }, "subtrade": { "residential": { "bad_debt": { "bad_debt_write_off_pct": 0.0010207715133531158, "bad_debt_write_off_pct_source": "IES Holdings, Inc. Form 10-K for the Fiscal Year Ended September 30, 2025, https://www.sec.gov/Archives/edgar/data/1048268/000104826825000174/iesc-20250930.htm", "bad_debt_write_off_pct_research_pass_count": 3, "bad_debt_write_off_pct_confidence": "adjudicated", "collection_rate_pct": 85.1, "collection_rate_pct_source": "Level CFO State of Contractor Finance Report (2026), https://levelcfo.com/reports/state-of-contractor-finance-2026", "collection_rate_pct_research_pass_count": 3, "collection_rate_pct_confidence": "high", "bad_debt_year": "2025", "collection_rate_pct_shared_across": 23, "collection_rate_pct_note": "This figure is an industry-wide benchmark, not a per-trade measurement: the same value is published for 23 trade or segment records in this dataset. Read it as the specialty-trade baseline, not as a finding that distinguishes this trade from another.", "bad_debt_write_off_pct_source_access": "url", "collection_rate_pct_source_access": "url" }, "cash_cycle_detail": { "dso_days": 56.6, "dso_days_source": "CFMA 2024 Construction Financial Benchmarker, 2024, https://cfma.org", "dso_days_research_pass_count": 3, "dso_days_confidence": "med", "dpo_days": 28.45, "dpo_days_source": "IES Holdings, Inc. FY2024 Form 10-K, 2024, https://www.sec.gov/ix?doc=/Archives/edgar/data/1048286/000104828624000049/iesc-20240930.htm", "dpo_days_research_pass_count": 1, "dpo_days_confidence": "low", "cash_conversion_cycle_days": 48.36, "cash_conversion_cycle_days_source": "Computed from IES Holdings, Inc. FY2024 Form 10-K financial statements (DSO 66.31 days + DIO 10.50 days - DPO 28.45 days), 2024, https://www.sec.gov/ix?doc=/Archives/edgar/data/1048286/000104828624000049/iesc-20240930.htm", "cash_conversion_cycle_days_research_pass_count": 1, "cash_conversion_cycle_days_confidence": "low", "cash_cycle_year": "2024", "dso_days_shared_across": 11, "dso_days_note": "This figure is an industry-wide benchmark, not a per-trade measurement: the same value is published for 11 trade or segment records in this dataset. Read it as the specialty-trade baseline, not as a finding that distinguishes this trade from another.", "dso_days_source_access": "url", "dpo_days_source_access": "url", "cash_conversion_cycle_days_source_access": "url" }, "cost_structure": { "labor_pct_of_revenue": 31.7, "labor_pct_of_revenue_source": "IBISWorld US Industry Report 23821 (Electricians in the US), https://www.ibisworld.com/united-states/market-research-reports/electricians-industry", "labor_pct_of_revenue_research_pass_count": 2, "labor_pct_of_revenue_confidence": "med", "materials_pct_of_revenue": 36.5, "materials_pct_of_revenue_source": "IBISWorld US Industry Report 23821 (Electricians in the US), https://www.ibisworld.com/united-states/market-research-reports/electricians-industry", "materials_pct_of_revenue_research_pass_count": 2, "materials_pct_of_revenue_confidence": "med", "sga_overhead_pct": 22, "sga_overhead_pct_source": "IBISWorld US Industry Report 23821 (Electricians in the US), https://www.ibisworld.com/united-states/market-research-reports/electricians-industry", "sga_overhead_pct_research_pass_count": 3, "sga_overhead_pct_confidence": "med", "cost_structure_year": "2021", "labor_pct_of_revenue_shared_across": 4, "labor_pct_of_revenue_note": "This figure is an industry-wide benchmark, not a per-trade measurement: the same value is published for 4 trade or segment records in this dataset. Read it as the specialty-trade baseline, not as a finding that distinguishes this trade from another.", "labor_pct_of_revenue_source_access": "url", "materials_pct_of_revenue_source_access": "url", "sga_overhead_pct_source_access": "url" }, "demand_drivers": { "installed_base_units": 145344636, "installed_base_units_source": "U.S. Census Bureau, Vintage 2023 Housing Unit Estimates (2024)", "installed_base_units_research_pass_count": 3, "installed_base_units_confidence": "med", "replacement_vs_new_note": "According to IBISWorld industry data, approximately one-third of overall electrician revenue in the U.S. is derived from electrical upgrades, alterations, and replacements on existing structures, with the remainder coming from new construction wiring, maintenance, and repairs. Furthermore, U.S. Census Bureau Value of Construction Put in Place data divides private residential construction spending into new single-family structures, new multi-family structures, and residential improvements/remodeling.", "replacement_vs_new_note_source": "IBISWorld, Electricians in the US Industry Report (2026), https://www.ibisworld.com/united-states/market-research-reports/electricians-industry/ and U.S. Census Bureau, Value of Construction Put in Place Survey (2025), https://www.census.gov/construction/c30/historical_data.html", "demand_drivers_note": "Primary demand drivers for the residential electrical trade include residential electrification trends (such as Level 2 EV charger installations, heat pump retrofits, and induction cooking), service panel upgrades (e.g., expanding capacity from 100-amp to 200-amp panels to support higher electrical loads), an aging housing stock requiring rewiring and safety compliance (AFCI/GFCI additions), home remodeling and smart automation adoption, and overall single-family/multi-family new housing starts.", "demand_drivers_note_source": "U.S. Energy Information Administration (EIA), Residential Energy Consumption Survey (2023), https://www.eia.gov/consumption/residential/ and IBISWorld, Electricians in the US Industry Report (2026), https://www.ibisworld.com/united-states/market-research-reports/electricians-industry", "installed_base_units_shared_across": 5, "installed_base_units_note": "This figure is an industry-wide benchmark, not a per-trade measurement: the same value is published for 5 trade or segment records in this dataset. Read it as the specialty-trade baseline, not as a finding that distinguishes this trade from another.", "installed_base_units_source_access": "citation-text-only", "replacement_vs_new_note_source_access": "url", "demand_drivers_note_source_access": "url" }, "macro_correlation": { "housing_correlation_note": "Housing starts (U.S. Census Bureau) and residential construction spending expand the overall residential building stock and utility customer base, serving as a foundational macro driver of long-term residential electricity demand. However, EIA Residential Energy Consumption Survey (RECS) data show that energy efficiency gains in newer housing stock (such as heat pumps, insulation, and LED lighting) reduce per-household energy intensity, causing residential load growth to expand at a slower rate than raw housing stock growth.", "housing_correlation_note_source": "U.S. Energy Information Administration (EIA), Residential Energy Consumption Survey (RECS) Housing Characteristics, 2025, https://www.eia.gov/consumption/residential", "commercial_correlation_note": "Commercial construction spending (FRED series TLCOMCONS / U.S. Census Bureau) tracks commercial floor space growth, which drives non-residential electricity load. According to the EIA Annual Energy Outlook 2026, electricity demand growth in the commercial sector is projected to outpace growth in the residential sector through 2050 due to data center expansion and commercial cooling demand, while residential demand remains comparatively steady and less elastic relative to non-residential construction booms.", "commercial_correlation_note_source": "U.S. Energy Information Administration (EIA), Annual Energy Outlook 2026, 2026, https://www.eia.gov/outlooks/aeo", "climate_sensitivity_note": "U.S. residential electricity demand displays extreme short-term climate and weather sensitivity, driven by seasonal space cooling (Cooling Degree Days, CDD) and space heating (Heating Degree Days, HDD). NOAA's Residential Energy Demand Temperature Index (REDTI) documents seasonal detrended correlations between population-weighted degree days and residential energy demand ranging from 0.70 to 0.86, with household-level correlations with temperature degree days reaching up to 0.97.", "climate_sensitivity_note_source": "National Oceanic and Atmospheric Administration (NOAA) NCEI, Residential Energy Demand Temperature Index (REDTI), 2021, https://www.ncei.noaa.gov/access/monitoring/redti", "housing_correlation_note_source_access": "url", "commercial_correlation_note_source_access": "url", "climate_sensitivity_note_source_access": "url" }, "margins": { "gross_margin_pct": 26.2, "gross_margin_pct_source": "IES Holdings, Inc. Form 10-K (FY 2024) - Residential Segment, https://www.sec.gov/ix?doc=/Archives/edgar/data/1048286/000104828624000052/iesc-20240930.htm", "gross_margin_pct_research_pass_count": 3, "gross_margin_pct_confidence": "med", "operating_margin_pct": 9.9, "operating_margin_pct_source": "IES Holdings, Inc. Form 10-K (FY 2024) - Residential Segment, https://www.sec.gov/ix?doc=/Archives/edgar/data/1048286/000104828624000052/iesc-20240930.htm", "operating_margin_pct_research_pass_count": 3, "operating_margin_pct_confidence": "med", "net_margin_pct": 6.9, "net_margin_pct_source": "CFMA Construction Financial Benchmarker (2024) - Specialty Trade Contractors Net Income Before Taxes Margin, https://www.cfma.org", "net_margin_pct_research_pass_count": 3, "net_margin_pct_confidence": "med", "margin_year": "2024", "net_margin_pct_shared_across": 4, "net_margin_pct_note": "This figure is an industry-wide benchmark, not a per-trade measurement: the same value is published for 4 trade or segment records in this dataset. Read it as the specialty-trade baseline, not as a finding that distinguishes this trade from another.", "gross_margin_pct_source_access": "url", "operating_margin_pct_source_access": "url", "net_margin_pct_source_access": "url" }, "productivity": { "revenue_per_employee_usd": 257243, "revenue_per_employee_usd_source": "U.S. Census Bureau, 2022 Economic Census (NAICS 238210 - Electrical Contractors and Other Wiring Installation Contractors; $249.2 billion output / 968,734 employees), https://data.census.gov (cross-checked against IBISWorld Industry Report 238210: Electricians in the US, 2025, reporting $256,000 per employee, https://www.ibisworld.com)", "revenue_per_employee_usd_research_pass_count": 3, "revenue_per_employee_usd_confidence": "high-primary", "gross_profit_per_labor_hour_usd": 92, "gross_profit_per_labor_hour_usd_source": "Level CFO Electrical Contractor Benchmarks (Level Index), 2025, https://www.levelcfo.com", "gross_profit_per_labor_hour_usd_research_pass_count": 1, "gross_profit_per_labor_hour_usd_confidence": "low", "billable_utilization_pct": 65, "billable_utilization_pct_source": "National Electrical Contractors Association (NECA) Benchmarking Data, https://www.necanet.org", "billable_utilization_pct_research_pass_count": 2, "billable_utilization_pct_confidence": "high", "productivity_year": "2022", "billable_utilization_pct_shared_across": 7, "billable_utilization_pct_note": "This figure is an industry-wide benchmark, not a per-trade measurement: the same value is published for 7 trade or segment records in this dataset. Read it as the specialty-trade baseline, not as a finding that distinguishes this trade from another.", "revenue_per_employee_usd_source_access": "url", "gross_profit_per_labor_hour_usd_source_access": "url", "billable_utilization_pct_source_access": "url" }, "retainage_liens": { "retainage_year": "2023" }, "search_interest": { "yoy_search_change_pct": 19, "yoy_search_change_pct_derived": true, "yoy_search_change_pct_source": "Trade Economy Index research synthesis: median of 1 cited research input: vrid.ai, 2026, https://vrid.ai", "yoy_search_change_pct_research_pass_count": 1, "yoy_search_change_pct_confidence": "med", "search_trend_note": "Consumer search interest for US residential electrical services shows strong upward momentum, driven by high local search intent and surges in demand for specialized residential services such as EV charger installation and electrical panel upgrades.", "search_trend_note_source": "vrid.ai, 2026, https://vrid.ai", "yoy_search_change_pct_source_access": "url", "search_trend_note_source_access": "url" }, "seasonality_econ": { "peak_period_note": "Results of operations in residential electrical contracting are seasonal based on weather trends and construction activity, with higher revenues generated during spring and summer and lower revenues generated during fall and winter.", "peak_period_note_source": "IES Holdings, Inc. Form 10-K Annual Report (2025), https://www.sec.gov", "cyclicality_note": "Residential electrical contracting is highly cyclical and sensitive to regional and national economic conditions, single-family and multi-family housing starts, elevated interest rates, and home affordability challenges. Demand fluctuates directly with wider construction and housing market cycles.", "cyclicality_note_source": "IES Holdings, Inc. Form 10-K Annual Report (2025), https://www.sec.gov", "peak_period_note_source_access": "url", "cyclicality_note_source_access": "url" } }, "commercial": { "bad_debt": { "bad_debt_write_off_pct": 0.117, "bad_debt_write_off_pct_source": "EMCOR Group, Inc. Form 10-K Annual Report for the Fiscal Year Ended December 31, 2025, filed February 20, 2026, URL: https://www.sec.gov/ix?doc=/Archives/edgar/data/105608/000010560826000009/eme-20251231.htm", "bad_debt_write_off_pct_research_pass_count": 3, "bad_debt_write_off_pct_confidence": "low", "collection_rate_pct": 85.1, "collection_rate_pct_source": "The Level Index Contractor Benchmarks (2024), corroborated by CFMA 2024 Construction Financial Benchmarker. https://levelcfo.com", "collection_rate_pct_research_pass_count": 3, "collection_rate_pct_confidence": "low", "bad_debt_year": "2024", "collection_rate_pct_shared_across": 23, "collection_rate_pct_note": "This figure is an industry-wide benchmark, not a per-trade measurement: the same value is published for 23 trade or segment records in this dataset. Read it as the specialty-trade baseline, not as a finding that distinguishes this trade from another.", "bad_debt_write_off_pct_source_access": "url", "collection_rate_pct_source_access": "url" }, "cash_cycle_detail": { "dso_days": 59, "dso_days_source": "Quanta Services, Inc. Form 10-K for the Fiscal Year Ended December 31, 2024, Item 7 (URL: https://www.sec.gov/ix?doc=/Archives/edgar/data/0001050915/000105091525000008/pwr-20241231.htm)", "dso_days_research_pass_count": 3, "dso_days_confidence": "med", "dpo_days": 33, "dpo_days_source": "EMCOR Group, Inc. Form 10-K (FY2025) - https://www.sec.gov/edgar/searchedgar/companysearch", "dpo_days_research_pass_count": 3, "dpo_days_confidence": "high", "cash_conversion_cycle_days": 51.68, "cash_conversion_cycle_days_derived": true, "cash_conversion_cycle_days_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: EMCOR Group, Inc. Form 10-K (FY2025) - https://www.sec.gov/edgar/searchedgar/companysearch | Comfort Systems USA, Inc. FY2024 Form 10-K (https://www.sec.gov/edgar/searchedgar/companysearch)", "cash_conversion_cycle_days_research_pass_count": 2, "cash_conversion_cycle_days_confidence": "low", "cash_cycle_year": "2025", "dpo_days_shared_across": 8, "dpo_days_note": "This figure is an industry-wide benchmark, not a per-trade measurement: the same value is published for 8 trade or segment records in this dataset. Read it as the specialty-trade baseline, not as a finding that distinguishes this trade from another.", "dso_days_source_access": "url", "dpo_days_source_access": "url", "cash_conversion_cycle_days_source_access": "url" }, "cost_structure": { "labor_pct_of_revenue": 31.7, "labor_pct_of_revenue_source": "IBISWorld US Industry (NAICS) Report 23821: Electricians in the US (2021) - https://www.ibisworld.com; cross-checked against CFMA 2024 Construction Financial Benchmarker (Specialty Trades NAICS 238210) - https://www.cfma.org", "labor_pct_of_revenue_research_pass_count": 3, "labor_pct_of_revenue_confidence": "med", "materials_pct_of_revenue": 36.5, "materials_pct_of_revenue_source": "IBISWorld US Industry (NAICS) Report 23821: Electricians in the US (2021) - https://www.ibisworld.com; cross-checked against CFMA 2024 Construction Financial Benchmarker (Specialty Trades NAICS 238210 Direct Costs) - https://www.cfma.org", "materials_pct_of_revenue_research_pass_count": 2, "materials_pct_of_revenue_confidence": "med", "sga_overhead_pct": 9.7, "sga_overhead_pct_source": "EMCOR Group, Inc. 2024 Form 10-K, https://www.sec.gov", "sga_overhead_pct_research_pass_count": 3, "sga_overhead_pct_confidence": "high", "cost_structure_year": "2021-2024", "labor_pct_of_revenue_shared_across": 4, "labor_pct_of_revenue_note": "This figure is an industry-wide benchmark, not a per-trade measurement: the same value is published for 4 trade or segment records in this dataset. Read it as the specialty-trade baseline, not as a finding that distinguishes this trade from another.", "labor_pct_of_revenue_source_access": "url", "materials_pct_of_revenue_source_access": "url", "sga_overhead_pct_source_access": "url" }, "demand_drivers": { "installed_base_units": 5918000, "installed_base_units_source": "U.S. Energy Information Administration (EIA), Commercial Buildings Energy Consumption Survey (CBECS), 2018 (released 2022), https://www.eia.gov/consumption/commercial", "installed_base_units_research_pass_count": 3, "installed_base_units_confidence": "high-primary", "replacement_vs_new_note": "According to IBISWorld, while the majority of electrical work is performed on new construction, approximately one-third (33%) of electrical contractor revenue is generated from electrical upgrades, alterations, maintenance, and retrofits to existing structures.", "replacement_vs_new_note_source": "IBISWorld, Electricians in the US Report, 2026, https://www.ibisworld.com/united-states/market-research-reports/electricians-industry", "demand_drivers_note": "Primary demand drivers for the commercial electrical trade include nonresidential commercial construction spending (particularly hyperscale data centers, manufacturing, and institutional facilities), energy efficiency retrofits (such as LED lighting upgrades and Building Automation Systems), grid electrification, and EV charging infrastructure deployment.", "demand_drivers_note_source": "U.S. Census Bureau, Value of Construction Put in Place Survey, 2025", "installed_base_units_source_access": "url", "replacement_vs_new_note_source_access": "url", "demand_drivers_note_source_access": "citation-text-only" }, "macro_correlation": { "housing_correlation_note": "Commercial electricity consumption shows an indirect, lagged correlation with residential construction and housing starts (e.g., U.S. Census Bureau series HOUST). Econometric modeling (Contreras, Smith, & Fullerton, 2011) demonstrates that commercial power demand is directly driven by service sector income, business establishment counts, and commercial floor area rather than residential construction directly; however, residential neighborhood growth creates localized demand for downstream commercial services (retail, healthcare, education). In the U.S. Energy Information Administration Short-Term Energy Outlook (May 2026), residential electricity sales are forecast to grow at a flat 0.5% per year in 2026-2027, while commercial electricity demand expands by 2.2% in 2026 and 5.3% in 2027, surpassing residential electricity sales for the first time on record in 2027 due to computing and commercial sector growth.", "housing_correlation_note_source": "U.S. Energy Information Administration (EIA), Short-Term Energy Outlook (2026), https://www.eia.gov/outlooks/steo/ ; Contreras, S., Smith, W., & Fullerton, T. M., 'U.S. Commercial Electricity Consumption,' Mountain Plains Journal of Business and Economics (2011), https://openspaces.unk.edu/mpjbt/vol12/iss1/3 ; U.S. Census Bureau, New Residential Construction (2026)", "commercial_correlation_note": "Commercial electricity demand strongly correlates with commercial construction activity and nonresidential spending series (FRED series TTLCONS / TLCOMMCONS). In the U.S. Energy Information Administration Annual Energy Outlook 2026 (AEO2026), commercial sector electricity consumption is explicitly modeled as a function of commercial floorspace growth (projected at 0.8% to 1.2% per year through 2050) and commercial sector GDP. As commercial square footage expands, especially across data centers, office buildings, and retail spaces, baseline power needs for space cooling, heating, ventilation, lighting, and server computing grow proportionally. EIA projects commercial sector electricity use to grow at an average rate of 0.9% to 1.6% annually through 2050, outpacing residential and industrial sectors across all modeled cases.", "commercial_correlation_note_source": "U.S. Energy Information Administration (EIA), Annual Energy Outlook 2026 (2026), https://www.eia.gov/outlooks/aeo/ ; Federal Reserve Bank of St. Louis (FRED), Total Construction Spending in the United States [TTLCONS] (2026), https://fred.stlouisfed.org/series/TTLCONS", "climate_sensitivity_note": "U.S. commercial electricity demand displays high seasonal climate and weather sensitivity, driven primarily by summer space cooling demands measured in Cooling Degree Days (CDDs). According to the U.S. Energy Information Administration (Short-Term Energy Outlook, July 2026; AEO Weather Sensitivity Analysis), commercial electricity demand peaks during summer months (June-September), where a 2% year-over-year increase in summer CDDs corresponds to a 3% growth in commercial electricity power demand. EIA long-term scenario modeling indicates that warmer long-term weather projections increase purchased electricity consumption in commercial and residential buildings by 4% by 2050 due to cooling loads. Academic research (ACEEE, 2014) shows space cooling in buildings exhibits a non-linear relationship (exponent of ~1.5) relative to CDD deviations, making commercial power loads highly sensitive to summer heatwaves.", "climate_sensitivity_note_source": "U.S. Energy Information Administration (EIA), Short-Term Energy Outlook (2026), https://www.eia.gov/outlooks/steo/ ; U.S. Energy Information Administration (EIA), Annual Energy Outlook Issues in Focus: Alternative Weather Assumptions (2022), https://www.eia.gov/outlooks/aeo/ ; American Council for an Energy-Efficient Economy (ACEEE), 'Optimizing Cooling Degree Day Estimates for Building Energy Demand' (2014), https://www.aceee.org", "housing_correlation_note_source_access": "url", "commercial_correlation_note_source_access": "url", "climate_sensitivity_note_source_access": "url" }, "margins": { "gross_margin_pct": 22.4, "gross_margin_pct_source": "CFMA Construction Financial Benchmarker (2024), https://cfma.org; cross-checked against MYR Group Inc. Form 10-K (2023), https://www.sec.gov", "gross_margin_pct_research_pass_count": 3, "gross_margin_pct_confidence": "med", "operating_margin_pct": 7.1, "operating_margin_pct_source": "CFMA Construction Financial Benchmarker (2024), https://cfma.org; cross-checked against EMCOR Group, Inc. Form 10-K (2023), https://www.sec.gov", "operating_margin_pct_research_pass_count": 3, "operating_margin_pct_confidence": "med", "margin_year": "2024", "gross_margin_pct_shared_across": 9, "gross_margin_pct_note": "This figure is an industry-wide benchmark, not a per-trade measurement: the same value is published for 9 trade or segment records in this dataset. Read it as the specialty-trade baseline, not as a finding that distinguishes this trade from another.", "operating_margin_pct_shared_across": 14, "operating_margin_pct_note": "This figure is an industry-wide benchmark, not a per-trade measurement: the same value is published for 14 trade or segment records in this dataset. Read it as the specialty-trade baseline, not as a finding that distinguishes this trade from another.", "gross_margin_pct_source_access": "url", "operating_margin_pct_source_access": "url" }, "productivity": { "revenue_per_employee_usd": 257240.23, "revenue_per_employee_usd_source": "U.S. Census Bureau, 2022 Economic Census (NAICS 238210 - Electrical Contractors and Other Wiring Installation Contractors), https://www.census.gov/programs-surveys/economic-census.html", "revenue_per_employee_usd_research_pass_count": 3, "revenue_per_employee_usd_confidence": "high", "gross_profit_per_labor_hour_usd": 101.5, "gross_profit_per_labor_hour_usd_derived": true, "gross_profit_per_labor_hour_usd_source": "Trade Economy Index research synthesis: median of 1 cited research input: Level CFO, Electrical Industry Benchmarks (2025), https://levelcfo.com/benchmarks/electrical", "gross_profit_per_labor_hour_usd_research_pass_count": 2, "gross_profit_per_labor_hour_usd_confidence": "low", "billable_utilization_pct": 67.5, "billable_utilization_pct_derived": true, "billable_utilization_pct_source": "Trade Economy Index research synthesis: median of 1 cited research input: National Electrical Contractors Association (NECA), Financial Performance Report & Benchmarking Data, 2025, https://www.necanet.org", "billable_utilization_pct_research_pass_count": 1, "billable_utilization_pct_confidence": "med", "productivity_year": "2022-2025", "revenue_per_employee_usd_source_access": "url", "gross_profit_per_labor_hour_usd_source_access": "url", "billable_utilization_pct_source_access": "url" }, "retainage_liens": { "typical_retainage_pct": 10, "typical_retainage_pct_source": "Construction Financial Management Association (CFMA) Retainage Overview, 2026, https://www.cfma.org", "typical_retainage_pct_research_pass_count": 1, "typical_retainage_pct_confidence": "med", "retainage_year": "2024", "typical_retainage_pct_shared_across": 11, "typical_retainage_pct_note": "This figure is an industry-wide benchmark, not a per-trade measurement: the same value is published for 11 trade or segment records in this dataset. Read it as the specialty-trade baseline, not as a finding that distinguishes this trade from another.", "typical_retainage_pct_source_access": "url" }, "search_interest": { "yoy_search_change_pct": 36, "yoy_search_change_pct_derived": true, "yoy_search_change_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: Amra & Elma (2025), 'Electrical Marketing Statistics', https://www.amraandelma.com/electrical-marketing-statistics | Kynexpro (2026), 'AI-Powered Electrical Contractor Marketing Trends in 2026', https://kynexpro.com", "yoy_search_change_pct_research_pass_count": 2, "yoy_search_change_pct_confidence": "low", "yoy_search_change_pct_source_access": "url" }, "seasonality_econ": { "peak_period_note": "Revenue seasonality in US commercial electrical contracting is relatively muted compared to residential and outdoor trades because most commercial work is conducted inside weather-protected structures. Where seasonal variation occurs, peak operational activity typically spans spring and summer, while severe winter weather causes project delays, particularly for outdoor commercial and utility infrastructure installations.", "peak_period_note_source": "IES Holdings, Inc. Form 10-K (2024), https://www.sec.gov/ix?doc=/Archives/edgar/data/1052000/000105200024000063/iesc-20240930.htm; MYR Group Inc. Form 10-K (2024), https://www.sec.gov/ix?doc=/Archives/edgar/data/1442145/000144214525000012/myrg-20241231.htm", "cyclicality_note": "The US commercial electrical contracting market exhibits high cyclical exposure tied directly to broader economic conditions, interest rate trends, commercial construction starts, and corporate capital expenditure budgets. Downturns in regional or national economies lead to project delays, reduced bidding opportunities, and backlog contraction.", "cyclicality_note_source": "IES Holdings, Inc. Form 10-K (2024), https://www.sec.gov/ix?doc=/Archives/edgar/data/1052000/000105200024000063/iesc-20240930.htm; MYR Group Inc. Form 10-K (2024), https://www.sec.gov/ix?doc=/Archives/edgar/data/1442145/000144214525000012/myrg-20241231.htm", "peak_period_note_source_access": "url", "cyclicality_note_source_access": "url" } }, "industrial": { "bad_debt": { "bad_debt_write_off_pct": 0.033, "bad_debt_write_off_pct_source": "EMCOR Group, Inc. Form 10-K for the Fiscal Year Ended December 31, 2024 (filed February 24, 2025), https://www.sec.gov/ix?doc=/Archives/edgar/data/105663/00010566325000007/eme-20241231.htm", "bad_debt_write_off_pct_research_pass_count": 3, "bad_debt_write_off_pct_confidence": "med", "collection_rate_pct": 85.1, "collection_rate_pct_source": "Level State of Contractor Finance Report (2026), https://levelcfo.com", "collection_rate_pct_research_pass_count": 2, "collection_rate_pct_confidence": "low", "bad_debt_year": "2024", "collection_rate_pct_shared_across": 23, "collection_rate_pct_note": "This figure is an industry-wide benchmark, not a per-trade measurement: the same value is published for 23 trade or segment records in this dataset. Read it as the specialty-trade baseline, not as a finding that distinguishes this trade from another.", "bad_debt_write_off_pct_source_access": "url", "collection_rate_pct_source_access": "url" }, "cash_cycle_detail": { "dso_days": 57, "dso_days_source": "CFMA 2024 Financial Benchmarker (Electrical & Trade Contractors), https://cfma.org/benchmarker", "dso_days_research_pass_count": 3, "dso_days_confidence": "adjudicated", "dpo_days": 33, "dpo_days_source": "EMCOR Group, Inc. Form 10-K for Fiscal Year Ended December 31, 2025, https://www.sec.gov", "dpo_days_research_pass_count": 3, "dpo_days_confidence": "low", "cash_conversion_cycle_days": 36.13, "cash_conversion_cycle_days_source": "Quanta Services, Inc. FY2023 Form 10-K, SEC EDGAR, https://www.sec.gov/ix?doc=/Archives/edgar/data/1050915/000105091524000008/pwr-20231231.htm", "cash_conversion_cycle_days_research_pass_count": 2, "cash_conversion_cycle_days_confidence": "adjudicated", "cash_cycle_year": "2025", "dpo_days_shared_across": 8, "dpo_days_note": "This figure is an industry-wide benchmark, not a per-trade measurement: the same value is published for 8 trade or segment records in this dataset. Read it as the specialty-trade baseline, not as a finding that distinguishes this trade from another.", "dso_days_source_access": "url", "dpo_days_source_access": "url", "cash_conversion_cycle_days_source_access": "url" }, "cost_structure": { "labor_pct_of_revenue": 31.7, "labor_pct_of_revenue_source": "IBISWorld, Electrical Contractors in the US (2021 Revenue Breakdown, cited in BBB Industry Profile), https://www.bbb.org", "labor_pct_of_revenue_research_pass_count": 3, "labor_pct_of_revenue_confidence": "med", "materials_pct_of_revenue": 36.5, "materials_pct_of_revenue_source": "IBISWorld, Electrical Contractors in the US (2021 Revenue Breakdown, cited in BBB Industry Profile), https://www.bbb.org", "materials_pct_of_revenue_research_pass_count": 2, "materials_pct_of_revenue_confidence": "high", "sga_overhead_pct": 22, "sga_overhead_pct_source": "IBISWorld, Electrical Contractors in the US (2021 Revenue Breakdown, cited in BBB Industry Profile), https://www.bbb.org", "sga_overhead_pct_research_pass_count": 3, "sga_overhead_pct_confidence": "med", "cost_structure_year": "2021", "labor_pct_of_revenue_shared_across": 4, "labor_pct_of_revenue_note": "This figure is an industry-wide benchmark, not a per-trade measurement: the same value is published for 4 trade or segment records in this dataset. Read it as the specialty-trade baseline, not as a finding that distinguishes this trade from another.", "labor_pct_of_revenue_source_access": "url", "materials_pct_of_revenue_source_access": "url", "sga_overhead_pct_source_access": "url" }, "demand_drivers": { "replacement_vs_new_note": "New construction accounts for 36.6% of U.S. electrical contractor revenue, while replacement, maintenance, repair, and retrofits account for 63.4% (comprising 35.7% maintenance/service/repair and 28.0% modernization/retrofit).", "replacement_vs_new_note_source": "IBISWorld, 2026, https://www.ibisworld.com", "demand_drivers_note": "Primary demand drivers for the U.S. industrial and commercial electrical trade include rapid expansion of data centers and AI computing infrastructure, manufacturing reshoring and high-tech plant construction (semiconductors, clean technology), grid modernization, building electrification, solar and battery storage integration, EV charging deployment, and stricter code compliance standards (such as NFPA 70B).", "demand_drivers_note_source": "National Electrical Contractors Association (NECA) / IBISWorld, 2026, https://www.necanet.org", "replacement_vs_new_note_source_access": "url", "demand_drivers_note_source_access": "url" }, "macro_correlation": { "housing_correlation_note": "U.S. industrial electricity demand is driven primarily by manufacturing processes rather than building footprint, but it exhibits an indirect positive correlation with housing starts and residential construction. Housing starts create upstream demand for energy-intensive industrial products including primary metals, cement, glass, wood, and electrical equipment. While residential electricity consumption directly correlates with housing units and population, industrial electricity consumption fluctuates with manufacturing output cycles tied to construction supply chains.", "housing_correlation_note_source": "U.S. Census Bureau, New Residential Construction (2024), https://www.census.gov/construction/nrc/index.html; Federal Reserve Bank of St. Louis (FRED), Housing Starts: Total New Privately Owned Housing Units Started [HOUST] (2026), https://fred.stlouisfed.org/series/HOUST; U.S. Energy Information Administration (EIA), Retail Electricity Sales Module Documentation (2023)).pdf", "commercial_correlation_note": "Commercial construction spending directly drives commercial electricity sales through added floor space and HVAC/lighting load, while its relationship with industrial electricity demand is indirect via manufacturing demand. Increases in commercial construction activity drive production in heavy manufacturing industries (such as structural steel, concrete, HVAC manufacturing, and transformer production). Econometric models by the EIA demonstrate that industrial electricity sales depend primarily on macroeconomic output, industrial production indices, and manufacturing employment rather than commercial floor space additions.", "commercial_correlation_note_source": "U.S. Census Bureau / Federal Reserve Bank of St. Louis (FRED), Total Construction Spending: Commercial in the United States [TLCOMCON] (2026), https://fred.stlouisfed.org/series/TLCOMCON; U.S. Energy Information Administration (EIA), Retail Electricity Sales Module Documentation (2023)).pdf", "climate_sensitivity_note": "U.S. industrial electricity demand exhibits substantially lower climate and weather sensitivity compared to the residential and commercial sectors. Space heating and cooling represent a minimal fraction of industrial power consumption, which is dominated by year-round baseload manufacturing processes, electro-chemical processing, and heavy equipment. Consequently, regression models using Heating Degree Days (HDD) and Cooling Degree Days (CDD) show low temperature elasticities for industrial power sales compared to the steep seasonal weather swings observed in residential and commercial power consumption.", "climate_sensitivity_note_source": "U.S. Energy Information Administration (EIA), Retail Electricity Sales Module Documentation (2023)).pdf; Obringer et al., Applied Energy / NSF (2020), U.S. Energy Information Administration (EIA), Monthly Energy Review (2026), https://www.eia.gov/totalenergy/data/monthly", "housing_correlation_note_source_access": "url", "commercial_correlation_note_source_access": "url", "climate_sensitivity_note_source_access": "url" }, "margins": { "gross_margin_pct": 22.4, "gross_margin_pct_source": "CFMA 2024 Construction Financial Benchmarker, https://www.cfma.org", "gross_margin_pct_research_pass_count": 3, "gross_margin_pct_confidence": "high-primary", "operating_margin_pct": 7.1, "operating_margin_pct_source": "CFMA 2024 Construction Financial Benchmarker, https://www.cfma.org", "operating_margin_pct_research_pass_count": 3, "operating_margin_pct_confidence": "med", "margin_year": "2024", "gross_margin_pct_shared_across": 9, "gross_margin_pct_note": "This figure is an industry-wide benchmark, not a per-trade measurement: the same value is published for 9 trade or segment records in this dataset. Read it as the specialty-trade baseline, not as a finding that distinguishes this trade from another.", "operating_margin_pct_shared_across": 14, "operating_margin_pct_note": "This figure is an industry-wide benchmark, not a per-trade measurement: the same value is published for 14 trade or segment records in this dataset. Read it as the specialty-trade baseline, not as a finding that distinguishes this trade from another.", "gross_margin_pct_source_access": "url", "operating_margin_pct_source_access": "url" }, "productivity": { "revenue_per_employee_usd": 257243, "revenue_per_employee_usd_source": "US Census Bureau 2022 Economic Census (NAICS 238210: Electrical Contractors and Other Wiring Installation Contractors), https://www.census.gov/programs-surveys/economic-census.html (calculated from $249.2B total output divided by 968,734 paid employees = $257,243 per employee); cross-checked against IBISWorld Industry Report 23821: Electricians in the US (2025, $256,000 per employee), https://www.ibisworld.com/united-states/market-research-reports/electricians-industry", "revenue_per_employee_usd_research_pass_count": 3, "revenue_per_employee_usd_confidence": "low", "billable_utilization_pct": 70, "billable_utilization_pct_source": "National Electrical Contractors Association (NECA) Financial Performance Report & CFMA Financial Benchmarker, https://www.necanet.org", "billable_utilization_pct_research_pass_count": 1, "billable_utilization_pct_confidence": "low", "productivity_year": "2022", "billable_utilization_pct_shared_across": 5, "billable_utilization_pct_note": "This figure is an industry-wide benchmark, not a per-trade measurement: the same value is published for 5 trade or segment records in this dataset. Read it as the specialty-trade baseline, not as a finding that distinguishes this trade from another.", "revenue_per_employee_usd_source_access": "url", "billable_utilization_pct_source_access": "url" }, "retainage_liens": { "typical_retainage_pct": 10, "typical_retainage_pct_source": "CFMA (Construction Financial Management Association), 2022", "typical_retainage_pct_research_pass_count": 1, "typical_retainage_pct_confidence": "low", "retainage_year": "2019", "typical_retainage_pct_shared_across": 11, "typical_retainage_pct_note": "This figure is an industry-wide benchmark, not a per-trade measurement: the same value is published for 11 trade or segment records in this dataset. Read it as the specialty-trade baseline, not as a finding that distinguishes this trade from another.", "typical_retainage_pct_source_access": "citation-text-only" }, "search_interest": { "yoy_search_change_pct": 32, "yoy_search_change_pct_source": "Amra & Elma (2026), https://www.amraandelma.com/electrical-marketing-statistics", "yoy_search_change_pct_research_pass_count": 2, "yoy_search_change_pct_confidence": "low", "search_trend_note": "US search interest for electrical services shows strong upward momentum driven by a digital-first shift among customers seeking service providers.", "search_trend_note_source": "Amra & Elma (2026), https://www.amraandelma.com/electrical-marketing-statistics", "yoy_search_change_pct_source_access": "url", "search_trend_note_source_access": "url" }, "seasonality_econ": { "peak_period_note": "Third quarter and fourth quarter revenues are typically the highest of the year, as a greater number of projects are underway and operating conditions, including weather, are normally more accommodating. During the fourth quarter, projects are often completed and customers often seek to spend their capital budgets before year end.", "peak_period_note_source": "Quanta Services, Inc., 2025 Form 10-K (Annual Report for the Fiscal Year Ended December 31, 2025), published February 19, 2026, https://www.sec.gov/ix?doc=/Archives/edgar/data/1050915/000105091526000004/pwr-20251231.htm", "cyclicality_note": "Projects are cyclical in nature and subject to risks of delay or cancellation. Timing or failure to obtain contracts, delays in project awards, start dates, or completion, and cancellations caused by macroeconomic downturns or customer industry spending slowdowns can result in significant periodic fluctuations in revenues, operating results, and cash flows.", "cyclicality_note_source": "Quanta Services, Inc., 2025 Form 10-K (Annual Report for the Fiscal Year Ended December 31, 2025), published February 19, 2026, https://www.sec.gov/ix?doc=/Archives/edgar/data/1050915/000105091526000004/pwr-20251231.htm", "peak_period_note_source_access": "url", "cyclicality_note_source_access": "url" } } }, "segments": { "bands": [ { "band": "0-1M", "band_label": "under $1M annual revenue (owner-operator / very small shop)", "metrics": { "gross_margin_pct": { "value": 38.5, "source": "IBISWorld / Lightning Path Partners 2026 https://lightningpathpartners.com/blog/electrical-company-profit-margins", "confidence": "med", "basis": "Residential service electrical contractors in the $500K-$2M revenue tier", "source_access": "url" }, "collection_rate_pct": { "value": 85.1, "source": "Level CFO analysis of 464 contractors, https://levelcfo.com/benchmarks/contractor", "confidence": "low", "basis": "Median cash collected as a percentage of amounts billed, n=464 companies", "source_access": "url" }, "dso_days": { "value": 30, "source": "ClearReceivables 2026 https://clearreceivables.com/dso-benchmarks-by-industry", "confidence": "med", "basis": "Target DSO for residential and small commercial electrical contractors", "source_access": "url" } } }, { "band": "1-5M", "band_label": "$1M to $5M annual revenue (small established contractor)", "metrics": { "gross_margin_pct": { "value": 22.4, "source": "Construction Financial Management Association (CFMA) 2024 https://cfma.org", "confidence": "med", "basis": "Gross profit margin for Specialty Trade contractors (NAICS 238210/238220) in the under $10M revenue tier", "source_access": "url" }, "collection_rate_pct": { "value": 85.1, "source": "Level CFO analysis of 464 contractors, https://levelcfo.com/benchmarks/contractor", "confidence": "low", "basis": "Median cash collected as a percentage of amounts billed, n=464 companies", "source_access": "url" }, "dso_days": { "value": 56.6, "source": "Construction Financial Management Association (CFMA) 2024 https://cfma.org", "confidence": "med", "basis": "Average Days Sales Outstanding (DSO) for Specialty Trade contractors", "source_access": "url" }, "recurring_rev_pct": { "value": 20, "source": "Cascade Partners 2025 https://cascade-partners.com", "confidence": "low", "basis": "Estimated baseline recurring maintenance and service agreement revenue share for small electrical contractors", "source_access": "url" } } }, { "band": "5-20M", "band_label": "$5M to $20M annual revenue (mid-market, multi-crew)", "metrics": { "gross_margin_pct": { "value": 22.4, "source": "Construction Financial Management Association (CFMA) 2024 https://cfma.org", "confidence": "med", "basis": "Gross profit margin for Specialty Trade contractors (NAICS 238210 Electrical Contractors)", "source_access": "url" }, "collection_rate_pct": { "value": 85.1, "source": "Level CFO analysis of 464 contractors, https://levelcfo.com/benchmarks/contractor", "confidence": "med", "basis": "Median cash collected as a percentage of amounts billed, n=464 companies", "source_access": "url" }, "dso_days": { "value": 52, "source": "Construction Financial Management Association (CFMA) 2024 https://cfma.org", "confidence": "med", "basis": "Average Days Sales Outstanding (DSO) for specialty trade electrical contractors", "source_access": "url" }, "recurring_rev_pct": { "value": 14, "source": "National Electrical Contractors Association (NECA) 2024 https://www.necanet.org", "confidence": "med", "basis": "Share of total revenue from commercial maintenance agreements and service contracts", "source_access": "url" } } }, { "band": "20M+", "band_label": "over $20M annual revenue (large / regional / PE-backed)", "metrics": { "gross_margin_pct": { "value": 21.8, "source": "Construction Financial Management Association (CFMA), 2024, https://cfma.org/articles/cfma-s-2-24-construction-financial-benchmarker-executive-summary", "confidence": "high", "basis": "Gross profit margin percentage for Best in Class Specialty Trade contractors", "source_access": "url" }, "dso_days": { "value": 76, "source": "National Electrical Contractors Association (NECA), 2023, https://www.ecmag.com", "confidence": "high", "basis": "Average collection cycle (DSO) in days for electrical contractors in the >$20M revenue tier", "source_access": "url" }, "recurring_rev_pct": { "value": 25, "source": "Cascade Partners, 2025, https://cascade-partners.com", "confidence": "med", "basis": "Benchmark recurring service and maintenance agreement revenue share of total revenue", "source_access": "url" } } } ] }, "geo": { "states": [ { "name": "Alabama", "where": "AL", "median_hourly_wage_usd": 24.76, "wage_differential_vs_national_pct": -16.9, "median_wage_source": "U.S. Bureau of Labor Statistics (BLS) OEWS, 2023, https://www.bls.gov/oes/current/oes_al.htm", "license_regime": "A state-level license is required to perform electrical work in Alabama. Commercial, industrial, and low-voltage electrical work is regulated state-wide by the Alabama Electrical Contractors Board (AECB), while residential electrical work is regulated under the Home Builders Licensure Board (HBLB). License tiers under the AECB include Electrical Contractor (unlimited in voltage and project value) and Journeyman Electrician.", "license_source": "Alabama Electrical Contractors Board, 2025, https://www.aecb.alabama.gov", "bonding_requirement": "The Alabama Electrical Contractors Board does not mandate a statewide surety bond or general liability insurance as a prerequisite to obtain or hold a state electrical contractor or journeyman license, though local municipalities or general contractors may require bonding and insurance at the local permit or contract level.", "bonding_source": "Alabama Electrical Contractors Board, 2025, https://www.aecb.alabama.gov", "market_size_or_density_note": "Alabama has an estimated employment total of 10,250 electricians (BLS SOC 47-2111) with a location quotient of 1.06, indicating worker density slightly above the US national average.", "market_source": "U.S. Bureau of Labor Statistics (BLS) OEWS, 2023, https://www.bls.gov/oes/current/oes_al.htm", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 24.76 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "url", "bonding_source_access": "url", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "Alaska", "where": "AK", "median_hourly_wage_usd": 39.5, "wage_differential_vs_national_pct": 32.57, "median_wage_source": "U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/current/oes_ak.htm and https://www.bls.gov/oes/current/oes472111.htm", "license_regime": "State-level licensing is required in Alaska. The state operates a dual regulatory system: the Department of Labor and Workforce Development (DOLWD) Mechanical Inspection Section issues individual Certificates of Fitness (tiers include Trainee, Residential Wireman, Journeyman Electrician, and Journeyman Power Lineman) to perform code work. Contracting and project supervision require an Electrical Administrator license and Specialty Contractor (Electrical) registration from the Department of Commerce, Community, and Economic Development (DCCED) Division of Corporations, Business and Professional Licensing (CBPL) (administrator categories include Unlimited Commercial Wiring, Residential Wiring, Controls and Control Wiring, Inside Communications, Outside Communications, and Unlimited Line Work).", "license_source": "Alaska Department of Commerce, Community, and Economic Development - Division of Corporations, Business and Professional Licensing (2024), https://www.commerce.alaska.gov/web/cbpl/ and Alaska Department of Labor and Workforce Development - Mechanical Inspection Section (2024)", "bonding_requirement": "Electrical specialty contractors must post a $10,000 surety bond (Alaska Statute AS 08.18.071). In addition, contractors must maintain public liability and property damage insurance of at least $20,000 for property damage, $50,000 for injury/death to one person, and $100,000 for injury/death to more than one person (AS 08.18.101), along with statutory workers' compensation insurance if employing workers.", "bonding_source": "Alaska Department of Commerce, Community, and Economic Development - Division of Corporations, Business and Professional Licensing (2024), https://www.commerce.alaska.gov/web/cbpl", "market_size_or_density_note": "Alaska had 1,620 employed electricians (SOC 47-2111) in May 2023, representing an occupational density of 5.209 electricians per 1,000 jobs and a location quotient of 1.11 relative to the national average.", "market_source": "U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/current/oes_ak.htm", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 39.5 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "url", "bonding_source_access": "url", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "Arizona", "where": "AZ", "median_hourly_wage_usd": 29.06, "wage_differential_vs_national_pct": -2.47, "median_wage_source": "U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/current/oes_az.htm", "license_regime": "A state-level license is required to perform electrical contracting work in Arizona; local (city/county) jurisdictions do not issue separate trade licenses. Licensing is administered statewide by the Arizona Registrar of Contractors (AZ ROC). License classification tiers for electrical contractors include Commercial Electrical (C-11), Residential Electrical (R-11 / CR-11), and Dual Commercial/Residential Electrical Contractor (CR-11). Individual journeymen do not hold a state license but work under a licensed contractor's qualifying party.", "license_source": "Arizona Registrar of Contractors, License Classifications, 2024, https://roc.az.gov/license-classifications", "bonding_requirement": "Pursuant to A.R.S. § 32-1152, contractors must hold a surety bond or cash deposit ranging from $2,500 to $100,000 based on license classification and estimated gross annual volume (e.g., $4,250 to $7,500 for specialty residential, $2,500 to $50,000 for specialty commercial). Residential and dual license holders must also contribute to the Residential Contractors Recovery Fund assessment.", "bonding_source": "Arizona Registrar of Contractors, Bond Requirements (A.R.S. § 32-1152), 2024, https://roc.az.gov/bond-information", "market_size_or_density_note": "Arizona employs 17,640 electricians (SOC 47-2111) statewide, representing an employment density of 5.635 per 1,000 jobs (location quotient of 1.20 relative to the US average).", "market_source": "U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/current/oes_az.htm", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 29.06 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "url", "bonding_source_access": "url", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "Arkansas", "where": "AR", "median_hourly_wage_usd": 23.31, "wage_differential_vs_national_pct": -21.77, "median_wage_source": "U.S. Bureau of Labor Statistics (BLS), May 2023 State Occupational Employment and Wage Estimates - Arkansas, https://www.bls.gov/oes/current/oes_ar.htm", "license_regime": "Statewide licensing is required in Arkansas. Individual electrician licenses are regulated at the state level by the Arkansas Board of Electrical Examiners (under the Arkansas Department of Labor and Licensing). Tiers include Master Electrician, Journeyman Electrician, Residential Master Electrician, Residential Journeyman Electrician, Air Conditioning Electrician, Industrial Maintenance Electrician, Sign Specialist, and Registered Apprentice. Additionally, electrical contractors undertaking commercial projects valued at $50,000 or more (or residential projects exceeding $2,000) must hold an Electrical Contractor license issued by the Arkansas Contractors Licensing Board (ACLB).", "license_source": "Arkansas Department of Labor and Licensing, Board of Electrical Examiners, 2024, https://www.labor.arkansas.gov/licensing/board-of-electrical-examiners", "bonding_requirement": "Commercial electrical contractors licensed by the Arkansas Contractors Licensing Board (ACLB) must maintain a $10,000 contractor surety bond. Employers with one or more employees must also maintain Workers' Compensation insurance.", "bonding_source": "Arkansas Contractors Licensing Board (ACLB), Contractor Licensing Requirements & Rules, 2024, https://aclb.arkansas.gov", "market_size_or_density_note": "According to BLS OEWS data, Arkansas employed 7,650 electricians (SOC 47-2111) with a location quotient of 1.28 (representing 6.021 electricians per 1,000 jobs in the state), reflecting an above-average trade density relative to the national employment benchmark.", "market_source": "U.S. Bureau of Labor Statistics (BLS), May 2023 State Occupational Employment and Wage Estimates - Arkansas, https://www.bls.gov/oes/current/oes_ar.htm", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 23.31 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "url", "bonding_source_access": "url", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "California", "where": "CA", "median_hourly_wage_usd": 37.25, "wage_differential_vs_national_pct": 25.02, "median_wage_source": "U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/current/oes_ca.htm", "license_regime": "State-level licensing is required in California. Contracting for electrical work valued at $500 or more requires a Class C-10 Electrical Contractor License issued by the California Contractors State License Board (CSLB). Individual trade professionals performing electrical work must hold a state-issued Journeyman Electrician Certification administered by the California Department of Industrial Relations (DIR) Division of Labor Standards Enforcement (DLSE).", "license_source": "California Contractors State License Board (CSLB), 2024, https://www.cslb.ca.gov", "bonding_requirement": "All C-10 license holders must file a $25,000 contractor license bond with the CSLB. LLC contractor licensees must additionally hold a $100,000 employee/worker bond and carry general liability insurance ($1,000,000 minimum aggregate). Workers' compensation insurance is required for any contractor with employees.", "bonding_source": "California Contractors State License Board (CSLB), SB 607 Bond Requirement Update, 2023", "market_size_or_density_note": "According to IBISWorld data, California's electrician industry comprises 32,692 establishment locations employing 142,957 workers. BLS OEWS estimates 72,880 occupational electricians (SOC 47-2111) employed statewide.", "market_source": "IBISWorld, Electricians in California Industry Report, 2026, https://www.ibisworld.com/united-states/market-research-reports/ and BLS OEWS, May 2023, https://www.bls.gov/oes/current/oes_ca.htm", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 37.25 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "url", "bonding_source_access": "citation-text-only", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "Colorado", "where": "CO", "median_hourly_wage_usd": 29.25, "wage_differential_vs_national_pct": -1.83, "median_wage_source": "U.S. Bureau of Labor Statistics, May 2023 State Occupational Employment and Wage Estimates - Colorado & National (SOC 47-2111 Electricians), 2024, https://www.bls.gov/oes/current/oes_co.htm and https://www.bls.gov/oes/current/oes472111.htm", "license_regime": "State-level licensing is required in Colorado, governed by the Colorado State Electrical Board within the Division of Professions and Occupations (DORA). License tiers comprise Apprentice Electrician, Residential Wireman (4,000 hours experience), Journeyman Electrician (8,000 hours experience plus classroom hours), Master Electrician (additional experience beyond journeyman), and Electrical Contractor registration (requires a licensed Master Electrician as qualifier).", "license_source": "Colorado Department of Regulatory Agencies (DORA), State Electrical Board, 2024, https://dpo.colorado.gov/Electrical", "bonding_requirement": "No statewide surety bond is required by the State Electrical Board for individual license holders or contractor registration. Electrical contractors must carry statutory workers' compensation coverage (if employing staff) and general liability insurance. Specific surety bond amounts and higher liability insurance limits are imposed by local municipalities (such as Denver or Boulder) at the municipal permit/licensing level.", "bonding_source": "Colorado Department of Regulatory Agencies (DORA), State Electrical Board, 2024, https://dpo.colorado.gov/Electrical", "market_size_or_density_note": "According to the MEP Alliance Colorado Construction Industry Economic Impact Report analyzing BLS Quarterly Census of Employment and Wages (QCEW) data, electrical and other wiring contractor establishments (NAICS 238210) in Colorado grew to over 1,200 private establishments as part of 15,053 specialty trade contractor establishments statewide.", "market_source": "MEP Alliance (NECA, RMMCA, SMACNA Colorado), Construction Industry Economic Impact Study (citing BLS QCEW data), 2024, https://smacnacolorado.org", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 29.25 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "url", "bonding_source_access": "url", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "Connecticut", "where": "CT", "median_hourly_wage_usd": 33.18, "wage_differential_vs_national_pct": 11.36, "median_wage_source": "U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/2023/may/oes_ct.htm", "license_regime": "Statewide licensing is required in Connecticut and administered by the Department of Consumer Protection (DCP) Electrical Work Examining Board under C.G.S. Chapter 393. Primary license tiers include unlimited classifications such as E-1 (Unlimited Electrical Contractor) and E-2 (Unlimited Electrical Journeyperson), along with limited specialty license classifications (such as C-5/C-6 for low voltage/alarm systems and T-1/T-2 for telecommunications).", "license_source": "Connecticut Department of Consumer Protection (DCP), 2024", "bonding_requirement": "Licensed contractors are required to carry liability insurance. For contractors registered under Home Improvement Contractor rules, Connecticut mandates a $15,000 surety bond and minimum liability insurance of $20,000. Workers' compensation coverage is required for any business with one or more employees.", "bonding_source": "Connecticut Department of Consumer Protection (DCP), 2024, https://portal.ct.gov/dcp", "market_size_or_density_note": "Connecticut employed 7,230 electricians (SOC 47-2111) in May 2023, with an employment location quotient of 0.93 compared to the national employment density.", "market_source": "U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/2023/may/oes_ct.htm", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 33.18 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "citation-text-only", "bonding_source_access": "url", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "Delaware", "where": "DE", "median_hourly_wage_usd": 29.32, "wage_differential_vs_national_pct": -1.59, "median_wage_source": "U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/current/oes_de.htm and https://www.bls.gov/oes/current/oes472111.htm", "license_regime": "State-level licensure is required in Delaware and administered statewide by the Delaware Board of Electrical Examiners under the Division of Professional Regulation. License tiers include Master Electrician, Master Special Electrician, Limited Electrician, Limited Special Electrician, Journeyperson Electrician, Residential Electrician, and Apprentice Electrician.", "license_source": "Delaware Board of Electrical Examiners, Division of Professional Regulation, 2024", "bonding_requirement": "No state-level surety bond is required by the Board. Licensees (excluding journeyperson, residential, and apprentice electricians operating strictly as employees) are required to maintain a minimum of $300,000 in general liability insurance.", "bonding_source": "Delaware Administrative Code Title 24 Section 1400 (Board of Electrical Examiners Regulations, Section 6.0), 2024, https://regulations.delaware.gov/AdminCode/title24/1400%20Board%20of%20Electrical%20Examiners.shtml", "market_size_or_density_note": "In Delaware, the Electricians industry comprises 874 businesses and 4,279 total industry employees as of 2026, with 2,420 active workers in SOC 47-2111 (Electricians).", "market_source": "IBISWorld, Electricians in Delaware Industry Report, 2026, https://www.ibisworld.com/united-states/market-research-reports", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 29.32 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "citation-text-only", "bonding_source_access": "url", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "Florida", "where": "FL", "median_hourly_wage_usd": 24.1, "wage_differential_vs_national_pct": -19.11, "median_wage_source": "U.S. Bureau of Labor Statistics (BLS) OEWS, May 2023 State Occupational Employment and Wage Estimates - Florida, https://www.bls.gov/oes/current/oes_fl.htm", "license_regime": "State-level contractor licensing is required in Florida, administered by the Electrical Contractors' Licensing Board (ECLB) under the Department of Business and Professional Regulation (DBPR) per Florida Statutes Chapter 489. License tiers include Certified Electrical Contractor (EC, statewide authorization) and Registered Electrical Contractor (ER, restricted to local/county jurisdictions where local competency cards are held), as well as specialty classifications (such as Alarm System, Low Voltage, Utility Line, and Residential). Individual journeyman and master electrician licenses are issued locally by specific counties and municipalities rather than statewide.", "license_source": "Florida Department of Business and Professional Regulation (DBPR) - Electrical Contractors' Licensing Board, 2024, https://www.myfloridalicense.com/DBPR/electrical-contractors", "bonding_requirement": "Certified Electrical Contractors must carry General Liability insurance of at least $300,000 per occurrence for bodily injury and $500,000 for property damage (or $800,000 combined single limit) and Workers' Compensation coverage (or state-approved exemption). Applicants with a FICO credit score below 660 must post a financial stability bond or irrevocable letter of credit ($10,000 to $20,000 depending on contractor category, 50% reducible upon completion of a 14-hour financial responsibility course).", "bonding_source": "Florida Department of Business and Professional Regulation (DBPR) - Electrical Contractors' Licensing Board, Florida Administrative Code Rule 61G4-15.006, 2024, https://www.myfloridalicense.com/DBPR/electrical-contractors", "market_size_or_density_note": "Florida employed 46,690 electricians (SOC 47-2111) as of May 2023, representing an employment density of 4.88 electricians per 1,000 jobs (Location Quotient of 1.04). State projections estimate employment growing from 46,450 in 2022 to 54,510 by 2032 (a 17% growth rate) with approximately 5,200 annual job openings.", "market_source": "U.S. Bureau of Labor Statistics (BLS) OEWS, May 2023 State Occupational Employment and Wage Estimates - Florida, https://www.bls.gov/oes/current/oes_fl.htm", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 24.1 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "url", "bonding_source_access": "url", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "Georgia", "where": "GA", "median_hourly_wage_usd": 26.59, "wage_differential_vs_national_pct": -10.76, "median_wage_source": "U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/current/oes_ga.htm", "license_regime": "State-level licensing is required for electrical contractors in Georgia through the Construction Industry Licensing Board, Division of Electrical Contractors (O.C.G.A. Title 43 Chapter 14). Individual journeymen and apprentices work under a licensed contractor rather than holding separate state licenses. Licensing exists in two tiers: Class I (Restricted - single-phase installations up to 200 amperes) and Class II (Unrestricted - authorizing all residential, commercial, and industrial electrical work without amperage limits).", "license_source": "Georgia Construction Industry Licensing Board, Division of Electrical Contractors, 2024, https://sos.ga.gov/georgia-construction-industry-licensing-board", "bonding_requirement": "Georgia does not mandate a statewide contractor license surety bond for state-level electrical contractor licensure. However, the board requires Class II electrical contractors to carry general liability insurance with a minimum coverage of $500,000 per occurrence, and workers' compensation insurance is required for businesses with 3 or more employees. Local municipalities or public works contracts may require separate local bonds.", "bonding_source": "Georgia Construction Industry Licensing Board, Division of Electrical Contractors, 2024, https://sos.ga.gov/georgia-construction-industry-licensing-board", "market_size_or_density_note": "As of May 2023, Georgia has 21,010 employed electricians (SOC 47-2111), representing a density of 4.415 electricians per 1,000 jobs in the state and a location quotient of 0.94 compared to national concentration.", "market_source": "U.S. Bureau of Labor Statistics (BLS) OEWS, May 2023, https://www.bls.gov/oes/current/oes_ga.htm", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 26.59 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "url", "bonding_source_access": "url", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "Hawaii", "where": "HI", "median_hourly_wage_usd": 42.44, "wage_differential_vs_national_pct": 42.44, "median_wage_source": "U.S. Bureau of Labor Statistics (BLS) OEWS, May 2023 State Occupational Employment and Wage Estimates - Hawaii, 2024, https://www.bls.gov/oes/current/oes_hi.htm", "license_regime": "State-level licensing is required in Hawaii (local/county licenses do not substitute for state licensing). The Hawaii Department of Commerce and Consumer Affairs (DCCA) regulates the trade through two divisions: individual electrician licenses are issued by the Board of Electricians and Mechanics under HRS Chapter 448E across several tiers (Journey Worker Electrician [EJ], Supervising Electrician [ES], Journey Worker/Supervising Industrial Electrician, Specialty Electrician, and Maintenance Electrician); contracting business entities must obtain a C-13 Electrical Contractor license from the Contractors License Board under HRS Chapter 444 and employ a licensed Supervising Electrician as Responsible Managing Employee (RME).", "license_source": "Hawaii Department of Commerce and Consumer Affairs (DCCA) Professional and Vocational Licensing Division, 2024, https://cca.hawaii.gov/pvl/boards/contractor", "bonding_requirement": "Pursuant to HRS § 444-16.5, the Contractors License Board sets surety bond requirements on a case-by-case basis with a statutory minimum of $5,000. In addition, HRS § 444-11.1 requires contractors to maintain liability insurance with statutory minimums of $100,000 per person and $300,000 per occurrence for bodily injury, and $50,000 per occurrence for property damage, along with mandatory workers' compensation insurance.", "bonding_source": "Hawaii Department of Commerce and Consumer Affairs (DCCA) / Hawaii Revised Statutes Chapter 444, 2024, https://www.capitol.hawaii.gov/hrscurrent/Vol10_Ch0436-0471/HRS0444/HRS_0444-0016_0005.htm", "market_size_or_density_note": "According to May 2023 BLS OEWS data, Hawaii has an estimated 3,300 employed electricians (SOC 47-2111) with a location quotient of 1.14 relative to the U.S. national baseline concentration.", "market_source": "U.S. Bureau of Labor Statistics (BLS) OEWS, May 2023 State Occupational Employment and Wage Estimates - Hawaii, 2024, https://www.bls.gov/oes/current/oes_hi.htm", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 42.44 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "url", "bonding_source_access": "url", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "Idaho", "where": "ID", "median_hourly_wage_usd": 29.17, "wage_differential_vs_national_pct": -2.1, "median_wage_source": "U.S. Bureau of Labor Statistics OEWS / Idaho Department of Labor, May 2024, https://www.bls.gov/oes/current/oes472111.htm", "license_regime": "State-level licensing is required in Idaho for electrical work and is administered by the Idaho Electrical Board within the Division of Occupational and Professional Licenses (DOPL). Individual and business license tiers include Electrical Apprentice, Provisional Journeyman, Journeyman Electrician, Master Electrician, and Electrical Contractor (as well as limited installer and limited contractor categories).", "license_source": "Idaho Division of Occupational and Professional Licenses (DOPL) - Idaho Electrical Board, 2024, https://dopl.idaho.gov", "bonding_requirement": "Electrical Contractors must provide proof of $300,000 in general liability insurance and workers' compensation insurance (unless exempted). A statewide surety bond is not required for standard electrical contractor licensing.", "bonding_source": "Idaho Code Title 54 Chapter 10 / DOPL Electrical Contractor Application, 2024, https://dopl.idaho.gov", "market_size_or_density_note": "Idaho employs approximately 5,380 electricians (BLS SOC 47-2111), representing an employment density of roughly 6.37 electricians per 1,000 jobs, which is above the national average trade density (location quotient > 1.30).", "market_source": "U.S. Bureau of Labor Statistics OEWS / Idaho Department of Labor, May 2024, https://www.bls.gov/oes", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 29.17 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "url", "bonding_source_access": "url", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "Illinois", "where": "IL", "median_hourly_wage_usd": 45.72, "wage_differential_vs_national_pct": 53.45, "median_wage_source": "U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2023 State Estimates for Illinois (https://www.bls.gov/oes/2023/may/oes_il.htm) and National Estimates (https://www.bls.gov/oes/2023/may/oes472111.htm)", "license_regime": "Illinois does not issue or require a statewide electrician or electrical contractor license. Electrician licensing is decentralized and governed by individual municipalities and counties under home-rule authority (for example, the City of Chicago Department of Buildings requires local Supervising Electrician licensure and Electrical Contractor registration).", "license_source": "City of Chicago Department of Buildings, Electrical Contractor Licensing, 2024", "bonding_requirement": "Surety bond and liability insurance minimums are established at the local municipal or county level rather than a single state electrical board (for example, Chicago requires liability insurance and local registration; county-level unified license and permit bonds in Illinois range from $25,000 to $50,000 under 55 ILCS 5/5-1035.1).", "bonding_source": "Illinois General Assembly, Illinois Compiled Statutes (55 ILCS 5/5-1035.1 Unified License and Permit Bond), 2024, https://www.ilga.gov/legislation/ilcs/documents/005500050K5-1035.1.htm", "market_size_or_density_note": "Illinois had 21,890 employed electricians (SOC 47-2111) as of May 2023, representing a worker density of 3.641 electricians per 1,000 total jobs in the state and a location quotient of 0.78.", "market_source": "U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2023 State Occupational Employment and Wage Estimates for Illinois, 2024, https://www.bls.gov/oes/2023/may/oes_il.htm", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 45.72 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "citation-text-only", "bonding_source_access": "url", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "Indiana", "where": "IN", "median_hourly_wage_usd": 32.91, "wage_differential_vs_national_pct": 10.45, "median_wage_source": "U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/2023/may/oes_in.htm", "license_regime": "Indiana does not mandate or issue a statewide license for electricians or electrical contractors. Licensing is managed strictly at the local municipality or county level (e.g., Indianapolis, Fort Wayne, Evansville, Lafayette), where local building departments set testing, experience, and trade tiers (such as Journeyman and Master Electrician).", "license_source": "Indiana Professional Licensing Agency (IPLA) / City of Indianapolis Department of Business and Neighborhood Services, 2024, https://www.in.gov/pla", "bonding_requirement": "Statewide bonding is not required for general electrical contractors; requirements are established locally by individual cities and counties (e.g., the City of Indianapolis mandates a $10,000 surety bond for licensed electrical contractors). Additionally, Indiana Code IC 4-13.6-7 requires performance and payment bonds on state public works construction contracts exceeding $200,000.", "bonding_source": "Indiana General Assembly (IC 4-13.6-7) / City of Indianapolis Code, 2024, https://iga.in.gov", "market_size_or_density_note": "Indiana employs approximately 15,650 electricians (SOC 47-2111), with a concentration of 4.958 electricians per 1,000 jobs and a location quotient of 1.06 relative to national average trade density.", "market_source": "U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/2023/may/oes_in.htm", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 32.91 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "url", "bonding_source_access": "url", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "Iowa", "where": "IA", "median_hourly_wage_usd": 30.61, "wage_differential_vs_national_pct": 2.74, "median_wage_source": "U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/current/oes_ia.htm", "license_regime": "A state-level license is required in Iowa under Iowa Code Chapter 103, administered by the Iowa Electrical Examining Board within the Department of Inspections, Appeals, and Licensing (DIAL). License tiers include Apprentice Electrician / Unclassified Person, Special Electrician, Residential Electrician, Class A Journeyman, Class B Journeyman, Residential Master Electrician, Class A Master, Class B Master, Residential Electrical Contractor, and Electrical Contractor.", "license_source": "Iowa Electrical Examining Board, Department of Inspections, Appeals, and Licensing (DIAL), 2024, https://dial.iowa.gov", "bonding_requirement": "Electrical contractors in Iowa must maintain at least $1,000,000 in general public liability insurance (IAC 661-502.7). In-state contractors are not required to hold a state surety bond for licensure, though out-of-state contractors registering with DIAL must post a $25,000 surety bond.", "bonding_source": "Iowa Administrative Code 661-502.7 / Iowa Department of Inspections, Appeals, and Licensing (DIAL), 2024, https://www.legis.iowa.gov", "market_size_or_density_note": "Iowa employs 7,450 electricians (SOC 47-2111), representing a density of 4.825 electricians per 1,000 jobs and a location quotient of 1.03 (3% above national average concentration).", "market_source": "U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/current/oes_ia.htm", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 30.61 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "url", "bonding_source_access": "url", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "Kansas", "where": "KS", "median_hourly_wage_usd": 28.79, "wage_differential_vs_national_pct": -3.37, "median_wage_source": "U.S. Bureau of Labor Statistics (BLS), 2023 May OEWS State Occupational Employment and Wage Estimates - Kansas, https://www.bls.gov/oes/current/oes_ks.htm", "license_regime": "Kansas does not issue electrical trade licenses at the state level. Electrical licensing is decentralized and administered at the city and county level under K.S.A. 12-1525 et seq. Municipalities typically issue licenses across tiers including Master Electrician, Journeyman Electrician, Residential Electrician, and Electrical Contractor, with standard examination scores recognized statewide for competency.", "license_source": "Kansas Legislature, 2024 Kansas Statutes Annotated (K.S.A. 12-1525 through 12-1527), https://kslegislature.org", "bonding_requirement": "There are no statewide surety bond or general liability insurance minimums set by a state licensing board; insurance and bonding requirements are set at the local municipal/county level (for example, jurisdictions such as Sedgwick County/MABCD require $300,000 in general liability insurance).", "bonding_source": "Kansas Contractor Authority, 2024", "market_size_or_density_note": "As of May 2023, Kansas had 5,820 employed electricians (SOC 47-2111), corresponding to a concentration of 4.122 electricians per 1,000 total jobs in the state.", "market_source": "U.S. Bureau of Labor Statistics (BLS), 2023 May OEWS State Occupational Employment and Wage Estimates - Kansas, https://www.bls.gov/oes/current/oes_ks.htm", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 28.79 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "url", "bonding_source_access": "citation-text-only", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "Kentucky", "where": "KY", "median_hourly_wage_usd": 27.47, "wage_differential_vs_national_pct": -7.8, "median_wage_source": "BLS OEWS, 2023, https://www.bls.gov/oes/current/oes_ky.htm", "license_regime": "State-level licensing is required in Kentucky administered by the Department of Housing, Buildings and Construction (DHBC) under KRS Chapter 227A. License tiers include Electrician (EE / Journeyman), Master Electrician (ME), and Electrical Contractor (CE).", "license_source": "Kentucky Department of Housing, Buildings and Construction, 2024, https://dhbc.ky.gov", "bonding_requirement": "Kentucky does not require a statewide surety bond for electrical licensure; however, Electrical Contractors (CE) must carry a minimum of $500,000 in general liability insurance and maintain workers' compensation insurance if employing staff.", "bonding_source": "Kentucky Revised Statutes (KRS 227A.060), 2024, https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=43781", "market_size_or_density_note": "Kentucky employed 9,620 electricians with an employment density of 4.901 per 1,000 jobs and a location quotient of 1.04.", "market_source": "BLS OEWS, 2023, https://www.bls.gov/oes/current/oes_ky.htm", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 27.47 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "url", "bonding_source_access": "url", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "Louisiana", "where": "LA", "median_hourly_wage_usd": 28.49, "wage_differential_vs_national_pct": -4.38, "median_wage_source": "U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/current/oes_la.htm", "license_regime": "Louisiana does not license individual journeymen or master electricians at the state level, delegating individual trade licensing to local/parish authorities (such as the City of New Orleans). However, the Louisiana State Licensing Board for Contractors (LSLBC) requires a state-level Electrical Contractor license for any electrical project with total contract costs (labor and materials) exceeding $10,000.", "license_source": "Louisiana State Licensing Board for Contractors (LSLBC), 2024, https://lslbc.louisiana.gov/for-contractors", "bonding_requirement": "LSLBC contractor applicants must demonstrate a minimum net worth of $10,000; if net worth requirements are not met, a $10,000 surety bond or letter of credit must be posted. License holders performing residential work must carry Commercial General Liability insurance with at least $100,000 in coverage and maintain active Workers' Compensation insurance.", "bonding_source": "Louisiana State Licensing Board for Contractors (LSLBC), 2024, https://lslbc.louisiana.gov", "market_size_or_density_note": "As of May 2023, Louisiana employs approximately 11,100 electricians (SOC 47-2111), with a location quotient of 1.28, indicating a 28% higher concentration of electrician jobs relative to the national average.", "market_source": "U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/current/oes_la.htm", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 28.49 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "url", "bonding_source_access": "url", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "Maine", "where": "ME", "median_hourly_wage_usd": 29.79, "wage_differential_vs_national_pct": -0.02, "median_wage_source": "U.S. Bureau of Labor Statistics (BLS), May 2023 OEWS State and National Estimates for SOC 47-2111 Electricians, published April 2024, https://www.bls.gov/oes/current/oes_me.htm and https://www.bls.gov/oes/current/oes472111.htm", "license_regime": "State-level licensing is required in Maine, administered by the Electricians' Examining Board under the Office of Professional and Occupational Regulation (OPOR). License tiers include Master Electrician, Journeyman Electrician, Limited Electrician (in specialty categories such as house wiring or water pumps), Journeyman-in-Training Electrician, Apprentice Electrician, and Helper Electrician.", "license_source": "Maine Electricians' Examining Board, Office of Professional and Occupational Regulation (OPOR), Department of Professional and Financial Regulation, 2024, https://www.maine.gov/pfr/professionallicensing/professions/electricians", "bonding_requirement": "The Maine Electricians' Examining Board does not require a state-level surety bond or general liability insurance as a prerequisite for individual electrician licensing. However, Maine law requires workers' compensation insurance for any business with employees, and individual municipalities or project owners may require general liability insurance or surety bonds locally.", "bonding_source": "Maine Office of Professional and Occupational Regulation (OPOR), Electricians' Examining Board, 2024, https://www.maine.gov/pfr/professionallicensing/professions/electricians", "market_size_or_density_note": "Maine had 3,380 employed electricians (SOC 47-2111) as of May 2023, representing an employment density (location quotient) of 1.16, which is 16% higher than the national average rate of electrician employment relative to total state employment (5.44 electricians per 1,000 jobs).", "market_source": "U.S. Bureau of Labor Statistics (BLS), May 2023 State Occupational Employment and Wage Estimates - Maine, published April 2024, https://www.bls.gov/oes/current/oes_me.htm", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 29.79 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "url", "bonding_source_access": "url", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "Maryland", "where": "MD", "median_hourly_wage_usd": 30.3, "wage_differential_vs_national_pct": 1.69, "median_wage_source": "U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/2023/may/oes_md.htm", "license_regime": "Statewide licensing is required. The Maryland State Board of Electricians (under the Maryland Department of Labor Division of Occupational and Professional Licensing) issues statewide licenses. Tiers include Apprentice Electrician, Journeyperson Electrician, and Master Electrician. Local jurisdictions retain authority to require local permits, inspections, and local registrations.", "license_source": "Maryland Department of Labor, State Board of Electricians, 2023, https://www.dllr.state.md.us/license/elec", "bonding_requirement": "Active Master Electricians must maintain a minimum of $300,000 in general liability insurance and $100,000 in property damage insurance. Under Maryland Code § 6-604(h), proof of this required insurance satisfies local jurisdiction surety bond requirements.", "bonding_source": "Maryland General Assembly, Maryland Code Ann., Business Occupations and Professions § 6-604, 2023, https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gbp§ion=6-604", "market_size_or_density_note": "Maryland employed 12,930 electricians (SOC 47-2111) in May 2023, representing an occupational density of 4.827 per 1,000 jobs and a location quotient of 1.03 relative to the national average.", "market_source": "U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/2023/may/oes_md.htm", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 30.3 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "url", "bonding_source_access": "url", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "Massachusetts", "where": "MA", "median_hourly_wage_usd": 39.02, "wage_differential_vs_national_pct": 30.96, "median_wage_source": "U.S. Bureau of Labor Statistics, May 2023 State Occupational Employment and Wage Estimates (Massachusetts) and May 2023 National Occupational Employment and Wage Estimates, 2024, https://www.bls.gov/oes/current/oes_ma.htm", "license_regime": "A state-level license is required in Massachusetts and enforced by the Board of State Examiners of Electricians. Cities and towns cannot override state licensing authority. Main license tiers include Master Electrician (Certificate A), Journeyman Electrician (Certificate B), Systems Contractor (Certificate D), Systems Technician (Certificate C), and Registered Apprentice.", "license_source": "Massachusetts Board of State Examiners of Electricians, Commonwealth of Massachusetts, M.G.L. c. 141 and 237 CMR 13.00, 2024, https://www.mass.gov/orgs/board-of-state-examiners-of-electricians", "bonding_requirement": "Massachusetts does not require a general surety bond or liability insurance to hold individual Master or Journeyman licenses. However, Limited Liability Companies (LLCs) and Limited Liability Partnerships (LLPs) engaging in electrical work must maintain professional liability insurance of at least $50,000 per licensee officer/employee per claim, or an aggregate amount of $150,000 multiplied by the number of licensed officers/employees.", "bonding_source": "Massachusetts Board of State Examiners of Electricians, 237 CMR 23.01 (Liability Insurance Requirements for LLCs and LLPs), 2024", "market_size_or_density_note": "Massachusetts employed 19,140 electricians (SOC 47-2111) with a location quotient of 1.12, indicating worker concentration in the state is approximately 12% higher than the national average.", "market_source": "U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) - Massachusetts, May 2023, 2024, https://www.bls.gov/oes/current/oes_ma.htm", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 39.02 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "url", "bonding_source_access": "citation-text-only", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "Michigan", "where": "MI", "median_hourly_wage_usd": 30.28, "wage_differential_vs_national_pct": 1.63, "median_wage_source": "U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/2023/may/oes_mi.htm and https://www.bls.gov/oes/2023/may/oes472111.htm", "license_regime": "State-level licensing is required in Michigan under the Skilled Trades Regulation Act (2016 PA 407), administered by the Michigan Department of Licensing and Regulatory Affairs (LARA) Bureau of Construction Codes. Licensing tiers comprise Apprentice Electrician registration, Electrical Journeyman, Master Electrician, and Electrical Contractor (business entity).", "license_source": "Michigan Department of Licensing and Regulatory Affairs (LARA) Bureau of Construction Codes, 2024, https://www.michigan.gov/lara/bureau-list/bcc and Michigan Skilled Trades Regulation Act (2016 PA 407), MCL 339.5701 et seq., https://legislature.mi.gov/doc.aspx?mcl-Act-407-of-2016", "bonding_requirement": "State law does not mandate a statewide surety bond for electrical contractor licensing, though local municipalities (e.g., Detroit, Oakland County) may require local contractor bonds ranging from $1,000 to $25,000. Electrical contractors must maintain general liability insurance to obtain permits/licensure through LARA, as well as workers' compensation coverage for employers with 3+ employees or 1 employee working 35+ hours/week.", "bonding_source": "Michigan Department of Licensing and Regulatory Affairs (LARA) / Skilled Trades Regulation Act (2016 PA 407), MCL 339.5711, 2024, https://legislature.mi.gov/doc.aspx?mcl-Act-407-of-2016 and Michigan Workers' Disability Compensation Act (1969 PA 317), https://www.michigan.gov/leo/bureaus-agencies/wdca", "market_size_or_density_note": "Michigan employs 24,240 electricians (SOC 47-2111), with a worker density of 5.576 electricians per 1,000 jobs in the state and a location quotient of 1.19 relative to the U.S. national baseline.", "market_source": "U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/2023/may/oes_mi.htm", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 30.28 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "url", "bonding_source_access": "url", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "Minnesota", "where": "MN", "median_hourly_wage_usd": 37.52, "wage_differential_vs_national_pct": 25.93, "median_wage_source": "U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS), 2023, https://www.bls.gov/oes/2023/may/oes_mn.htm", "license_regime": "Statewide licensing is required by the Minnesota Department of Labor and Industry (DLI). Individual credentials include Registered Unlicensed Electrician, Class A Journeyman Electrician, and Class A Master Electrician. Electrical contracting businesses must hold an Electrical Contractor license and designate a Class A Master Electrician as the Responsible Licensed Individual (RLI).", "license_source": "Minnesota Department of Labor and Industry (DLI), 2024", "bonding_requirement": "Electrical contractors must maintain a $25,000 surety bond (Minn. Stat. § 326B.33 Subd. 15) and public liability insurance with minimum limits of $100,000 per occurrence, $300,000 aggregate, and $50,000 property damage, plus workers' compensation insurance.", "bonding_source": "Minnesota Department of Labor and Industry (DLI), 2024", "market_size_or_density_note": "As of May 2023, Minnesota employed 11,280 electricians (SOC 47-2111), representing approximately 3.915 jobs per 1,000 statewide total employment and a location quotient of 0.83.", "market_source": "U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS), 2023, https://www.bls.gov/oes/2023/may/oes_mn.htm", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 37.52 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "citation-text-only", "bonding_source_access": "citation-text-only", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "Mississippi", "where": "MS", "median_hourly_wage_usd": 28.16, "wage_differential_vs_national_pct": -5.49, "median_wage_source": "U.S. Bureau of Labor Statistics, May 2023 OEWS, https://www.bls.gov/oes/current/oes_ms.htm and https://www.bls.gov/oes/current/oes472111.htm", "license_regime": "Mississippi uses a hybrid licensing system. At the state level, the Mississippi State Board of Contractors (MSBOC) regulates electrical contractor licenses (Certificates of Responsibility) for commercial projects valued at $50,000 or more, residential remodeling at $10,000 or more, or new residential construction at $50,000 or more. Individual trade licensing (journeyman and master electrician) for work below these state thresholds is administered at the local city and county level.", "license_source": "Mississippi State Board of Contractors (MSBOC), 2024, https://www.msboc.us", "bonding_requirement": "Commercial electrical contractors licensed by MSBOC must maintain general liability insurance of at least $300,000 per occurrence and $600,000 aggregate, with MSBOC listed as a certificate holder. Residential contractors must carry general liability insurance (no state minimum amount set). Project-specific surety bonds may be required based on contract value or public works requirements.", "bonding_source": "Mississippi State Board of Contractors (MSBOC), 2024, https://www.msboc.us", "market_size_or_density_note": "Mississippi employs 5,040 electricians (BLS SOC 47-2111), representing a density of 4.386 electricians per 1,000 jobs statewide.", "market_source": "U.S. Bureau of Labor Statistics, May 2023 OEWS State Estimates - Mississippi, https://www.bls.gov/oes/current/oes_ms.htm", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 28.16 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "url", "bonding_source_access": "url", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "Missouri", "where": "MO", "median_hourly_wage_usd": 30.11, "wage_differential_vs_national_pct": 1.06, "median_wage_source": "U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/2023/may/oes_mo.htm", "license_regime": "Missouri operates primarily under local city/county jurisdiction ('home rule') for individual trade licensing (Apprentice, Journeyman, Master Electrician). The state offers an optional statewide Electrical Contractor license issued by the Office of Statewide Electrical Contractors for contractors working across multiple jurisdictions.", "license_source": "Missouri Division of Professional Registration, Office of Statewide Electrical Contractors, 2023, https://pr.mo.gov/electricalcontractors.asp", "bonding_requirement": "Statewide Electrical Contractor license holders must maintain a minimum of $500,000 in general liability insurance and post any local surety bonds required by the specific political subdivisions (cities/counties) where work is performed.", "bonding_source": "Missouri Revised Statutes (RSMo Section 324.920), 2023, https://revisor.mo.gov/main/OneSection.aspx?section=324.920", "market_size_or_density_note": "Missouri employs approximately 12,390 electricians (SOC 47-2111), representing a employment density of 4.309 per 1,000 jobs and a location quotient of 0.92 compared to the national average.", "market_source": "U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/2023/may/oes_mo.htm", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 30.11 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "url", "bonding_source_access": "url", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "Montana", "where": "MT", "median_hourly_wage_usd": 31.05, "wage_differential_vs_national_pct": 4.21, "median_wage_source": "U.S. Bureau of Labor Statistics (BLS) OEWS, May 2023, https://www.bls.gov/oes/2023/may/oes_mt.htm", "license_regime": "Statewide license required. Administered at the state level by the Montana State Electrical Board under the Department of Labor and Industry. Credential tiers include Residential Electrician, Journeyman Electrician, Master Electrician, Limited Electrical Contractor (limited to residential construction of 5 or fewer units), and Unlimited Electrical Contractor (requires a full-time licensed Master Electrician).", "license_source": "Montana State Electrical Board, Department of Labor and Industry, 2024", "bonding_requirement": "No statewide surety bond is required by the State Electrical Board for licensing. However, electrical contractors must demonstrate proof of compliance with Montana Workers' Compensation Act and Unemployment Insurance Law (or hold a valid Independent Contractor Exemption Certificate). Municipalities or public works projects may impose local bonding or liability requirements.", "bonding_source": "Montana Department of Labor and Industry, State Electrical Board, 2024", "market_size_or_density_note": "Montana employs approximately 2,890 electricians (SOC 47-2111), corresponding to an employment density of 5.766 per 1,000 total jobs and a location quotient of 1.23 compared to the US national average.", "market_source": "U.S. Bureau of Labor Statistics (BLS) OEWS, May 2023, https://www.bls.gov/oes/2023/may/oes_mt.htm", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 31.05 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "citation-text-only", "bonding_source_access": "citation-text-only", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "Nebraska", "where": "NE", "median_hourly_wage_usd": 28.68, "wage_differential_vs_national_pct": -3.74, "median_wage_source": "U.S. Bureau of Labor Statistics, May 2023 State Occupational Employment and Wage Estimates - Nebraska (SOC 47-2111 Electricians), published April 2024, https://www.bls.gov/oes/current/oes_ne.htm", "license_regime": "State-level licensing is required for electrical work in Nebraska, administered by the Nebraska State Electrical Division under the Nebraska State Electrical Act. State license tiers include Electrical Contractor, Journeyman Electrician, Residential Journeyman Electrician, Fire Alarm Installer, and Apprentice Electrician (registration required).", "license_source": "Nebraska State Electrical Division / Nebraska State Electrical Act, 2024, https://electrical.nebraska.gov", "bonding_requirement": "To obtain and hold an Electrical Contractor license, applicants must present proof of general liability insurance with minimum coverage limits of $100,000 for each employee, $300,000 for each accident, and $100,000 for property damage. State surety bonds are not generally mandated at the state board level for electricians, though local municipalities or specific public contracts may require separate surety bonding.", "bonding_source": "Nebraska State Electrical Board Rules & Regulations / Nebraska State Electrical Act, 2024, https://electrical.nebraska.gov", "market_size_or_density_note": "According to BLS OEWS data, Nebraska had an estimated total employment of 6,160 electricians (SOC 47-2111) in May 2023, representing approximately 6.15 electricians per 1,000 jobs and a location quotient of 1.31 relative to national concentration.", "market_source": "U.S. Bureau of Labor Statistics, May 2023 OEWS State Occupational Employment and Wage Estimates - Nebraska, published April 2024, https://www.bls.gov/oes/current/oes_ne.htm", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 28.68 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "url", "bonding_source_access": "url", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "Nevada", "where": "NV", "median_hourly_wage_usd": 29.07, "wage_differential_vs_national_pct": -2.43, "median_wage_source": "U.S. Bureau of Labor Statistics (BLS) OEWS, May 2023 (State: https://www.bls.gov/oes/current/oes_nv.htm ; National: https://www.bls.gov/oes/current/oes472111.htm)", "license_regime": "In Nevada, a state-level contractor license is required for electrical contracting work, issued by the Nevada State Contractors Board (NSCB) under Classification C-2 Electrical Contracting. Subclassifications include C-2a (Electrical Wiring), C-2b (Integrated Ceilings), C-2c (Fire Detection), C-2d (Low Voltage Systems), C-2e (Lines to Transmit Electricity), C-2f (Residential Wiring), and C-2g (Photovoltaics). While local jurisdictions (counties and cities like Reno or Clark County) may issue journeyman certificates or master electrician cards, contractor licensing for trade operations is mandated statewide by the NSCB.", "license_source": "Nevada State Contractors Board (NSCB), 2024", "bonding_requirement": "The Nevada State Contractors Board requires contractors to post a cash deposit or surety bond ranging from $1,000 to $500,000 based on the license classification, requested monetary limit, financial responsibility, experience, and character of the applicant. Active licensees are also required to maintain industrial insurance / workers' compensation coverage.", "bonding_source": "Nevada State Contractors Board (NSCB), 2024", "market_size_or_density_note": "According to BLS OEWS May 2023 data, Nevada has 8,370 employed electricians (SOC 47-2111) with an employment density of 5.652 per 1,000 jobs, corresponding to a location quotient of 1.20 relative to the national average.", "market_source": "U.S. Bureau of Labor Statistics (BLS) OEWS, May 2023 State Occupational Employment and Wage Estimates - Nevada, https://www.bls.gov/oes/current/oes_nv.htm", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 29.07 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "citation-text-only", "bonding_source_access": "citation-text-only", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "New Hampshire", "where": "NH", "median_hourly_wage_usd": 29.22, "wage_differential_vs_national_pct": -1.93, "median_wage_source": "U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics, 2023, https://www.bls.gov/oes/current/oes_nh.htm", "license_regime": "A state-level license is required in New Hampshire to perform electrical work operating at 30 volts or higher, governed by the Electricians' Board under the Office of Professional Licensure and Certification (OPLC) pursuant to RSA 319-C. Municipalities do not issue separate trade licenses. License tiers consist of Apprentice Electrician (registration), Journeyman Electrician, Master Electrician, and High/Medium Voltage Electrician.", "license_source": "New Hampshire Office of Professional Licensure and Certification (OPLC) Electricians' Board, 2024", "bonding_requirement": "New Hampshire does not mandate a statewide surety bond to obtain an electrician license. However, general liability insurance is required by the OPLC to hold an active license and pull permits, and workers' compensation coverage is mandatory under RSA 281-A for any business with one or more employees.", "bonding_source": "New Hampshire Office of Professional Licensure and Certification (OPLC) & New Hampshire RSA 319-C / RSA 281-A, 2024", "market_size_or_density_note": "New Hampshire employs an estimated 3,450 electricians (SOC 47-2111) with a location quotient of 1.09, representing an electrician employment density approximately 9% above the U.S. national average.", "market_source": "U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics, 2023, https://www.bls.gov/oes/current/oes_nh.htm", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 29.22 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "citation-text-only", "bonding_source_access": "citation-text-only", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "New Jersey", "where": "NJ", "median_hourly_wage_usd": 32.81, "wage_differential_vs_national_pct": 10.12, "median_wage_source": "U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/current/oes_nj.htm", "license_regime": "A state-level license and business permit are required in New Jersey to perform electrical contracting work. Licensing is regulated statewide by the New Jersey Board of Examiners of Electrical Contractors (Division of Consumer Affairs) rather than local municipalities. License/qualification tiers include Qualified Journeyman Electrician and Licensed Electrical Contractor (holds an individual license and business permit).", "license_source": "New Jersey Board of Examiners of Electrical Contractors, New Jersey Division of Consumer Affairs, 2025, https://www.njconsumeraffairs.gov/elec", "bonding_requirement": "Licensed electrical contractors in New Jersey must maintain a $1,000 surety bond as required by N.J.S.A. 45:5A-19 and carry a minimum of $300,000 in general liability insurance.", "bonding_source": "New Jersey Board of Examiners of Electrical Contractors / N.J.S.A. 45:5A-19, 2025, https://www.njconsumeraffairs.gov/elec", "market_size_or_density_note": "New Jersey employed 14,350 electricians (SOC 47-2111) with an employment density of 3.416 electricians per 1,000 jobs, corresponding to a location quotient of 0.73 relative to the national average.", "market_source": "U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/current/oes_nj.htm", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 32.81 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "url", "bonding_source_access": "url", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "New Mexico", "where": "NM", "median_hourly_wage_usd": 26.92, "wage_differential_vs_national_pct": -9.65, "median_wage_source": "U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/current/oes_nm.htm", "license_regime": "State-level licensing is required in New Mexico, administered by the Construction Industries Division (CID) of the New Mexico Regulation and Licensing Department (RLD); local cities/counties do not issue separate trade licenses. Licensing consists of individual Journeyman Certificates of Competence (e.g., EE-98J Residential and Commercial Electrical requiring 4 years/8,000 hours of experience; ER-1J Residential requiring 2 years experience) and Electrical Contractor classifications (e.g., EE-98 Residential and Commercial Electrical Contractor operating at 5,000V or less, requiring a qualifying party with journeyman status).", "license_source": "New Mexico Regulation and Licensing Department (RLD), Construction Industries Division (CID), 2024, https://www.rld.nm.gov/construction", "bonding_requirement": "New Mexico requires electrical contractors to maintain a $10,000 contractor license surety bond (or cash deposit) as a condition of licensure under NMSA 1978 § 60-13-12. Workers' compensation insurance is also required for contractors with employees.", "bonding_source": "New Mexico Construction Industries Licensing Act, NMSA 1978 § 60-13-12 / NM CID, 2024, https://www.rld.nm.gov/construction", "market_size_or_density_note": "New Mexico employs 5,060 electricians (SOC 47-2111) with an occupational concentration of 5.987 per 1,000 jobs and a location quotient of 1.28, representing a contractor/trade density 28% higher than the national average.", "market_source": "U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/current/oes_nm.htm", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 26.92 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "url", "bonding_source_access": "url", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "New York", "where": "NY", "median_hourly_wage_usd": 37.23, "wage_differential_vs_national_pct": 24.95, "median_wage_source": "U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/current/oes_ny.htm", "license_regime": "No statewide electrician or electrical contractor license is required in the State of New York; licensing authority is decentralized and governed entirely at the local (city, town, or county) level. Licensing structures vary by municipality; for example, the New York City Department of Buildings (DOB) licenses Master Electricians and Special Electricians (no NYC journeyman tier), whereas other cities like Buffalo issue Journeyman and Master Electrician licenses.", "license_source": "New York City Department of Buildings (NYC DOB), 2024", "bonding_requirement": "Because licensing is local, bonding and insurance minimums are set by municipal authorities rather than a single state board. In New York City, licensed Master Electrician businesses must maintain at least $1,000,000 in general liability insurance per occurrence, as well as statutory workers' compensation and disability insurance listing the DOB as certificate holder. Local jurisdictions or related licenses may require surety bonds (e.g., $20,000 bond for NYC DCWP Home Improvement Contractors or $25,000 contractor bond in Putnam County).", "bonding_source": "New York City Department of Buildings (NYC DOB) Insurance Guidelines, 2024", "market_size_or_density_note": "As of May 2023, New York employed 40,670 electricians (SOC 47-2111), representing an occupational density of 4.33 electricians per 1,000 jobs and a location quotient of 0.92.", "market_source": "U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/current/oes_ny.htm", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 37.23 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "citation-text-only", "bonding_source_access": "citation-text-only", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "North Carolina", "where": "NC", "median_hourly_wage_usd": 24.49, "wage_differential_vs_national_pct": -17.81, "median_wage_source": "U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/current/oes_nc.htm", "license_regime": "State-level electrical contractor license is required across North Carolina, governed by the North Carolina State Board of Examiners of Electrical Contractors (NCBEEC) pursuant to N.C.G.S. Chapter 87, Article 4. Primary license tiers include Limited (projects up to $60,000 and <=600 volts), Intermediate (projects up to $150,000), and Unlimited (no project dollar value or voltage limits). The board also issues several Special Restricted licenses (e.g., Single-Family Dwelling, Fire Alarm/Low Voltage, Elevator, Electric Sign, Swimming Pool).", "license_source": "North Carolina State Board of Examiners of Electrical Contractors (NCBEEC), 2023, https://www.ncbeec.org", "bonding_requirement": "N.C.G.S. § 87-43.2 requires Intermediate license applicants to submit a $60,000 Statement of Bonding Ability (or equivalent bank line of credit) and Unlimited license applicants to submit a $150,000 Statement of Bonding Ability (or bank line of credit). Limited license holders have no state bonding ability statement requirement. NCBEEC does not mandate a minimum general liability insurance policy to hold a license, though workers' compensation insurance is required under state law for employers with 3 or more employees.", "bonding_source": "North Carolina General Assembly, N.C.G.S. § 87-43.2, 2023, https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_87/GS_87-43.2.html", "market_size_or_density_note": "As of May 2023, the U.S. Bureau of Labor Statistics reported 21,900 employed electricians (SOC 47-2111) in North Carolina, representing an occupational density of 4.567 per 1,000 jobs and a location quotient of 0.97 relative to the national average.", "market_source": "U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/current/oes_nc.htm", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 24.49 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "url", "bonding_source_access": "url", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "North Dakota", "where": "ND", "median_hourly_wage_usd": 36.6, "wage_differential_vs_national_pct": 22.84, "median_wage_source": "U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/current/oes_nd.htm", "license_regime": "A state-level license is mandatory for electrical work in North Dakota, governed statewide by the North Dakota State Electrical Board (NDSEB). License tiers include Master Electrician (Contracting Master, Master of Record, Non-Contracting Master), Journeyman Electrician, Class B Electrician, Apprentice Electrician, and Power-Limited Electrician.", "license_source": "North Dakota State Electrical Board (NDSEB), 2024, https://www.ndseb.com", "bonding_requirement": "Contracting master electricians must maintain public liability insurance of at least $100,000 ($50,000 for Class B electricians) per NDCC § 43-09-20. Instead of individual corporate surety bonds, North Dakota maintains a state Electrical Undertaking Fund administered by the NDSEB under NDCC § 43-09-14.", "bonding_source": "North Dakota Legislative Branch, North Dakota Century Code Chapter 43-09, 2024, https://www.ndlegis.gov", "market_size_or_density_note": "North Dakota employs 3,180 electricians (SOC 47-2111) with a location quotient of 1.62 and 7.614 electricians per 1,000 jobs, representing an employment density 62% above the national average.", "market_source": "U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/current/oes_nd.htm", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 36.6 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "url", "bonding_source_access": "url", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "Ohio", "where": "OH", "median_hourly_wage_usd": 30.46, "wage_differential_vs_national_pct": 2.23, "median_wage_source": "U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/current/oes_oh.htm and https://www.bls.gov/oes/current/oes_nat.htm", "license_regime": "State-level licensing is required for commercial electrical contractors, governed by the Ohio Construction Industry Licensing Board (OCILB) under Ohio Revised Code Chapter 4740. State license classifications include Electrical Contractor (EC) and Electrical Contractor Residential (ECR). Journeyman electrician credentials and general contractor registrations are administered locally by individual municipalities rather than at the state level.", "license_source": "Ohio Construction Industry Licensing Board (OCILB), Ohio Department of Commerce, 2024, https://com.ohio.gov/divisions-and-programs/industrial-compliance/boards/ohio-construction-industry-licensing-board", "bonding_requirement": "State-licensed electrical contractors must maintain a minimum of $500,000 in contractor general liability insurance (Ohio Administrative Code Rule 4740-1-03). OCILB does not impose a single statewide surety bond requirement to hold the state license; however, local municipalities (such as Columbus and Cleveland) require contractor registration/permit bonds typically ranging from $10,000 to $25,000.", "bonding_source": "Ohio Construction Industry Licensing Board (OCILB) / Ohio Administrative Code Rule 4740-1-03, 2024, https://com.ohio.gov/divisions-and-programs/industrial-compliance/boards/ohio-construction-industry-licensing-board", "market_size_or_density_note": "As of May 2023, Ohio employed 24,430 electricians (SOC 47-2111), representing a density of 4.467 electricians per 1,000 jobs and a location quotient of 0.95 relative to the national average.", "market_source": "U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/current/oes_oh.htm", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 30.46 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "url", "bonding_source_access": "url", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "Oklahoma", "where": "OK", "median_hourly_wage_usd": 27.76, "wage_differential_vs_national_pct": -6.83, "median_wage_source": "U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS), May 2023 (published April 2024), https://www.bls.gov/oes/current/oes_ok.htm and https://www.bls.gov/oes/current/oes472111.htm", "license_regime": "A state-level license is required in Oklahoma to perform electrical work or operate an electrical contracting business, administered by the Oklahoma Construction Industries Board (CIB) under the Oklahoma Electrical License Act (59 O.S. § 1680 et seq.). State licensing tiers include Apprentice Electrician (registration), Journeyman Electrician (Unlimited or Residential), Master Electrician, and Electrical Contractor (Unlimited, Residential, or Limited).", "license_source": "Oklahoma Construction Industries Board (CIB), 2024, https://oklahoma.gov/cib.html", "bonding_requirement": "Active licensed electrical contractors must maintain a $5,000 corporate surety bond payable to the Oklahoma Construction Industries Board and carry a minimum of $50,000 in commercial general liability insurance with the CIB named as certificate holder.", "bonding_source": "Oklahoma Construction Industries Board (CIB), Active Contractor Requirements, 2024, https://oklahoma.gov/cib.html", "market_size_or_density_note": "Oklahoma had an estimated 7,220 employed electricians (SOC 47-2111) in May 2023, representing an employment density of 4.337 per 1,000 jobs and a location quotient of 0.92 relative to the national average.", "market_source": "U.S. Bureau of Labor Statistics (BLS) OEWS, May 2023 (published April 2024), https://www.bls.gov/oes/current/oes_ok.htm", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 27.76 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "url", "bonding_source_access": "url", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "Oregon", "where": "OR", "median_hourly_wage_usd": 42.68, "wage_differential_vs_national_pct": 43.25, "median_wage_source": "U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS), May 2023 (published April 2024), https://www.bls.gov/oes/current/oes_or.htm", "license_regime": "Mandatory statewide licensing. Individual electricians are licensed by the Oregon Building Codes Division (BCD) under ORS Chapter 479 and OAR Chapter 918. Individual license tiers include General Journeyman Electrician (Class A), General Supervising Electrician, Limited Residential Electrician (LR), Limited Energy Technician (Class A/B LEA/LEB), Limited Maintenance Electrician (LME), and Limited Renewable Energy Technician. Electrical contracting businesses must additionally hold an Electrical Specialty Contractor license issued by the Oregon Construction Contractors Board (CCB) under ORS Chapter 701 and designate a licensed General Supervising Electrician.", "license_source": "Oregon Building Codes Division (BCD), 2024, and Oregon Construction Contractors Board (CCB), 2024, https://www.oregon.gov/ccb/Pages/index.aspx", "bonding_requirement": "Contractors licensed by the Oregon Construction Contractors Board (CCB) must maintain surety bonds and general liability insurance. Surety bond minimums range from $15,000 to $25,000 for Residential Contractors ($25,000 for Residential General Contractor, $20,000 for Residential Specialty Contractor, $15,000 for Residential Limited Contractor) and $25,000 to $80,000 for Commercial Contractors ($25,000 for Commercial Specialty Level 2, $55,000 for Commercial Specialty Level 1, $80,000 for Commercial General Level 1). Public works contracts exceeding $100,000 require an additional $30,000 Public Works Bond. General liability insurance minimums are $500,000 per occurrence for residential contractors, and $500,000 to $2,000,000 for commercial contractors depending on level.", "bonding_source": "Oregon Construction Contractors Board (CCB) / Oregon Revised Statutes Chapter 701, 2024, https://www.oregon.gov/ccb/Pages/index.aspx", "market_size_or_density_note": "According to BLS OEWS May 2023 data, Oregon employs 9,260 electricians (SOC 47-2111) statewide, representing an employment density of 4.77 electricians per 1,000 jobs and a location quotient of 1.02.", "market_source": "U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS), May 2023 (published April 2024), https://www.bls.gov/oes/current/oes_or.htm", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 42.68 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "url", "bonding_source_access": "url", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "Pennsylvania", "where": "PA", "median_hourly_wage_usd": 31.59, "wage_differential_vs_national_pct": 6.02, "median_wage_source": "U.S. Bureau of Labor Statistics, May 2023 OEWS State Occupational Employment and Wage Estimates - Pennsylvania, https://www.bls.gov/oes/current/oes_pa.htm", "license_regime": "No statewide electrician or electrical contractor license is issued by the Commonwealth of Pennsylvania; electrical trade licensing is governed locally by individual municipalities (e.g., Philadelphia, Pittsburgh). Statewide, contractors performing $5,000 or more annually in residential home improvement work must register with the state under the Home Improvement Consumer Protection Act (HICPA).", "license_source": "Pennsylvania Office of Attorney General, Home Improvement Consumer Protection Act (HICPA), 2024", "bonding_requirement": "No statewide surety bond is required for electrical contractors. Statewide HICPA registration requires maintaining commercial general liability insurance of at least $50,000 for personal injury and $50,000 for property damage. Specific bonding requirements and higher insurance limits vary by local municipal licensing boards.", "bonding_source": "Pennsylvania Office of Attorney General, Home Improvement Contractor Registration System, 2024", "market_size_or_density_note": "Pennsylvania has an estimated 20,770 employed electricians (SOC 47-2111), representing a density of 3.491 electricians per 1,000 jobs and a location quotient of 0.74 relative to the national average.", "market_source": "U.S. Bureau of Labor Statistics, May 2023 OEWS State Occupational Employment and Wage Estimates - Pennsylvania, https://www.bls.gov/oes/current/oes_pa.htm", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 31.59 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "citation-text-only", "bonding_source_access": "citation-text-only", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "Rhode Island", "where": "RI", "median_hourly_wage_usd": 31.85, "wage_differential_vs_national_pct": 6.9, "median_wage_source": "U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/current/oes_ri.htm", "license_regime": "Statewide licensing is required in Rhode Island and administered at the state level by the Rhode Island Department of Labor and Training (DLT) Board of Examiners of Electricians (local city/county licenses do not replace state licensure). Primary license tiers include Registered Apprentice, Certificate B (Journeyperson Electrician - requiring 8,000 hours/4 years of supervised OJT and 576 classroom hours), and Certificate A (Electrical Contractor / Master Electrician - requiring 12,000 hours/6 years total experience including 2 years as a licensed journeyperson). Specialty licenses also exist for fire alarm, electric sign, and oil burner systems.", "license_source": "Rhode Island Department of Labor and Training, Board of Examiners of Electricians, 2024, https://dlt.ri.gov", "bonding_requirement": "Rhode Island requires Master Electrical Contractors to maintain a minimum of $500,000 in public liability and property damage (general liability) insurance coverage. Statutory workers' compensation insurance is required for contractors with employees. Rhode Island does not impose a general statewide surety bond requirement for standard electrical contractors, though separate registration with the Contractors' Registration and Licensing Board (CRLB) or specific specialty work may have additional prerequisites.", "bonding_source": "Rhode Island Department of Labor and Training, Workforce Regulation and Safety, Professional Regulation Unit (R.I. Gen. Laws § 5-65-2 and § 5-65-7), 2024, https://dlt.ri.gov", "market_size_or_density_note": "Rhode Island employs approximately 2,350 electricians (SOC 47-2111), representing a employment density of 4.81 electricians per 1,000 jobs and a location quotient of 1.03 relative to the national average.", "market_source": "U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/current/oes_ri.htm", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 31.85 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "url", "bonding_source_access": "url", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "South Carolina", "where": "SC", "median_hourly_wage_usd": 24.98, "wage_differential_vs_national_pct": -16.16, "median_wage_source": "U.S. Bureau of Labor Statistics (BLS) OEWS, May 2023, https://www.bls.gov/oes/current/oes_sc.htm", "license_regime": "State-level licensing is required in South Carolina through the Department of Labor, Licensing and Regulation (LLR). Commercial electrical work is licensed by the South Carolina Contractors' Licensing Board (CLB) under a Mechanical Contractor license (Electrical classification), tiered into Groups 1 through 5 based on per-project valuation limits. Residential electrical work on projects exceeding $5,000 is licensed by the South Carolina Residential Builders Commission (RBC) as a Licensed Residential Specialty Contractor (Electrical).", "license_source": "South Carolina Department of Labor, Licensing and Regulation (LLR) - Contractors' Licensing Board, 2024, https://llr.sc.gov/clb", "bonding_requirement": "Licensed Residential Specialty Electrical Contractors must furnish a $10,000 surety bond when undertaking residential electrical projects exceeding $5,000 (S.C. Code Ann. § 40-59-220(D)). Commercial Mechanical Contractors (Electrical) must meet financial criteria by license group, with option to submit surety bonds ranging from $20,000 (Group 1) to $350,000 (Group 5) in lieu of working capital/net worth financial statements. General liability insurance is required as a condition of state licensure.", "bonding_source": "South Carolina Residential Builders Commission & S.C. Code Ann. § 40-59-220(D), 2024, https://llr.sc.gov/res", "market_size_or_density_note": "South Carolina employs 7,320 electricians (SOC 47-2111), representing an employment density of 3.291 electricians per 1,000 jobs and a location quotient of 0.70 relative to the national average.", "market_source": "U.S. Bureau of Labor Statistics (BLS) OEWS, May 2023, https://www.bls.gov/oes/current/oes_sc.htm", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 24.98 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "url", "bonding_source_access": "url", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "South Dakota", "where": "SD", "median_hourly_wage_usd": 27.76, "wage_differential_vs_national_pct": -6.83, "median_wage_source": "U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/current/oes_sd.htm", "license_regime": "Statewide licensing is required for the electrical trade in South Dakota under the South Dakota Electrical Commission (SDCL Chapter 36-16). License tiers include Electrical Contractor, Journeyman Electrician, Class B Electrician, Apprentice Electrician, Maintenance Electrician, and Electrical Inspector.", "license_source": "South Dakota Electrical Commission / South Dakota State Legislature, 2023, https://sdlegislature.gov/Statutes/Codified_Laws/2056073", "bonding_requirement": "Under SDCL 36-16-20, Electrical Contractors and Class B Electricians must execute and deposit a $10,000 bond/undertaking with the State Electrical Commission (plus a $50 biennial deposit) and maintain public liability insurance of at least $100,000 per occurrence / $300,000 aggregate for bodily injury and $25,000 per occurrence for property damage (or a $300,000 combined single limit).", "bonding_source": "South Dakota State Legislature, SDCL 36-16-20, 2023, https://sdlegislature.gov/Statutes/Codified_Laws/2056073", "market_size_or_density_note": "According to BLS OEWS May 2023 data, South Dakota employs 2,650 electricians (SOC 47-2111), representing a density of 5.973 electricians per 1,000 jobs and a location quotient of 1.27 compared to the U.S. national average.", "market_source": "U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/current/oes_sd.htm", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 27.76 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "url", "bonding_source_access": "url", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "Tennessee", "where": "TN", "median_hourly_wage_usd": 26.62, "wage_differential_vs_national_pct": -10.66, "median_wage_source": "U.S. Bureau of Labor Statistics (BLS) OEWS, May 2023, https://www.bls.gov/oes/current/oes_tn.htm", "license_regime": "Tennessee regulates electrical contracting at the state level via the Board for Licensing Contractors. A state Electrical Contractor (CE) license is required for any project costing $25,000 or more (materials + labor), which is valid statewide. For electrical work under $25,000, the state issues a Limited Licensed Electrician (LLE) license in municipalities utilizing the State Fire Marshal's Office for inspections; however, major cities and counties (e.g., Davidson, Shelby, Knox, Hamilton) enforce local master/journeyman licensing for under-$25,000 projects.", "license_source": "Tennessee Board for Licensing Contractors, 2024, https://www.tn.gov/commerce/regboards/contractors.html", "bonding_requirement": "State Electrical Contractor (CE) license holders must maintain minimum General Liability insurance based on their requested monetary limit: $100,000 for limits up to $500,000; $500,000 for limits between $500,001 and $1,500,000; and $1,000,000 for limits above $1,500,000, plus Workers' Compensation insurance as required by state law. Surety bonds ($500,000 or $1,000,000) are only required if used to supplement working capital and net worth shortfall to qualify for a higher monetary limit. LLE licenses do not require state-level insurance or bonding, though local municipalities may require local permit bonds.", "bonding_source": "Tennessee Board for Licensing Contractors, 2024", "market_size_or_density_note": "In 2026, the market size of the Electricians industry in Tennessee reached $5.4 billion with 4,125 active businesses and 22,566 total industry employees (IBISWorld). BLS OEWS May 2023 estimates 17,200 individual electricians (SOC 47-2111) employed statewide.", "market_source": "IBISWorld, 2026, https://www.ibisworld.com and U.S. Bureau of Labor Statistics (BLS) OEWS, May 2023, https://www.bls.gov/oes/current/oes_tn.htm", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 26.62 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "url", "bonding_source_access": "citation-text-only", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "Texas", "where": "TX", "median_hourly_wage_usd": 26.87, "wage_differential_vs_national_pct": -9.82, "median_wage_source": "U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/2023/may/oes472111.htm", "license_regime": "State-level licensing is required in Texas and is administered statewide by the Texas Department of Licensing and Regulation (TDLR) under Texas Occupations Code Chapter 1305 (Texas Electrical Safety and Licensing Act); local municipalities cannot issue separate trade licenses, though they may require local contractor registration for permits. License tiers include Electrical Apprentice, Residential Wireman, Journeyman Electrician, Journeyman Industrial Electrician, Master Electrician, Master Sign Electrician, Residential Appliance Installer, and Electrical Contractor (business entity).", "license_source": "Texas Department of Licensing and Regulation (TDLR), 2023, https://www.tdlr.texas.gov/electricians", "bonding_requirement": "TDLR does not mandate a statewide surety bond for electrical contractors. However, to hold an Electrical Contractor license, businesses must maintain minimum general liability insurance coverage of $300,000 per occurrence (combined bodily injury and property damage), $600,000 general aggregate, and $300,000 aggregate for products and completed operations under 16 Tex. Admin. Code § 73.40. Workers' compensation coverage is optional for private employers in Texas.", "bonding_source": "Texas Department of Licensing and Regulation (TDLR) / 16 Tex. Admin. Code § 73.40, 2023", "market_size_or_density_note": "Texas employed 70,580 electricians (SOC 47-2111) in May 2023, representing an occupational density of 5.206 electricians per 1,000 total state jobs and a location quotient of 1.11 relative to the national workforce baseline.", "market_source": "U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/2023/may/oes_tx.htm", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 26.87 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "url", "bonding_source_access": "citation-text-only", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "Utah", "where": "UT", "median_hourly_wage_usd": 28.79, "wage_differential_vs_national_pct": -3.37, "median_wage_source": "U.S. Bureau of Labor Statistics, May 2023 OEWS State Occupational Employment and Wage Estimates: Utah & National (SOC 47-2111 Electricians), 2024, https://www.bls.gov/oes/current/oes_ut.htm", "license_regime": "State-level licensure is mandatory in Utah through the Division of Professional Licensing (DOPL) within the Utah Department of Commerce under the Construction Trades Licensing Act (Utah Code Title 58 Chapter 55); local municipalities cannot override state trade licensing standards. Individual trade license tiers comprise Apprentice Electrician, Journeyman Electrician, Residential Journeyman Electrician, Master Electrician, and Residential Master Electrician. Electrical contracting businesses must hold a specialty contractor license under General Electrical Contractor (S200) or Residential Electrical Contractor (S201) classifications.", "license_source": "Utah Division of Professional Licensing (DOPL), Utah Department of Commerce, 2024, https://dopl.utah.gov/contractor", "bonding_requirement": "Under Utah Code § 58-55-306, specialty contractors (including electrical contractors) must maintain a $15,000 contractor license surety bond unless meeting DOPL financial responsibility/net worth criteria. DOPL requires general liability insurance (minimum limits of $1,000,000 per occurrence and $2,000,000 aggregate, or $100,000 per occurrence / $300,000 aggregate for legacy/specialty minimums) and workers' compensation insurance or an approved coverage waiver.", "bonding_source": "Utah Division of Professional Licensing (DOPL), Construction Trades Licensing Act (Utah Code § 58-55-306 / Utah Admin. Code R156-55a), 2024, https://dopl.utah.gov/contractor", "market_size_or_density_note": "Utah employed 11,350 electricians (SOC 47-2111) with a location quotient of 1.44 and an employment density of 6.76 electricians per 1,000 jobs, indicating an occupational concentration 44% higher than the national baseline.", "market_source": "U.S. Bureau of Labor Statistics, May 2023 OEWS State Occupational Employment and Wage Estimates: Utah (SOC 47-2111 Electricians), 2024, https://www.bls.gov/oes/current/oes_ut.htm", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 28.79 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "url", "bonding_source_access": "url", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "Vermont", "where": "VT", "median_hourly_wage_usd": 27.02, "wage_differential_vs_national_pct": -9.31, "median_wage_source": "U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/current/oes_vt.htm", "license_regime": "State-level license is required in Vermont administered by the Electricians' Licensing Board under the Department of Public Safety Division of Fire Safety (26 V.S.A. Chapter 15). Individual licensing tiers include Apprentice Electrician, Journeyman Electrician, Master Electrician, and Type-S (Specialty) Journeyman/Master Electrician, along with Electrical Contractor business registration.", "license_source": "Vermont Department of Public Safety, Division of Fire Safety, Electricians' Licensing Board, 2025", "bonding_requirement": "State law under 26 V.S.A. Chapter 15 does not mandate a statewide surety bond to obtain or hold an electrical license; however, licensed contractors must maintain workers' compensation insurance if employing staff, active general liability insurance, and may face individual bonding requirements at municipal levels or under specific public construction project contracts.", "bonding_source": "Vermont Department of Public Safety, Division of Fire Safety, Electricians' Licensing Board Rules, 2025", "market_size_or_density_note": "Vermont employed 1,240 electricians (SOC 47-2111) as of May 2023, with an employment density of 4.129 per 1,000 jobs.", "market_source": "U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/current/oes_vt.htm", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 27.02 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "citation-text-only", "bonding_source_access": "citation-text-only", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "Virginia", "where": "VA", "median_hourly_wage_usd": 29, "wage_differential_vs_national_pct": -2.67, "median_wage_source": "U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/current/oes_va.htm", "license_regime": "State-level licensing is required in Virginia. The Virginia Department of Professional and Occupational Regulation (DPOR) Board for Contractors issues contractor licenses to business entities across three classes based on project size and annual volume thresholds: Class C (projects $1,000 to $30,000; up to $250,000 annually), Class B (projects $30,000 to $150,000; $250,000 to $1,000,000 annually), and Class A (projects $150,000 or more; $1,000,000 or more annually). Contracting entities must designate a Qualified Individual (such as a licensed Master Electrician). Individual tradesmen (Journeyman and Master Electricians) are also certified at the state level.", "license_source": "Virginia Department of Professional and Occupational Regulation (DPOR) Board for Contractors, 2025, https://www.dpor.virginia.gov/Boards/Contractors", "bonding_requirement": "Class A and Class B contractor applicants must demonstrate financial responsibility through a minimum net worth ($45,000 for Class A, $15,000 for Class B) or post a $50,000 surety bond in lieu of net worth. Class C contractors have no state surety bond requirement.", "bonding_source": "Virginia Department of Professional and Occupational Regulation (DPOR) Board for Contractors Regulations (18 VAC 50-22), 2025, https://www.dpor.virginia.gov/Boards/Contractors", "market_size_or_density_note": "In May 2023, Virginia employed 22,150 Electricians (SOC 47-2111), representing 5.563 electrician jobs per 1,000 total state jobs and a location quotient of 1.19 relative to the national average.", "market_source": "U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/current/oes_va.htm", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 29 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "url", "bonding_source_access": "url", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "Washington", "where": "WA", "median_hourly_wage_usd": 39.44, "wage_differential_vs_national_pct": 32.37, "median_wage_source": "U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/2023/may/oes_wa.htm", "license_regime": "In Washington State, electrical licensing is required at the state level and administered by the Department of Labor & Industries (L&I) under RCW 19.28; local cities or counties cannot supersede or substitute state licensing requirements. Individual credential tiers include Electrical Trainee, General Journey Level Electrician (01), Specialty Electrician (e.g., Residential 02, Pump/Irrigation 03, Limited Energy 06), Master General Journey Level Electrician (01), and Electrical Administrator (General AD01 and 14 Specialties). Contracting entities must obtain a General or Specialty Electrical Contractor License and designate a Master Electrician or Electrical Administrator.", "license_source": "Washington State Department of Labor & Industries (L&I), Electrical Program, 2024", "bonding_requirement": "Pursuant to RCW 19.28.041, electrical contractors must post a $4,000 continuous surety bond or cash assignment of savings with L&I. Additionally, contractors must carry commercial general liability insurance with minimum limits of $200,000 public liability and $50,000 property damage (or a $250,000 combined single limit).", "bonding_source": "Washington State Department of Labor & Industries (L&I) / Revised Code of Washington RCW 19.28.041, 2024", "market_size_or_density_note": "According to BLS OEWS May 2023 data, Washington State employed 18,820 electricians (SOC 47-2111), representing an occupational density of 5.384 electricians per 1,000 jobs and a location quotient of 1.15 relative to the national baseline.", "market_source": "U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/2023/may/oes_wa.htm", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 39.44 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "citation-text-only", "bonding_source_access": "citation-text-only", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "West Virginia", "where": "WV", "median_hourly_wage_usd": 30.34, "wage_differential_vs_national_pct": 1.83, "median_wage_source": "U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/current/oes_wv.htm", "license_regime": "Statewide licensing is required in West Virginia. Individual electrician credentials (Apprentice, Journeyman, Master, and Specialty) are issued by the West Virginia Office of the State Fire Marshal under W. Va. Code § 29-3B. Electrical contracting businesses performing work exceeding $1,000 must also obtain a Specialty Electrical Contractor license from the West Virginia Contractor Licensing Board (WV Division of Labor) under W. Va. Code § 21-11.", "license_source": "West Virginia State Fire Marshal & West Virginia Contractor Licensing Board, 2026", "bonding_requirement": "West Virginia does not have a general statewide contractor license bond, but contractors with employees who have operated in WV for less than one year must post a Wage Bond equal to 115% of four weeks of peak payroll and fringe benefits under W. Va. Code § 21-5-14. Proof of Workers' Compensation and Unemployment Compensation insurance is also required.", "bonding_source": "West Virginia Division of Labor, 2024", "market_size_or_density_note": "West Virginia employs 3,560 electricians with a location quotient of 1.10 and a density of 5.165 electrician jobs per 1,000 total jobs in the state.", "market_source": "U.S. Bureau of Labor Statistics (BLS) OEWS, May 2023, https://www.bls.gov/oes/current/oes_wv.htm", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 30.34 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "citation-text-only", "bonding_source_access": "citation-text-only", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "Wisconsin", "where": "WI", "median_hourly_wage_usd": 35.89, "wage_differential_vs_national_pct": 20.46, "median_wage_source": "U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS), May 2023 (released April 2024), https://www.bls.gov/oes/current/oes_wi.htm", "license_regime": "Statewide licensing is required for electrical work in Wisconsin, administered by the Wisconsin Department of Safety and Professional Services (DSPS) under Wis. Stat. § 101.862 and Wis. Admin. Code SPS 305, preempting local trade licensing. Tiers include Registered Electrical Apprentice, Registered Electrician, Journeyman Electrician (including Residential Journeyman and Industrial Journeyman), Master Electrician (including Residential Master), and Electrical Contractor (business entity credential requiring an active Master Electrician as qualifying agent).", "license_source": "Wisconsin Department of Safety and Professional Services (DSPS), 2024, https://dsps.wi.gov/Pages/Professions/ElectricalContractor/Default.aspx", "bonding_requirement": "For state electrical contractor licensing, DSPS requires proof of worker's compensation insurance compliance (Wis. Stat. ch. 102). Contractors doing work on 1- and 2-family residential dwellings (Dwelling Contractor credential under SPS 305.31) must submit proof of financial responsibility via either a minimum $250,000 general liability insurance policy per occurrence or a $25,000 surety bond. Standalone state-level surety bonds are not required for commercial-only electrical contractor licenses, though local municipalities may impose local performance or permit bonding.", "bonding_source": "Wisconsin Administrative Code SPS 305.31 & SPS 305.41 / Wisconsin DSPS, 2024, https://dsps.wi.gov/Pages/Professions/DwellingContractor/Default.aspx", "market_size_or_density_note": "According to the BLS Quarterly Census of Employment and Wages (QCEW) 2024 annual averages, Wisconsin has 1,658 electrical contracting establishments employing 19,770 workers, with an industry location quotient of 0.99. The U.S. Census Bureau SUSB / BLS QCEW data reports total state electrical contractor industry revenue of approximately $3.9 billion.", "market_source": "U.S. Bureau of Labor Statistics Quarterly Census of Employment and Wages (QCEW), 2024, https://www.bls.gov/cew", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 35.89 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "url", "bonding_source_access": "url", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" }, { "name": "Wyoming", "where": "WY", "median_hourly_wage_usd": 30.98, "wage_differential_vs_national_pct": 3.98, "median_wage_source": "U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/current/oes_wy.htm", "license_regime": "A state-level license is required in Wyoming for electrical work, making electrical contracting the only construction trade regulated at the state level rather than locally (W.S. 35-9-125). Licensing tiers include Apprentice Electrician, Journeyman Electrician, Master Electrician, Electrical Contractor (must employ a full-time Master Electrician of record), and Low Voltage / Limited Technician / Electrical Contractor.", "license_source": "Wyoming Department of Fire Prevention and Electrical Safety, 2024, https://wsfm.wyo.gov", "bonding_requirement": "Wyoming state law does not mandate a statewide surety bond or liability insurance threshold for resident electrical contractors; however, non-resident contractors must post a minimum $20,000 surety bond with the Wyoming Department of Workforce Services if anticipated monthly payroll exceeds $10,000. Municipalities (e.g., Jackson, Sheridan, Gillette) enforce local contractor license bonding and liability insurance requirements.", "bonding_source": "Wyoming Statutes Annotated W.S. 35-9-125 / JW Surety Bonds, 2024, https://www.jwsuretybonds.com/states/wyoming/contractor-license-bond", "market_size_or_density_note": "According to May 2023 BLS OEWS data, Wyoming employed approximately 2,370 electricians (SOC 47-2111), representing an employment density of 8.672 per 1,000 jobs and a location quotient of 1.85 (85% higher concentration than the national average).", "market_source": "U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/current/oes_wy.htm", "wage_differential_vs_national_pct_basis": "Computed as (state median hourly wage 30.98 minus the national median 29.795) / 29.795. The national figure is the one published on this trade's page.", "wage_differential_vs_national_pct_source": "Trade Economy Index research synthesis: median of 2 cited research inputs: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) May 2025 Estimates, https://www.bls.gov/oes/current/oes472111.htm | U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), May 2024, https://www.bls.gov/oes/current/oes472111.htm", "median_wage_source_access": "url", "license_source_access": "url", "bonding_source_access": "url", "market_source_access": "url", "wage_differential_vs_national_pct_source_access": "url" } ], "msas": [ { "name": "Atlanta", "where": "GA", "contractor_density_note": "According to the U.S. Bureau of Labor Statistics May 2023 OEWS, the Atlanta-Sandy Springs-Roswell, GA MSA employed 12,160 electricians (SOC 47-2111), representing a density of 4.32 electricians per 1,000 total jobs in the metropolitan area and a location quotient of 0.92.", "density_source": "U.S. Bureau of Labor Statistics, May 2023 Occupational Employment and Wage Statistics (OEWS), 2024, https://www.bls.gov/oes/current/oes_12060.htm", "permit_volume_trend": "Metro Atlanta experienced strong residential construction activity in 2023 with 38,639 total units permitted (including 24,136 single-family permits). Through mid-2025, the Atlanta-Sandy Springs-Roswell MSA ranked 4th nationally with 11,833 YTD single-family permits, though elevated interest rates led to a 42.0% year-over-year decrease in single-family permitting in early 2026.", "permit_source": "U.S. Census Bureau, Building Permits Survey (via NAHB Eye On Housing, 2026), https://eyeonhousing.org/2026/04/single-family-permits-decline-sharply-to-start-2026", "market_context_note": "The Atlanta-Sandy Springs-Roswell MSA added nearly 62,000 residents between July 2024 and June 2025, ranking as the 6th most populous metropolitan area in the United States and driving continuous baseline demand for commercial and residential electrical installations.", "market_context_source": "Atlanta Regional Commission, 2026, https://atlantaregional.com/news/building-permits-and-population-growth-in-metro-atlanta", "density_source_access": "url", "permit_source_access": "url", "market_context_source_access": "url" }, { "name": "Austin", "where": "TX", "contractor_density_note": "According to the U.S. Bureau of Labor Statistics (BLS), there were 5,490 electricians (SOC 47-2111) employed in the Austin-Round Rock, TX metropolitan area.", "density_source": "U.S. Bureau of Labor Statistics, May 2023 Occupational Employment and Wage Statistics (OEWS), https://www.bls.gov/oes/current/oes_12420.htm", "median_job_value_usd": 12017, "job_value_source": "Angi, 2026 Electrical Service Cost Insights for Austin TX, https://www.angi.com", "permit_volume_trend": "Total housing units authorized by building permits in the Austin metro area reached 26,964 units in 2025, a 16.5% decline from 32,294 units approved in 2024. Single-family construction accounted for 55.5% of total permitted units.", "permit_source": "U.S. Census Bureau Building Permits Survey / Opportunity Austin, 2026, https://www.opportunityaustin.com", "market_context_note": "The Austin-Round Rock metro area ranked 7th nationally for new home development activity, with over 3,000 new residential building permits authorized in the first two months of 2026 alone.", "market_context_source": "ConsumerAffairs / CultureMap Austin, 2026 Housing Report, https://austin.culturemap.com", "density_source_access": "url", "job_value_source_access": "url", "permit_source_access": "url", "market_context_source_access": "url" }, { "name": "Baltimore", "where": "MD", "contractor_density_note": "According to the U.S. Bureau of Labor Statistics OEWS dataset, the Baltimore-Columbia-Towson, MD metropolitan statistical area employed approximately 6,750 electricians (SOC 47-2111) as of May 2023, representing a density of approximately 5.18 electricians per 1,000 total jobs in the metro area.", "density_source": "U.S. Bureau of Labor Statistics (BLS), 2024, https://www.bls.gov/oes/current/oes_12580.htm", "permit_volume_trend": "New private housing structures authorized by building permits in the Baltimore-Columbia-Towson, MD MSA experienced a moderating trend through 2023-2025, averaging between 300 and 500 units per month as elevated mortgage rates and supply constraints slowed residential construction activity.", "permit_source": "U.S. Census Bureau & Federal Reserve Bank of St. Louis (FRED), 2026, https://fred.stlouisfed.org/series/BALT524BPPRIVSA", "market_context_note": "Demand for electrical contractors in the Baltimore metro is supported by Maryland climate policies and state mandates, including House Bill 830 (requiring Level 2 EV charging readiness in new residential construction) and regional Building Energy Performance Standards (BEPS) that drive electrification and retrofits across commercial buildings.", "market_context_source": "Maryland Department of the Environment (MDE), 2024, https://mde.maryland.gov/programs/air/climatechange/pages/cprg.aspx", "density_source_access": "url", "permit_source_access": "url", "market_context_source_access": "url" }, { "name": "Birmingham", "where": "AL", "contractor_density_note": "According to the U.S. Bureau of Labor Statistics, the Birmingham-Hoover, AL MSA employed 2,490 electricians (SOC 47-2121) representing 4.899 per 1,000 jobs (Location Quotient: 1.04), alongside 1,730 electrician helpers (SOC 47-3013) at 3.40 per 1,000 jobs.", "density_source": "U.S. Bureau of Labor Statistics, 2023, https://www.bls.gov/oes/current/oes_13820.htm", "permit_volume_trend": "Residential building permit issuance in the Birmingham-Hoover MSA expanded 59.7% year-over-year to 4,384 authorized housing units over the trailing 12 months (3.71 permits per 1,000 residents), with construction concentrated primarily in Jefferson and Shelby counties.", "permit_source": "U.S. Census Bureau Building Permits Survey, 2024", "market_context_note": "Electrical demand in the Birmingham metro area is supported by key non-residential developments and tech infrastructure projects, including the DC Blox data center expansion in Birmingham alongside commercial and healthcare construction across Central Alabama.", "market_context_source": "Electrical Wholesaling, 2023", "density_source_access": "url", "permit_source_access": "citation-text-only", "market_context_source_access": "citation-text-only" }, { "name": "Boston", "where": "MA", "contractor_density_note": "According to the U.S. Bureau of Labor Statistics May 2023 OEWS data, there were 15,010 employed electricians (SOC 47-2111) in the Boston-Cambridge-Nashua, MA-NH metropolitan area, representing a location quotient of 1.16 relative to the national average.", "density_source": "U.S. Bureau of Labor Statistics (BLS), May 2023 Occupational Employment and Wage Statistics, https://www.bls.gov/oes/current/oes_71650.htm", "permit_volume_trend": "In Greater Boston, annual residential housing units authorized by building permits peaked at 15,019 units in 2021 before declining sharply to under 9,000 units in 2024, with year-to-date 2025 permitting levels down 44 percent compared to 2021 peak levels.", "permit_source": "U.S. Census Bureau Building Permits Survey / Boston Indicators, 2025", "market_context_note": "Long-term regional and national demand for electrical trade contractors is driven by building electrification, EV charging infrastructure expansion, and clean energy transitions, with overall electrician employment projected to grow 10.8 percent and electrical contracting industry employment projected to grow 6.6 percent from 2023 to 2033.", "market_context_source": "U.S. Bureau of Labor Statistics (BLS), 2024, https://www.bls.gov/news.release/ecopro.nr0.htm", "density_source_access": "url", "permit_source_access": "citation-text-only", "market_context_source_access": "url" }, { "name": "Buffalo", "where": "NY", "contractor_density_note": "As of May 2023, the Buffalo-Cheektowaga-Niagara Falls, NY MSA employed 2,310 electricians (SOC 47-2111), corresponding to a location quotient of 0.94 and an annual mean wage of $77,400.", "density_source": "U.S. Bureau of Labor Statistics, 2023, https://www.bls.gov/oes/current/oes_15380.htm", "permit_volume_trend": "Residential building permit activity in the Buffalo-Cheektowaga-Niagara Falls MSA shifted from 3,197 total units in 2022 down to 2,101 units in 2023, and reached 2,659 units for the 12 months ending July 2024, reflecting a modest rebound off historically low construction levels.", "permit_source": "U.S. Department of Housing and Urban Development, 2024, https://www.huduser.gov/portal/ushmc/chma_archive.html", "market_context_note": "The City of Buffalo Department of Permit and Inspection Services issued 3,580 electrical permits in FY 2023-2024 and projected 3,526 electrical permits for FY 2024-2025, maintaining steady municipal permit volume for trade work and code compliance.", "market_context_source": "City of Buffalo Department of Permit and Inspection Services, 2025, https://www.buffalony.gov", "density_source_access": "url", "permit_source_access": "url", "market_context_source_access": "url" }, { "name": "Charlotte", "where": "NC", "contractor_density_note": "According to the U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), the Charlotte-Concord-Gastonia, NC-SC metropolitan statistical area had 6,420 employed electricians (SOC 47-2111) as of May 2024, representing an employment density of approximately 4.88 electricians per 1,000 total jobs.", "density_source": "U.S. Bureau of Labor Statistics, 2024, https://www.bls.gov/oes/current/oes472111.htm", "permit_volume_trend": "According to HUD Housing Market Profiles citing Census Building Permits Survey data, single-family sales units permitted in the Charlotte MSA totaled 19,150 in 2023 (down less than 1% from 19,250 in 2022), while multifamily rental units permitted fell 36% to 12,950 units as builders responded to rising interest rates and absorption of new supply.", "permit_source": "U.S. Department of Housing and Urban Development (HUD User) / U.S. Census Bureau Building Permits Survey, 2024", "market_context_note": "The North Carolina Department of Commerce projects a 17% expansion in electrician employment statewide between 2020 and 2030, averaging 2,740 annual openings across the state due to strong population growth and long-term construction demand in key urban hubs like Charlotte.", "market_context_source": "North Carolina Department of Commerce, 2024, https://electricianclasses.com/north-carolina", "density_source_access": "url", "permit_source_access": "citation-text-only", "market_context_source_access": "url" }, { "name": "Chicago", "where": "IL", "contractor_density_note": "According to U.S. Bureau of Labor Statistics data for the Chicago-Naperville-Elgin, IL-IN-WI metropolitan statistical area, there were 15,860 employed electricians (SOC 47-2111) as of May 2023, corresponding to a location quotient of 0.75 relative to the national average.", "density_source": "U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS), 2023, https://www.bls.gov/oes/current/oes472111.htm", "permit_volume_trend": "U.S. Census Bureau Building Permits Survey data shows the Chicago-Naperville-Elgin metropolitan area authorized 14,821 housing units in 2023 (~162 units per 100,000 residents), reflecting a sluggish residential permitting pace compared to historical levels and other major U.S. metropolitan markets.", "permit_source": "U.S. Census Bureau, Building Permits Survey (retrieved via FRED, Federal Reserve Bank of St. Louis), 2024, https://fred.stlouisfed.org/series/CHIC917BPPRIV", "market_context_note": "Demand for electrical trade services in the Chicago metropolitan area is sustained by local regulatory mandates, such as the City Council EV Charging Ordinance passed in September 2023 requiring electric vehicle charging infrastructure in new residential and commercial developments, alongside high ongoing repair and upgrade activity across the city's pre-war housing stock.", "market_context_source": "City of Chicago Department of Buildings, 2023, https://www.chicago.gov/city/en/depts/bldgs.html", "density_source_access": "url", "permit_source_access": "url", "market_context_source_access": "url" }, { "name": "Cincinnati", "where": "OH", "contractor_density_note": "According to the U.S. Bureau of Labor Statistics May 2023 OEWS estimates, the Cincinnati, OH-KY-IN metropolitan statistical area employed 5,430 electricians (SOC 47-2111).", "density_source": "U.S. Bureau of Labor Statistics, 2023, https://www.bls.gov/oes/2023/may/oes_17140.htm", "permit_volume_trend": "Single-family building permits in the Cincinnati MSA increased to 4,250 units for the 12 months ending August 2025, up from 3,925 in the prior 12-month period. Multifamily permitting slightly declined to 2,525 units from 2,650 over the same timeframe.", "permit_source": "U.S. Department of Housing and Urban Development (HUD) / U.S. Census Bureau Building Permits Survey, 2026", "market_context_note": "Electricians represent one of the top five trade occupations in the commercial construction industry across the Cincinnati MSA, accounting for 1,873 commercial construction jobs in 2024.", "market_context_source": "Allied Construction Industries, 2024, https://aci-web.com", "density_source_access": "url", "permit_source_access": "citation-text-only", "market_context_source_access": "url" }, { "name": "Cleveland", "where": "OH", "contractor_density_note": "As of May 2023, the Cleveland-Elyria, OH metropolitan area employed 3,810 electricians (SOC 47-2121), representing an employment concentration location quotient of 0.81 relative to the national average.", "density_source": "U.S. Bureau of Labor Statistics, 2023, https://www.bls.gov/oes/current/oes_17420.htm", "permit_volume_trend": "Building permit activity in the Cleveland-Elyria metro reached 4,175 total housing units permitted over a trailing 12-month period, reflecting a 28.6% year-over-year increase, driven by strong growth in Cuyahoga County (1,601 permits, up 43.2% year-over-year).", "permit_source": "U.S. Census Bureau Building Permits Survey, 2024, https://www.census.gov/construction/bps", "market_context_note": "Electricians in the Cleveland-Elyria MSA earned a mean hourly wage of $31.14 ($64,780 annually) as of May 2023, with electrical trade demand driven by active residential remodeling and commercial building updates across the metropolitan area.", "market_context_source": "U.S. Bureau of Labor Statistics, 2023, https://www.bls.gov/oes/current/oes_17420.htm", "density_source_access": "url", "permit_source_access": "url", "market_context_source_access": "url" }, { "name": "Columbus", "where": "OH", "contractor_density_note": "According to the Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), the Columbus, OH Metropolitan Statistical Area employed 5,390 electricians (SOC 47-2111) as of May 2024, representing an employment density of approximately 4.9 electricians per 1,000 total jobs in the metro area.", "density_source": "U.S. Bureau of Labor Statistics, May 2024 OEWS Estimates for Columbus, OH MSA, 2025, https://www.bls.gov/oes/current/oes18140.htm", "permit_volume_trend": "According to the U.S. Census Bureau Building Permits Survey, building permit activity in the Columbus, OH MSA reached 13,709 authorized units over a trailing 12-month period, marking a 63.7% year-over-year increase driven heavily by multi-family residential construction.", "permit_source": "U.S. Census Bureau, Building Permits Survey, 2025, https://www.census.gov/construction/bps", "market_context_note": "The Columbus MSA construction landscape is anchored by massive regional tech and industrial developments, including Intel's $20 billion semiconductor plant in Licking County, Honda's EV battery manufacturing expansion, and rapid data center construction, driving strong localized demand for commercial and residential electrical trades.", "market_context_source": "City of Columbus, Green Industry and Occupational Employment Study, 2025, https://www.columbus.gov", "density_source_access": "url", "permit_source_access": "url", "market_context_source_access": "url" }, { "name": "Dallas-Fort Worth", "where": "TX", "contractor_density_note": "According to the BLS Occupational Employment and Wage Statistics (OEWS), there were 18,730 employed electricians (SOC 47-2111) in the Dallas-Fort Worth-Arlington, TX metropolitan statistical area as of May 2023, representing an employment density of 4.72 electricians per 1,000 jobs in the metro area.", "density_source": "U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics, 2023, https://www.bls.gov/oes/current/oes_19100.htm", "permit_volume_trend": "New residential building permit volume in the Dallas-Fort Worth-Arlington MSA maintained a high monthly pace between 3,000 and 6,000 authorized housing units per month through 2023 and 2024, maintaining DFW's position as one of the largest building permit markets in the United States.", "permit_source": "U.S. Census Bureau via Federal Reserve Bank of St. Louis (FRED), 2024, https://fred.stlouisfed.org/series/DALL148BPPRIV", "market_context_note": "The City of Dallas Sustainable Development and Construction Department issued 48,134 total building permits and completed 232,424 inspections in 2024 under the 2020 National Electrical Code (NEC), reducing its median residential plan review time to 8 business days (down from 68 days in 2022).", "market_context_source": "City of Dallas Sustainable Development and Construction Department, 2024, https://dallascityhall.com/departments/sustainabledevelopment/buildinginspection", "density_source_access": "url", "permit_source_access": "url", "market_context_source_access": "url" }, { "name": "Denver", "where": "CO", "contractor_density_note": "According to the Bureau of Labor Statistics, the Denver-Aurora-Lakewood, CO metropolitan statistical area employed 9,670 electricians (SOC 47-2111) in May 2023, with a location quotient of 1.30, indicating an electrician workforce concentration 30% higher than the national average.", "density_source": "U.S. Bureau of Labor Statistics, May 2023 OEWS (2024), https://www.bls.gov/oes/2023/may/oes_19740.htm", "permit_volume_trend": "New residential building permits in the Denver-Aurora-Lakewood metro area experienced a downward trend, dropping 21.8% in 2022 to 23,472 authorized units. In the 12 months ending August 2023, single-family sales permits in the Denver submarket dropped 34% year-over-year to 1,175 units, while permitted rental units declined 23% to 7,550 units.", "permit_source": "U.S. Department of Housing and Urban Development, Denver-Aurora-Lakewood, Colorado Comprehensive Housing Market Analysis (2023), https://www.huduser.gov/portal/ushmc/chma_archive.html", "market_context_note": "Between September 2023 and September 2026, the Denver-Aurora-Lakewood metro area is projected to see nonfarm payrolls grow by 2.0% annually, generating demand for 36,100 new sales homes and 30,450 new rental units, supporting ongoing demand for electrical trade installations across suburban and urban developments.", "market_context_source": "U.S. Department of Housing and Urban Development, Denver-Aurora-Lakewood, Colorado Comprehensive Housing Market Analysis (2023), https://www.huduser.gov/portal/ushmc/chma_archive.html", "density_source_access": "url", "permit_source_access": "url", "market_context_source_access": "url" }, { "name": "Detroit", "where": "MI", "contractor_density_note": "According to the U.S. Bureau of Labor Statistics, the Detroit-Warren-Dearborn, MI metropolitan statistical area employed 11,540 electricians (SOC 47-2111) as of May 2023, representing a concentration of 6.08 electricians per 1,000 jobs and a location quotient of 1.29 relative to the national average.", "density_source": "U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS), 2024, https://www.bls.gov/oes/current/oes_19820.htm", "permit_volume_trend": "New private housing structures authorized by building permits in the Detroit-Warren-Dearborn, MI MSA reached 728 units in May 2026, with a trailing 12-month total of 8,825 permitted units, reflecting a modest year-over-year decrease of 2.3%.", "permit_source": "U.S. Census Bureau, Building Permits Survey (retrieved via FRED, Federal Reserve Bank of St. Louis), 2026, https://fred.stlouisfed.org/series/DETR826BPPRIV", "market_context_note": "The Detroit-Warren-Dearborn, MI MSA covers 4.38 million residents with a homeownership rate of 71.2% and a median property value of $249,700 in 2024 (up 5.31% from $237,100 in 2023), sustaining steady demand for residential trade services and system upgrades.", "market_context_source": "DataUSA (U.S. Census Bureau American Community Survey data), 2024, https://datausa.io/profile/geo/detroit-warren-dearborn-mi-msa", "density_source_access": "url", "permit_source_access": "url", "market_context_source_access": "url" }, { "name": "Hartford", "where": "CT", "contractor_density_note": "According to the U.S. Bureau of Labor Statistics May 2023 Occupational Employment and Wage Statistics (OEWS), the Hartford-West Hartford-East Hartford, CT Metropolitan Statistical Area employed 2,470 electricians (SOC 47-2111), representing an employment location quotient of 0.93 relative to the national average, with a mean hourly wage of $34.07 and an annual mean wage of $68,220.", "density_source": "U.S. Bureau of Labor Statistics, 2024, https://www.bls.gov/oes/2023/may/oes_25540.htm", "permit_volume_trend": "According to the U.S. Census Bureau Building Permits Survey, the Hartford-West Hartford-East Hartford, CT metropolitan area authorized 120 residential housing units in May 2026 and 1,270 units over the trailing 12 months (a 79.1% increase compared to May 2025), with multifamily structures (5+ units) representing 59.2% of total permitted units.", "permit_source": "U.S. Census Bureau Building Permits Survey, 2026, https://www.census.gov/construction/bps", "market_context_note": "DataHaven's analysis of Connecticut construction data indicates that the Capitol Region (including Hartford) saw accelerated housing construction between 2020 and 2025, with Hartford adding 2,082 new housing units since 2020. However, persistent housing shortfalls and expanding commercial/industrial electrical modernizations continue to drive trade labor demand in the metro area.", "market_context_source": "DataHaven, 2026, https://ctdatahaven.org", "density_source_access": "url", "permit_source_access": "url", "market_context_source_access": "url" }, { "name": "Houston", "where": "TX", "contractor_density_note": "According to the U.S. Bureau of Labor Statistics, the Houston-The Woodlands-Sugar Land, TX MSA employed 19,600 electricians (SOC 47-2111) in May 2023, representing a density of 6.16 electricians per 1,000 jobs (location quotient of 1.31) and ranking second nationwide among all U.S. metropolitan areas for electrician employment.", "density_source": "U.S. Bureau of Labor Statistics, May 2023 Occupational Employment and Wage Statistics (OEWS), 2024, https://www.bls.gov/oes/current/oes472111.htm", "permit_volume_trend": "The Houston-The Woodlands-Sugar Land, TX metro area authorized 68,755 residential housing units under building permits in 2023 (including 50,444 single-family homes), leading all U.S. metropolitan areas in residential permit activity despite a 9.3% decrease from the 2022 record of 75,786 permitted units. Over the five-year period from 2019 through 2023, the metro authorized 343,779 housing units.", "permit_source": "U.S. Census Bureau Building Permits Survey, reported by Rice University Kinder Institute for Urban Research, 2024", "market_context_note": "Electricians in the Houston-The Woodlands-Sugar Land MSA earned a mean hourly wage of $28.33 and an annual mean wage of $58,920 in May 2023, supported by strong residential and commercial construction growth across the 9-county metropolitan area.", "market_context_source": "U.S. Bureau of Labor Statistics, May 2023 Metropolitan Area Occupational Employment and Wage Estimates (Houston-The Woodlands-Sugar Land, TX), 2024, https://www.bls.gov/oes/current/oes_26420.htm", "density_source_access": "url", "permit_source_access": "citation-text-only", "market_context_source_access": "url" }, { "name": "Indianapolis", "where": "IN", "contractor_density_note": "According to May 2023 BLS OEWS estimates, there were 4,980 employed electricians (SOC 47-2111) in the Indianapolis-Carmel-Anderson, IN MSA, representing an employment density of approximately 4.59 electricians per 1,000 jobs with an annual mean wage of $68,200.", "density_source": "U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics, 2024, https://www.bls.gov/oes/current/oes_26900.htm", "permit_volume_trend": "Single-family building permitting in the Indianapolis-Carmel-Anderson metro increased in 2024 compared to 2022 and 2023, while multifamily permitting slowed relative to its 2022-2023 average of 2,475 units per year. Overall residential activity shifted heavily toward suburban ring counties such as Hamilton and Hendricks.", "permit_source": "U.S. Department of Housing and Urban Development (HUD User) Comprehensive Housing Market Analysis / U.S. Census Bureau Building Permits Survey, 2025", "market_context_note": "Employment for electricians in Indiana is projected to grow 7% through 2034 according to U.S. Department of Labor data. Local electrical contractor licensing in the core metro is regulated by the Indianapolis Department of Business and Neighborhood Services, requiring a $10,000 surety bond and a qualified electrical license holder approved by the Board of Electrical Examiners.", "market_context_source": "Indianapolis Department of Business and Neighborhood Services / U.S. Department of Labor, 2026", "density_source_access": "url", "permit_source_access": "citation-text-only", "market_context_source_access": "citation-text-only" }, { "name": "Jacksonville", "where": "FL", "contractor_density_note": "According to the U.S. Bureau of Labor Statistics, the Jacksonville, FL metropolitan statistical area employed approximately 3,700 Electricians (SOC 47-2111) as of May 2023, representing an employment concentration (location quotient) of 1.06 compared to the national baseline.", "density_source": "U.S. Bureau of Labor Statistics, May 2023 Metropolitan and Nonmetropolitan Area Occupational Employment and Wage Estimates - Jacksonville, FL, 2024, https://www.bls.gov/oes/current/oes_27260.htm", "permit_volume_trend": "According to the U.S. Census Bureau Building Permits Survey, new privately-owned housing units authorized by building permits in the Jacksonville, FL Core-Based Statistical Area (CBSA) totaled 15,002 units in 2024, representing a slight 2.7% decrease from the 15,411 units authorized in 2023.", "permit_source": "U.S. Census Bureau, 2024 Annual Building Permits Survey, 2025, https://www.census.gov/construction/bps", "market_context_note": "According to HBW Construction Data Reports, the Jacksonville region maintained steady residential construction momentum into early 2026, recording 875 new residential permits in April 2026 alone with a total construction valuation of $260.6 million and an average permit valuation of $297,826.", "market_context_source": "HBW Construction Data Reports, Florida Residential Construction Snapshot - April 2026, 2026, https://hbweekly.com", "density_source_access": "url", "permit_source_access": "url", "market_context_source_access": "url" }, { "name": "Kansas City", "where": "MO", "contractor_density_note": "According to the Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), the Kansas City, MO-KS metropolitan area employed 5,090 electricians (SOC 47-2111) with an annual mean wage of $69,020 and a location quotient of 1.01 relative to national density.", "density_source": "U.S. Bureau of Labor Statistics (BLS), May 2023 OEWS Metropolitan and Nonmetropolitan Area Occupational Employment and Wage Estimates - Kansas City, MO-KS (2024), https://www.bls.gov/oes/current/oes_28140.htm", "permit_volume_trend": "In the Kansas City regional metro area, single-family residential building permit volume reached 4,388 units in 2025, representing a slight 3% decrease from 4,509 units in 2024. However, permit issuance rebounded strongly in early 2026, with 2,358 single-family units permitted through May 2026, a 32% increase compared to the first five months of 2025.", "permit_source": "Home Builders Association of Greater Kansas City (KCHBA), Residential Statistics Reports (2026), https://kchba.org", "market_context_note": "While most Missouri municipalities do not issue local trade licenses, Kansas City is one of the primary jurisdictions in the state that enforces local licensing for electrical contractors. Overall electrician employment in Missouri is projected to grow 8% through 2032.", "market_context_source": "Midwest Technical Institute & U.S. Bureau of Labor Statistics, How to Become an Electrician in Missouri (2025), https://www.midwesttech.edu/resources/careers/how-to-become-an-electrician-in-missouri", "density_source_access": "url", "permit_source_access": "url", "market_context_source_access": "url" }, { "name": "Las Vegas", "where": "NV", "contractor_density_note": "According to the Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), the Las Vegas-Henderson-Paradise, NV metropolitan statistical area had 6,070 employed electricians (SOC 47-2111) in May 2023, with an annual mean wage of $69,290 ($33.31 hourly mean).", "density_source": "U.S. Bureau of Labor Statistics (BLS), Occupational Employment and Wage Statistics (OEWS) Survey, May 2023 Metropolitan and Nonmetropolitan Area Occupational Employment and Wage Estimates - Las Vegas-Henderson-Paradise, NV, 2024, https://www.bls.gov/oes/current/oes_29820.htm", "permit_volume_trend": "New private housing units authorized by building permits in the Las Vegas-Henderson-Paradise MSA grew from 13,066 units in 2022 to 13,073 in 2023, 14,754 in 2024, and 14,466 in 2025, reflecting an overall upward trend in metro building permitting volume following a brief dip in 2022.", "permit_source": "U.S. Census Bureau, New Private Housing Structures Authorized by Building Permits for Clark County / Las Vegas-Henderson-Paradise MSA [BPPRIV032003], retrieved from FRED, Federal Reserve Bank of St. Louis, 2026, https://fred.stlouisfed.org/series/BPPRIV032003", "market_context_note": "Strong nonfarm job growth (9.2% above pre-pandemic 2019 levels) and expansion in major master-planned communities like Summerlin in Las Vegas and Cadence in Henderson continue to stimulate regional demand for electrical trade work across both residential sales (33,650 estimated unit demand) and multi-family rental construction.", "market_context_source": "U.S. Department of Housing and Urban Development (HUD), Office of Policy Development and Research, Las Vegas-Henderson-Paradise, Nevada Comprehensive Housing Market Analysis as of January 1, 2024, 2024, https://www.huduser.gov/portal/ushmc/chma_archive.html", "density_source_access": "url", "permit_source_access": "url", "market_context_source_access": "url" }, { "name": "Los Angeles", "where": "CA", "contractor_density_note": "According to the Bureau of Labor Statistics OEWS, there were 19,520 employed Electricians (SOC 47-2111) in the Los Angeles-Long Beach-Anaheim, CA metropolitan statistical area, representing approximately 3.155 electricians per 1,000 jobs in the metro area with a mean annual wage of $83,090.", "density_source": "U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (2023), https://www.bls.gov/oes/current/oes_31080.htm", "permit_volume_trend": "Building permit activity for new private housing structures in the Los Angeles-Long Beach-Anaheim MSA trended downward from 31,295 units in 2022 to 28,735 units in 2023 and 27,242 units in 2024 (an overall decline of ~13% over two years) before stabilizing at 27,513 units in 2025.", "permit_source": "U.S. Census Bureau, Building Permits Survey via FRED, Federal Reserve Bank of St. Louis (2026), https://fred.stlouisfed.org/series/LOSA106BPPRIVSA", "market_context_note": "Single-family housing permitting in the Los Angeles metro area expanded by 23% year-over-year in early 2025, partially supported by accelerated municipal permitting processes to rebuild residential structures following major Los Angeles County wildfires.", "market_context_source": "U.S. Department of Housing and Urban Development (HUD), Comprehensive Housing Market Analysis: Pacific Region (2025)", "density_source_access": "url", "permit_source_access": "url", "market_context_source_access": "citation-text-only" }, { "name": "Louisville", "where": "KY", "contractor_density_note": "According to the U.S. Bureau of Labor Statistics May 2023 Occupational Employment and Wage Statistics (OEWS), there were 3,610 employed electricians (SOC 47-2111) in the Louisville/Jefferson County, KY-IN Metropolitan Statistical Area, representing a location quotient of 1.16 (approximately 5.42 electricians per 1,000 total jobs).", "density_source": "U.S. Bureau of Labor Statistics, May 2023 Metropolitan and Nonmetropolitan Area Occupational Employment and Wage Estimates, 2024, https://www.bls.gov/oes/current/oes_31140.htm", "permit_volume_trend": "New residential construction permitting in Louisville Metro has trended downward in recent years, averaging 1,488 new construction permits annually between 2019 and 2023 compared to 3,613 permits annually between 2014 and 2018, with 1,239 new construction permits issued in 2023.", "permit_source": "Louisville Metro Government, 2024 State of Metropolitan Housing Report, 2024, https://louisvilleky.gov", "market_context_note": "Demand for electrical trade work in the Louisville metro area is supported by significant industrial and logistics infrastructure expansion, such as capital investments at the UPS Worldport hub and Ford Motor Company assembly complexes, alongside a projected 3-year housing market demand for 9,350 new single-family homes and 6,350 rental units.", "market_context_source": "U.S. Department of Housing and Urban Development (HUD), Comprehensive Housing Market Analysis: Louisville, Kentucky-Indiana, 2023, https://www.huduser.gov/portal/ushmc/chma_archive.html", "density_source_access": "url", "permit_source_access": "url", "market_context_source_access": "url" }, { "name": "Memphis", "where": "TN", "contractor_density_note": "According to the U.S. Bureau of Labor Statistics May 2023 OEWS report, the Memphis, TN-MS-AR Metropolitan Statistical Area employs approximately 2,800 Electricians (SOC 47-2111), with an average hourly wage of $27.26 and an annual mean wage of $56,700.", "density_source": "U.S. Bureau of Labor Statistics, 2023, https://www.bls.gov/oes/current/oes_32820.htm", "permit_volume_trend": "Residential building permit and overall housing construction activity in the Memphis, TN-MS-AR metro area moderated following post-2021 peak levels. HUD market data as of mid-2024 indicates a 14% year-over-year decline in home sales, creating a softer residential permitting environment.", "permit_source": "U.S. Department of Housing and Urban Development, 2024, https://www.huduser.gov/portal/ushmc/chma_archive.html", "market_context_note": "Memphis serves as a major national transportation and logistics hub, anchored by FedEx's global air hub, which drives steady trade demand for commercial, industrial, and distribution facility electrical maintenance and high-capacity infrastructure.", "market_context_source": "U.S. Department of Housing and Urban Development, 2024, https://www.huduser.gov/portal/ushmc/chma_archive.html", "density_source_access": "url", "permit_source_access": "url", "market_context_source_access": "url" }, { "name": "Miami", "where": "FL", "contractor_density_note": "According to the U.S. Bureau of Labor Statistics May 2023 Occupational Employment and Wage Statistics (OEWS), the Miami-Fort Lauderdale-West Palm Beach, FL metropolitan statistical area employed 12,400 electricians (SOC 47-2111), representing a density of 4.55 electricians per 1,000 total jobs in the metropolitan area.", "density_source": "U.S. Bureau of Labor Statistics, May 2023 Occupational Employment and Wage Statistics, 2024, https://www.bls.gov/oes/current/oes472111.htm", "permit_volume_trend": "According to U.S. Census Bureau Building Permits Survey data, housing units authorized by building permits in the Miami-Fort Lauderdale-Pompano Beach, FL MSA track ongoing regional residential development across single-family and multi-family construction projects.", "permit_source": "U.S. Census Bureau, New Private Housing Units Authorized by Building Permits for Miami-Fort Lauderdale-Pompano Beach, FL (MSA) [MIAM112BPPRIVSA], retrieved from FRED, Federal Reserve Bank of St. Louis, 2026, https://fred.stlouisfed.org/series/MIAM112BPPRIVSA", "market_context_note": "Demand for electrical contractors in the region is sustained by multi-family commercial buildouts, residential growth, and Florida Building Code enforcement, aligned with national projections showing 9% employment growth for electricians from 2024 to 2034.", "market_context_source": "U.S. Bureau of Labor Statistics, Occupational Outlook Handbook: Electricians, 2025, https://www.bls.gov/ooh/construction-and-extraction/electricians.htm", "density_source_access": "url", "permit_source_access": "url", "market_context_source_access": "url" }, { "name": "Milwaukee", "where": "WI", "contractor_density_note": "In the Milwaukee-Waukesha-West Allis, WI metropolitan statistical area, there were 3,250 employed electricians (SOC 47-2111) as of May 2023, representing a concentration of 3.982 electricians per 1,000 jobs (location quotient of 0.85) and a median hourly wage of $39.01 ($78,170 annual mean wage).", "density_source": "U.S. Bureau of Labor Statistics, May 2023 OEWS Metropolitan and Nonmetropolitan Area Occupational Employment and Wage Estimates for Milwaukee-Waukesha-West Allis, WI, 2024, https://www.bls.gov/oes/current/oes_33340.htm", "permit_volume_trend": "Residential construction permit activity in the Milwaukee-Waukesha-West Allis metro area has been balanced, with unit growth heavily driven by multi-family developments (e.g., 1,183 multi-family units authorized across 19 new apartment developments in the City of Milwaukee in 2023) alongside steady single-family construction across the broader metropolitan area.", "permit_source": "U.S. Department of Housing and Urban Development (HUD USER) / U.S. Census Bureau Building Permits Survey, SOCDS Building Permits Database, 2024, https://www.huduser.gov/portal/datasets/socds.html", "market_context_note": "Electrician employment in Wisconsin is projected to grow by 14% between 2022 and 2032, with an estimated 1,290 annual job openings across the state, classifying the trade as a 'Bright Outlook' occupation.", "market_context_source": "O*NET OnLine / Projections Central 2022-2032 Long-Term Projections for Wisconsin (Electricians SOC 47-2111.00), 2024, https://www.onetonline.org/link/localtrends/47-2111.00?st=WI", "density_source_access": "url", "permit_source_access": "url", "market_context_source_access": "url" }, { "name": "Minneapolis-St. Paul", "where": "MN", "contractor_density_note": "According to the U.S. Bureau of Labor Statistics OEWS, there were 8,110 employed electricians (SOC 47-2111) in the Minneapolis-St. Paul-Bloomington, MN-WI metropolitan statistical area as of May 2024.", "density_source": "U.S. Bureau of Labor Statistics, May 2024 OEWS, https://www.bls.gov/oes/current/oes_33460.htm", "permit_volume_trend": "For the 12 months ending October 2025, single-family building permits in the Minneapolis-St. Paul-Bloomington metro increased 14% year-over-year to 10,500 units (up from 9,200), while multifamily permits rose 22% to 6,550 units (up from 5,350), though multifamily construction remained well below its 2019-2023 annual average of 12,850 units.", "permit_source": "U.S. Department of Housing and Urban Development (HUD User), Housing Market Conditions: Minneapolis-St. Paul-Bloomington, MN-WI, 2025", "market_context_note": "The City of Minneapolis recorded $1.07 billion across 12,000 building permits in 2025, marking 15 consecutive years exceeding $1 billion in annual construction permit valuation. Additionally, BLS May 2024 OEWS data shows mean hourly wages of $41.70 ($86,730 annually) for electricians in the Twin Cities metro area.", "market_context_source": "City of Minneapolis / FOX 9, 2026, https://www.fox9.com/news/minneapolis-announces-15-straight-years-1-billion-construction-permits", "density_source_access": "url", "permit_source_access": "citation-text-only", "market_context_source_access": "url" }, { "name": "Nashville", "where": "TN", "contractor_density_note": "In the Nashville-Davidson--Murfreesboro--Franklin, TN MSA, there were 6,110 employed electricians (SOC 47-2111), representing a location quotient of 1.21 and a density of 5.68 electricians per 1,000 total jobs in the metropolitan area.", "density_source": "U.S. Bureau of Labor Statistics (BLS), Occupational Employment and Wage Statistics (OEWS), 2023, https://www.bls.gov/oes/current/oes_34980.htm", "permit_volume_trend": "The Nashville-Davidson--Murfreesboro--Franklin, TN MSA authorized 17,930 total new private housing units in building permits over the trailing 12-month period, reflecting a 19.0% year-over-year increase and a permitting rate of 8.77 permits per 1,000 residents.", "permit_source": "U.S. Census Bureau, Building Permits Survey (retrieved via FRED, Federal Reserve Bank of St. Louis), 2026, https://fred.stlouisfed.org/series/NASH947BPPRIVSA", "market_context_note": "Demand for electrical contractors and electricians in the metro is driven by high-profile commercial and technology projects (such as Oracle's East Bank campus and Amazon operations), growing data center power infrastructure across Middle Tennessee, and persistent residential expansion into surrounding Wilson, Rutherford, and Williamson counties.", "market_context_source": "SunBeltPulse Market Analysis, 2026, https://sunbeltpulse.com", "density_source_access": "url", "permit_source_access": "url", "market_context_source_access": "url" }, { "name": "New Orleans", "where": "LA", "contractor_density_note": "According to the BLS OEWS, the New Orleans-Metairie, LA MSA had 2,650 employed electricians (SOC 47-2111) as of May 2023, representing a density of 5.153 electricians per 1,000 total jobs in the metropolitan area and a location quotient of 1.10.", "density_source": "U.S. Bureau of Labor Statistics (BLS) OEWS, 2023, https://www.bls.gov/oes/current/oes_35380.htm", "permit_volume_trend": "New private residential housing permits in the New Orleans-Metairie, LA MSA have exhibited a moderating trend in recent years, consistent with regional pullbacks in single-family residential construction permitting influenced by elevated interest rates and elevated local property insurance costs.", "permit_source": "U.S. Census Bureau Building Permits Survey via FRED, Federal Reserve Bank of St. Louis, 2026, https://fred.stlouisfed.org/series/NEWO322BPPRIV", "market_context_note": "An analysis of Orleans Parish permit records from 2018 through 2024 found that resilience and clean energy installations, including nearly 4,000 solar panel permits, whole-home standby generators, and EV chargers, accounted for 18.9% of home adaptation permits, serving as major local demand drivers for electrical contractors.", "market_context_source": "Brookings Institution, 2025", "density_source_access": "url", "permit_source_access": "url", "market_context_source_access": "citation-text-only" }, { "name": "New York", "where": "NY", "contractor_density_note": "In the New York-Newark-Jersey City, NY-NJ-PA metropolitan statistical area, the U.S. Bureau of Labor Statistics reported 39,310 employed electricians (SOC 47-2111), representing a trade density of 4.14 electricians per 1,000 jobs and a location quotient of 0.88.", "density_source": "U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS), 2024, https://www.bls.gov/oes/current/oes472111.htm", "permit_volume_trend": "In the New York-Newark-Jersey City MSA, residential permitting authorized over 54,000 to 58,000 units annually in recent years, driven primarily by multifamily construction (over 80% of total permits), with single-family permits increasing by 11% in 2025 despite temporary pullbacks in high-density multifamily filings.", "permit_source": "U.S. Census Bureau, Building Permits Survey, 2025, https://www.census.gov/construction/bps", "market_context_note": "Demand for electrical contractors across the NYC metropolitan area is heavily influenced by municipal mandates, including Local Law 97 greenhouse gas emission caps driving major commercial electrification and EV infrastructure retrofits, the implementation of the updated 2025 NYC Electrical Code, and revised DOB NOW fee schedules under Local Law 128 of 2024.", "market_context_source": "New York City Department of Buildings, 2025, https://www.nyc.gov/site/buildings/index.page", "density_source_access": "url", "permit_source_access": "url", "market_context_source_access": "url" }, { "name": "Oklahoma City", "where": "OK", "contractor_density_note": "According to U.S. Census Bureau County Business Patterns (CBP) data, there were 402 electrical contracting establishments (NAICS 238210: Electrical Contractors and Other Wiring Installation Contractors) operating in the Oklahoma City metropolitan area. Additionally, U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS) data reported 2,830 employed electricians in the Oklahoma City, OK MSA as of May 2023, with a mean hourly wage of $28.59 and mean annual earnings of $60,890.", "density_source": "U.S. Bureau of Labor Statistics (2024), May 2023 OEWS Metropolitan Estimates, https://www.bls.gov/oes/current/oes_36420.htm; and U.S. Census Bureau 2021 County Business Patterns via Oklahoma City Airport Trust (2023), https://www.flyokc.com", "permit_volume_trend": "Residential building permit and construction activity in the Oklahoma City metropolitan area remained active into 2024, with HUD reporting demand for 19,550 new homes over a 3-year forecast period and 4,250 single-family homes alongside 5,525 multifamily/rental units under construction during the 12 months ending May 2024. Long-term permit volume in Oklahoma County and the surrounding metro has outpaced the rest of the state, doubling over the preceding decade.", "permit_source": "U.S. Department of Housing and Urban Development (HUD User), Comprehensive Housing Market Analysis: Oklahoma City, Oklahoma (2024), https://www.huduser.gov", "market_context_note": "Demand for electrical contractors in the Oklahoma City metro is supported by commercial buildouts, data center developments along the I-35 corridor, industrial growth tied to Tinker Air Force Base, and ongoing residential expansions in surrounding submarkets such as Edmond, Norman, and Deer Creek. Oklahoma City enforces trade compliance under the Oklahoma Uniform Building Code Commission's adoption of the 2023 National Electrical Code (NEC/NFPA 70).", "market_context_source": "City of Oklahoma City Development Services Department (2025), Building & Trade Permits, https://www.okc.gov/departments/development-services", "density_source_access": "url", "permit_source_access": "url", "market_context_source_access": "url" }, { "name": "Orlando", "where": "FL", "contractor_density_note": "As of May 2023, the Orlando-Kissimmee-Sanford, FL Metropolitan Statistical Area employed 6,460 electricians (SOC 47-2111), representing an employment concentration (location quotient) of 1.01 relative to the national average.", "density_source": "U.S. Bureau of Labor Statistics, 2024, https://www.bls.gov/oes/current/oes_36740.htm", "permit_volume_trend": "New private residential housing structures authorized by building permits in the Orlando-Kissimmee-Sanford MSA experienced strong post-pandemic expansion before moderating into 2023 and 2024 amid higher mortgage interest rates.", "permit_source": "U.S. Census Bureau, retrieved from FRED, Federal Reserve Bank of St. Louis, 2024, https://fred.stlouisfed.org/series/ORLA712BPPRIV", "market_context_note": "Nonfarm payroll employment in the Orlando-Kissimmee-Sanford metropolitan area grew by 32,800 jobs (2.3%) during the 12 months ending June 2024, sustaining ongoing demand for residential and commercial electrical installation and maintenance work.", "market_context_source": "U.S. Department of Housing and Urban Development, 2024, https://www.huduser.gov/portal/ushmc/chma_archive.html", "density_source_access": "url", "permit_source_access": "url", "market_context_source_access": "url" }, { "name": "Philadelphia", "where": "PA", "contractor_density_note": "According to BLS Occupational Employment and Wage Statistics, the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD metropolitan statistical area employs 9,590 electricians (SOC 47-2111), representing a density of 3.39 electricians per 1,000 jobs and a location quotient of 0.72 relative to the national average.", "density_source": "U.S. Bureau of Labor Statistics, 2024, https://www.bls.gov/oes/current/oes_37980.htm", "permit_volume_trend": "According to U.S. Census Bureau Building Permits Survey data, residential unit authorizations in Philadelphia County dropped sharply following a 2021 peak of 25,257 units down to 3,223 units in 2022, 3,863 units in 2023, and 2,962 units in 2024, marking a multi-year downturn in new residential building activity across the metro core.", "permit_source": "U.S. Census Bureau via Federal Reserve Bank of St. Louis (FRED), 2026, https://fred.stlouisfed.org/series/BPPRIV042101", "market_context_note": "City municipal permit records show that electrical work represents approximately 160,000 historical permit filings in Philadelphia. Plumbing and electrical permits combined account for more than 45% of all building and zoning permit activity in the city through 2025, driven by continuous infrastructure and wiring upgrades across the metro's aging housing stock.", "market_context_source": "City of Philadelphia Department of Licenses & Inspections via OpenDataPhilly, 2025", "density_source_access": "url", "permit_source_access": "url", "market_context_source_access": "citation-text-only" }, { "name": "Phoenix", "where": "AZ", "contractor_density_note": "According to the Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), the Phoenix-Mesa-Chandler, AZ metropolitan statistical area employed 16,740 electricians (SOC 47-2111) as of May 2024, with an average hourly wage of $29.58 ($61,530 annual mean wage).", "density_source": "U.S. Bureau of Labor Statistics, OEWS May 2024, https://www.bls.gov/oes/current/oes_38060.htm", "permit_volume_trend": "According to the U.S. Census Bureau Building Permits Survey, residential permit authorizations in the Phoenix-Mesa-Chandler, AZ MSA totaled 45,616 units in 2023 and 45,884 units in 2024 (with total authorized construction value reaching $11.12 billion), reflecting a stabilization in overall residential permitting following a peak in multi-family construction during 2022-2023.", "permit_source": "U.S. Census Bureau, Building Permits Survey 2024, https://www.census.gov/construction/bps", "market_context_note": "According to HUD's Comprehensive Housing Market Analysis, the Phoenix MSA added 49,900 nonfarm jobs (2.1% growth) in 2024, with severe industrial and semiconductor infrastructure investments alongside 27,000 multi-family units under construction continuing to drive demand across construction and specialty trade sectors.", "market_context_source": "U.S. Department of Housing and Urban Development, Comprehensive Housing Market Analysis: Phoenix-Mesa-Chandler, Arizona 2025, https://www.huduser.gov/portal/ushmc/chma_archive.html", "density_source_access": "url", "permit_source_access": "url", "market_context_source_access": "url" }, { "name": "Pittsburgh", "where": "PA", "contractor_density_note": "According to the BLS Occupational Employment and Wage Statistics, there were 3,990 employed Electricians (SOC 47-2111) in the Pittsburgh, PA Metropolitan Statistical Area as of May 2023, representing a density of approximately 3.72 electricians per 1,000 jobs in the metro area.", "density_source": "U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS), 2023, https://www.bls.gov/oes/current/oes_38300.htm", "permit_volume_trend": "Residential permitting in the Pittsburgh metro area experienced elevated levels in 2022 and 2023 (averaging 3,975 rental units permitted annually), followed by a pullback. During the 12 months ending April 2024, approximately 3,225 rental units were permitted, a 19% decline from the 3,975 units permitted during the prior 12-month period.", "permit_source": "U.S. Department of Housing and Urban Development (HUD), Office of Policy Development and Research, Comprehensive Housing Market Analysis: Pittsburgh, Pennsylvania, 2024, https://www.huduser.gov/portal/ushmc/chma_archive.html", "market_context_note": "Between 2017 and 2023, municipalities across the Pittsburgh region issued residential building permits totaling only 2.9% of the area's existing housing stock, reflecting historically slow housing expansion and contributing to a 36% increase in regional rents over that seven-year period.", "market_context_source": "Pew Charitable Trusts, 2025, https://www.pewtrusts.org/en/research-and-analysis/articles/2025/03/12/fewer-building-permits-in-pennsylvania-mean-higher-rents", "density_source_access": "url", "permit_source_access": "url", "market_context_source_access": "url" }, { "name": "Portland", "where": "OR", "contractor_density_note": "According to the U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics, the Portland-Vancouver-Hillsboro, OR-WA MSA employed an estimated 6,770 electricians (SOC 47-2111) as of May 2023, representing a density of 5.61 electricians per 1,000 jobs in the metro area.", "density_source": "U.S. Bureau of Labor Statistics, 2024, https://www.bls.gov/oes/current/oes472111.htm", "permit_volume_trend": "According to HUD PD&R regional housing data, single-family residential building permitting in the Oregon portion of the Portland-Vancouver-Hillsboro metro area stabilized with a 5% year-over-year increase in Q1 2025 (1,669 units permitted compared to 1,660 in Q1 2024), following a broader regional slowdown in 2023 when total authorized residential units stood at 10,891.", "permit_source": "U.S. Department of Housing and Urban Development PD&R, 2025", "market_context_note": "According to the Columbia-Willamette Workforce Collaborative 2025 Construction Labor Market Report, construction contributed $13.2 billion to the Portland-Vancouver Metro Area GDP in 2024 and represented nearly 7% of private employment. The regional trade industry is projected to add over 10,400 jobs (+11%) over the next decade, with public infrastructure spending pacing growth while apprenticeship completion rates for electricians remain below regional demand.", "market_context_source": "Columbia-Willamette Workforce Collaborative, 2025", "density_source_access": "url", "permit_source_access": "citation-text-only", "market_context_source_access": "citation-text-only" }, { "name": "Providence", "where": "RI", "contractor_density_note": "According to May 2023 BLS data, the Providence-Warwick, RI-MA Metropolitan Statistical Area employed approximately 2,350 electricians (SOC 47-2111), with a location quotient of 1.03 relative to national occupational concentration.", "density_source": "U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/current/oes_39300.htm", "permit_volume_trend": "Residential permitting activity in the Providence-Warwick, RI-MA MSA remains constrained relative to national rates, authorizing approximately 3.6 housing units per 1,000 existing homes in 2024, with multi-family structures accounting for 48.9% of newly authorized units.", "permit_source": "U.S. Census Bureau, Building Permits Survey, 2024, https://www.census.gov/construction/bps", "market_context_note": "Demand for electrical trade services in the Providence metro is substantially driven by aging housing stock needing modernization and rewiring; for instance, in Warwick (a core municipality in the MSA), over 55% of owner-occupied housing units were built prior to 1959.", "market_context_source": "City of Warwick Planning Department, Housing Element Report, 2025, https://www.warwickri.gov", "density_source_access": "url", "permit_source_access": "url", "market_context_source_access": "url" }, { "name": "Raleigh", "where": "NC", "contractor_density_note": "According to the U.S. Bureau of Labor Statistics, the Raleigh-Cary, NC Metropolitan Statistical Area employed approximately 3,790 electricians (SOC Code 47-2111) as of May 2024.", "density_source": "U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), 2024, https://www.bls.gov/oes/current/oes_39580.htm", "permit_volume_trend": "Residential building permit activity in the Raleigh-Cary MSA has accelerated, reaching 18,206 residential units permitted over a trailing 12-month period as of early 2026 (a 15.5% year-over-year increase), placing the metro at 12.81 permits per 1,000 residents, one of the highest per-capita build pipelines in the country.", "permit_source": "U.S. Census Bureau Building Permits Survey, 2026, https://www.census.gov/construction/bps", "market_context_note": "Electricians in the Raleigh-Cary metro earned an average annual wage of $55,810 ($26.83 per hour) as of May 2024. Occupational projections from the North Carolina Department of Commerce project statewide electrician employment to expand by 17% to 18.5% between 2020 and 2030, driven by sustained population growth across Wake, Johnston, and Franklin counties.", "market_context_source": "U.S. Bureau of Labor Statistics & North Carolina Department of Commerce, 2024, https://www.bls.gov/oes/current/oes472111.htm", "density_source_access": "url", "permit_source_access": "url", "market_context_source_access": "url" }, { "name": "Richmond", "where": "VA", "contractor_density_note": "According to the Bureau of Labor Statistics, the Richmond, VA Metropolitan Statistical Area employed 3,430 electricians (SOC 47-2111) as of May 2023, representing a location quotient of 1.13 and an occupational density of 5.303 electricians per 1,000 jobs.", "density_source": "U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS), 2023, https://www.bls.gov/oes/current/oes_40060.htm", "permit_volume_trend": "Residential construction permitting in the Richmond metro area trended downward in 2023 and 2024 following nationwide building slowdowns, with projected housing unit authorizations moderating to roughly 58 units permitted per 10,000 residents in 2024.", "permit_source": "U.S. Census Bureau, Building Permits Survey (analyzed by Axios Richmond), 2024, https://www.axios.com/local/richmond/2024/08/12/housing-permits-decline-richmond-virginia", "market_context_note": "Long-term regional demand for electrical construction in the Richmond Housing Market Area is driven by structural housing deficits, with HUD forecasting multi-year demand for 8,125 new rental units and 13,625 new for-sale residential homes across the metro.", "market_context_source": "U.S. Department of Housing and Urban Development (HUD), Comprehensive Housing Market Analysis: Richmond, Virginia, 2022, https://www.huduser.gov/portal/ushmc/chma_archive.html", "density_source_access": "url", "permit_source_access": "url", "market_context_source_access": "url" }, { "name": "Riverside-San Bernardino", "where": "CA", "contractor_density_note": "As of May 2023, the Riverside-San Bernardino-Ontario, CA metropolitan statistical area employed 8,130 electricians (SOC 47-2111), with an average hourly wage of $36.71 and an annual mean wage of $76,350.", "density_source": "U.S. Bureau of Labor Statistics, 2023 Occupational Employment and Wage Statistics (OEWS), https://www.bls.gov/oes/current/oes_40140.htm", "permit_volume_trend": "In 2022, the Riverside-San Bernardino-Ontario MSA authorized 16,320 new residential building permits, representing a 4.6% increase from 2021 and total authorized residential permit valuation of $3.9 billion.", "permit_source": "U.S. Census Bureau, 2022 Building Permits Survey, https://www.census.gov/construction/bps", "market_context_note": "The Riverside-San Bernardino-Ontario housing market area benefits from strong population growth and high demand in the transportation, logistics, and warehousing sectors, driving ongoing commercial, industrial, and residential electrical construction needs.", "market_context_source": "U.S. Department of Housing and Urban Development, 2022 Comprehensive Housing Market Analysis: Riverside-San Bernardino-Ontario, California, https://www.huduser.gov/portal/ushmc/chma_archive.html", "density_source_access": "url", "permit_source_access": "url", "market_context_source_access": "url" }, { "name": "Sacramento", "where": "CA", "contractor_density_note": "According to the BLS May 2023 Occupational Employment and Wage Statistics, the Sacramento-Roseville-Arden-Arcade, CA MSA employed approximately 5,550 electricians (SOC 47-2111), representing a concentration of 5.29 electricians per 1,000 total jobs in the metropolitan area (location quotient of 1.13).", "density_source": "U.S. Bureau of Labor Statistics, 2023 Occupational Employment and Wage Statistics (OEWS), released April 2024, https://www.bls.gov/oes/current/oes_40900.htm", "permit_volume_trend": "According to the U.S. Census Bureau Building Permits Survey, new residential housing unit authorizations in the Sacramento-Roseville-Folsom, CA MSA reached 10,042 units over the 12-month trailing period ending May 2026, up 14% year-over-year for the month to 1,094 units. Multifamily unit authorizations held steady near 1,883 units annually.", "permit_source": "U.S. Census Bureau, Building Permits Survey (retrieved via Federal Reserve Bank of St. Louis FRED, 2026), https://fred.stlouisfed.org/series/SACR906BP1FH", "market_context_note": "Residential electrical work in Sacramento is actively driven by local grid decarbonization initiatives, including the Sacramento Municipal Utility District (SMUD) Go Electric Bonus Package, which offers up to $2,000 in rebates for residential electrical panel upgrades and associated high-voltage circuit installations.", "market_context_source": "Sacramento Municipal Utility District (SMUD), 2026 Go Electric Residential Rebate Program", "density_source_access": "url", "permit_source_access": "url", "market_context_source_access": "citation-text-only" }, { "name": "Salt Lake City", "where": "UT", "contractor_density_note": "According to May 2023 BLS OEWS data, the Salt Lake City, UT Metropolitan Statistical Area employed 5,520 electricians (SOC 47-2111) with a location quotient of 1.46, indicating a significantly higher concentration of electrical trade workers relative to the national average.", "density_source": "U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS), 2023, https://www.bls.gov/oes/current/oes_41620.htm", "permit_volume_trend": "After peaking at record high levels in 2021 (over 39,000 authorized units statewide), residential building permit volume in Utah and the Salt Lake City metro area declined roughly 35% through 2023 (down to 25,361 units statewide), continuing a moderated trend into 2024 driven by elevated interest rates and high construction costs.", "permit_source": "U.S. Census Bureau Building Permits Survey & University of Utah Kem C. Gardner Policy Institute, 2024, https://gardner.utah.edu", "market_context_note": "Utah led the nation in housing unit percentage growth (2.5% annual growth) for three consecutive years through 2023, with Salt Lake County contributing over 25% of all new housing units statewide due to high-density multifamily and commercial construction in the region.", "market_context_source": "University of Utah Kem C. Gardner Policy Institute, 2024, https://gardner.utah.edu", "density_source_access": "url", "permit_source_access": "url", "market_context_source_access": "url" }, { "name": "San Antonio", "where": "TX", "contractor_density_note": "According to the Bureau of Labor Statistics May 2023 Occupational Employment and Wage Statistics (OEWS) survey, there were 5,670 electricians (SOC 47-2111) employed in the San Antonio-New Braunfels, TX metropolitan area, earning a mean hourly wage of $26.23 and an annual mean wage of $54,570.", "density_source": "U.S. Bureau of Labor Statistics, May 2023 OEWS Metropolitan Area Estimates, https://www.bls.gov/oes/current/oes_41700.htm", "permit_volume_trend": "Construction activity in the San Antonio metropolitan area remains high-volume, with 14,857 new residential units authorized in 2024 according to U.S. Census Bureau data, placing San Antonio 20th among major U.S. metropolitan areas and 4th in Texas for residential permit volume.", "permit_source": "U.S. Census Bureau, Building Permits Survey 2024 (reported by CultureMap San Antonio, 2026)", "market_context_note": "Electricians (SOC 47-2111) are designated as a high-demand target occupation across the San Antonio-New Braunfels metro area and the 13-county Alamo region, driven by continuous population expansion, military infrastructure projects at Joint Base San Antonio, commercial healthcare corridor expansions, and manufacturing developments.", "market_context_source": "Workforce Solutions Alamo, Strategic Local Plan 2024, https://www.workforcesolutionsalamo.org", "density_source_access": "url", "permit_source_access": "citation-text-only", "market_context_source_access": "url" }, { "name": "San Diego", "where": "CA", "contractor_density_note": "According to U.S. Census Bureau County Business Patterns (CBP) data compiled by the San Diego Association of Governments (SANDAG), there were 835 active electrical contractor establishments (NAICS 238210) in San Diego County. Additionally, U.S. Bureau of Labor Statistics OEWS data reported approximately 7,600 employed electricians in the San Diego-Carlsbad metro area.", "density_source": "San Diego Association of Governments (SANDAG), 2024", "permit_volume_trend": "Residential building permit volume in the San Diego metro area has trended upward in recent years. Local permitting offices authorized 4,422 new housing units in 2022, which grew to 5,765 units in 2023 (+30.4%) and expanded further to 6,615 units in 2024 (+14.7%).", "permit_source": "U.S. Census Bureau, Building Permits Survey (BPS), 2024, https://www.census.gov/construction/bps", "market_context_note": "Demand for electrical contractors in San Diego is heavily driven by high-density housing/ADU construction, EV charging infrastructure, and solar photovoltaic adoption. Electricians in the San Diego-Carlsbad metro earn a median wage of $86,724 per year ($41.69/hour), reflecting high local labor demand and cost-of-living adjustments.", "market_context_source": "U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS), 2024, https://www.bls.gov/oes", "density_source_access": "citation-text-only", "permit_source_access": "url", "market_context_source_access": "url" }, { "name": "San Francisco", "where": "CA", "contractor_density_note": "The San Francisco-Oakland-Hayward, CA Metropolitan Statistical Area employed 10,500 electricians in May 2023, representing a density of approximately 4.34 electricians per 1,000 jobs in the metro area (location quotient of 0.92).", "density_source": "U.S. Bureau of Labor Statistics, May 2023 Occupational Employment and Wage Statistics (OEWS), https://www.bls.gov/oes/current/oes472111.htm", "permit_volume_trend": "New residential building permits in San Francisco showed a sharp downward trend from 2021 through 2024, dropping from 2,519 authorized housing units in 2021 to 2,044 in 2022, 1,136 in 2023, and 770 in 2024.", "permit_source": "U.S. Census Bureau via Federal Reserve Bank of St. Louis (FRED), 2024, https://fred.stlouisfed.org/series/BPPRIV006075", "market_context_note": "Electricians in the San Francisco-Oakland-Hayward, CA MSA earned an hourly mean wage of $49.15 and an annual mean wage of $102,230 in May 2023, making the region one of the top-paying metropolitan areas for electricians in the United States.", "market_context_source": "U.S. Bureau of Labor Statistics, May 2023 Occupational Employment and Wage Statistics (OEWS), https://www.bls.gov/oes/current/oes472111.htm", "density_source_access": "url", "permit_source_access": "url", "market_context_source_access": "url" }, { "name": "San Jose", "where": "CA", "contractor_density_note": "According to the U.S. Bureau of Labor Statistics, the San Jose-Sunnyvale-Santa Clara, CA MSA employed 5,110 electricians (SOC 47-2111) as of May 2023, representing a density of 4.47 electricians per 1,000 total jobs in the metropolitan area.", "density_source": "U.S. Bureau of Labor Statistics, 2023, https://www.bls.gov/oes/current/oes472111.htm", "permit_volume_trend": "Residential building permit volume in the San Jose-Sunnyvale-Santa Clara MSA saw a significant decline of 68% between July 2020 and July 2025 (dropping from 1,949 total permitted units to 623 units), driven by a 74% reduction in multi-family housing authorizations.", "permit_source": "U.S. Census Bureau, Building Permits Survey, 2025, https://www.census.gov/construction/bps", "market_context_note": "A HUD Comprehensive Housing Market Analysis for San Jose-Sunnyvale-Santa Clara as of December 2024 reported 8,400 rental units and 1,025 home sales units under construction, with a 3-year demand forecast of 12,050 new rental units and 7,900 sales homes, maintaining significant demand for electrical trade installation and retrofits.", "market_context_source": "U.S. Department of Housing and Urban Development, 2024, https://www.huduser.gov/portal/ushmc/chma_archive.html", "density_source_access": "url", "permit_source_access": "url", "market_context_source_access": "url" }, { "name": "Seattle", "where": "WA", "contractor_density_note": "As of May 2023, the Seattle-Tacoma-Bellevue, WA MSA employed approximately 9,710 electricians (SOC 47-2111), representing a density of 4.67 electricians per 1,000 jobs and a location quotient of 1.00 relative to the national average.", "density_source": "U.S. Bureau of Labor Statistics, May 2023 Occupational Employment and Wage Statistics (OEWS), https://www.bls.gov/oes/current/oes_42660.htm", "permit_volume_trend": "Residential building permit activity in the Seattle-Tacoma-Bellevue MSA experienced a downward trend following post-pandemic highs, declining 12.8% in 2022 to 26,820 authorized units and continuing to cool in 2023 with 17,920 housing units permitted.", "permit_source": "U.S. Census Bureau, Building Permits Survey (2022-2023), https://www.census.gov/construction/bps", "market_context_note": "Electrical contracting demand in the Seattle metro area is driven by sustained high-density residential and commercial infrastructure developments as well as strict state regulations under the Washington State Energy Code requiring increased building electrification and energy efficiency.", "market_context_source": "Building Industry Association of Washington (BIAW), 2024 Housing and Permit Analysis, https://www.biaw.com", "density_source_access": "url", "permit_source_access": "url", "market_context_source_access": "url" }, { "name": "St. Louis", "where": "MO", "contractor_density_note": "As of May 2023, the U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) survey reported 6,110 employed Electricians (SOC 47-2111) in the St. Louis, MO-IL metropolitan statistical area, representing an employment density of approximately 4.61 electricians per 1,000 jobs.", "density_source": "U.S. Bureau of Labor Statistics, May 2023 Metropolitan and Nonmetropolitan Area Occupational Employment and Wage Estimates: St. Louis, MO-IL, 2024, https://www.bls.gov/oes/current/oes_42182.htm", "permit_volume_trend": "According to U.S. Census Bureau Building Permits Survey data, residential building permit issuance in the St. Louis, MO-IL metropolitan area trended downward from 5,834 total authorized housing units in 2024 to 5,417 total units in 2025 (including 3,530 single-family permits), reflecting a broader multi-year decline in regional residential construction authorizations.", "permit_source": "U.S. Census Bureau Building Permits Survey, 2026, https://www.census.gov/construction/bps", "market_context_note": "Municipalities within the St. Louis metropolitan area, including the independent City of St. Louis and St. Louis County, enforce separate trade permitting and local licensing systems (such as City Ordinance 70802 and St. Louis County Chapter 1100), requiring independent electrical permits and inspections distinct from general structural building permits.", "market_context_source": "City of St. Louis Building Division, Building Permit Application & Trade Requirements, 2026", "density_source_access": "url", "permit_source_access": "url", "market_context_source_access": "citation-text-only" }, { "name": "Tampa", "where": "FL", "contractor_density_note": "According to the U.S. Bureau of Labor Statistics, the Tampa-St. Petersburg-Clearwater, FL MSA employed 7,630 electricians (SOC 47-2111) in May 2023, representing an employment concentration of 5.399 per 1,000 jobs and a location quotient of 1.15.", "density_source": "U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS), May 2023, https://www.bls.gov/oes/current/oes_45300.htm", "permit_volume_trend": "Single-family building permits in the Tampa MSA peaked in 2021 at 19,305 units before adjusting downward in 2022 to 15,678 units. Across the broader 8-county Tampa Bay region, total residential permitted units reached 55,085 in 2023, representing a 27% increase compared to 2019 levels.", "permit_source": "Plan Hillsborough / HUD SOCDS Building Permits Database, 2024, https://planhillsborough.org", "market_context_note": "In January and February 2026, Tampa issued 3,031 new residential building permits and recorded 1,193 new-construction home sales, ranking 11th nationwide among major U.S. cities for new home construction and sales activity.", "market_context_source": "Business Observer (ConsumerAffairs / U.S. Census Bureau Data), 2026, https://www.businessobserverfl.com", "density_source_access": "url", "permit_source_access": "url", "market_context_source_access": "url" }, { "name": "Virginia Beach", "where": "VA", "contractor_density_note": "According to the U.S. Bureau of Labor Statistics (BLS) May 2024 Occupational Employment and Wage Statistics (OEWS), the Virginia Beach-Chesapeake-Norfolk, VA-NC metropolitan statistical area employs approximately 6,260 electricians (SOC 47-2111), with an hourly mean wage of $29.26 and an annual mean wage of $60,850.", "density_source": "U.S. Bureau of Labor Statistics, May 2024 Occupational Employment and Wage Statistics, 2024, https://www.bls.gov/oes", "permit_volume_trend": "According to U.S. Census Bureau Building Permits Survey data (retrieved via FRED, St. Louis Fed) and analysis from Old Dominion University's Dragas Center for Economic Analysis and Policy, total residential building permits authorized in the Virginia Beach-Norfolk-Newport News MSA experienced a mild pullback following post-2020 recovery peaks, with single-family building permit volume stabilizing in the range of roughly 3,500 to 4,500 units annually.", "permit_source": "U.S. Census Bureau, New Private Housing Units Authorized by Building Permits for Virginia Beach-Norfolk-Newport News, VA-NC (MSA) [VIRG251BPPRIV], retrieved from FRED, Federal Reserve Bank of St. Louis, 2024, https://fred.stlouisfed.org/series/VIRG251BPPRIV", "market_context_note": "According to the U.S. Department of Housing and Urban Development (HUD) Comprehensive Housing Market Analysis, the Virginia Beach-Norfolk-Newport News housing market area exhibits ongoing baseline demand for electrical and specialty construction trades, with a forecasted demand for 11,000 new sales homes and 6,175 rental units through late 2027, driven by regional nonfarm payroll growth (+2.0% year-over-year) and heavy military/defense infrastructure investment.", "market_context_source": "U.S. Department of Housing and Urban Development, Comprehensive Housing Market Analysis: Virginia Beach-Norfolk-Newport News, Virginia-North Carolina, 2024, https://www.huduser.gov/portal/ushmc/chma_archive.html", "density_source_access": "url", "permit_source_access": "url", "market_context_source_access": "url" }, { "name": "Washington DC", "where": "DC", "contractor_density_note": "According to the U.S. Bureau of Labor Statistics, the Washington-Arlington-Alexandria, DC-VA-MD-WV metropolitan area employed 14,850 electricians (SOC 47-2111), representing a density of 4.80 electricians per 1,000 total jobs in the metropolitan area.", "density_source": "U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS), 2024, https://www.bls.gov/oes/current/oes472111.htm", "permit_volume_trend": "In 2023, the Washington-Arlington-Alexandria metro authorized 23,493 total housing units according to the U.S. Census Bureau. Recent data through 2024 reflects a cooling trend in overall residential permitting, led by a 35.0% decline in multi-family unit authorizations (down to 9,680 units) despite a modest 3.3% increase in single-family permit approvals.", "permit_source": "U.S. Census Bureau Building Permits Survey, 2024, https://www.census.gov/construction/bps", "market_context_note": "Long-term trade demand in the Washington DC metro is driven by regional energy transition regulations, such as Building Energy Performance Standards (BEPS) in the District of Columbia and Maryland, and expanding commercial infrastructure. Nationwide employment for electricians is projected to grow 9% from 2024 to 2034, driven by electrical grid modernization and facility electrification.", "market_context_source": "U.S. Bureau of Labor Statistics (BLS) Occupational Outlook Handbook, 2025, https://www.bls.gov/ooh/construction-and-extraction/electricians.htm", "density_source_access": "url", "permit_source_access": "url", "market_context_source_access": "url" } ] }, "market_structure": { "permits": [ { "trade_category": "Electrical", "permit_year": "2022", "permits": "2605462", "contractors": "96996", "p25_job_value": "1011.0", "median_job_value": "5236.0", "p75_job_value": "31025.0", "p90_job_value": "161897.0" }, { "trade_category": "Electrical", "permit_year": "2023", "permits": "2771860", "contractors": "94178", "p25_job_value": "1059.0", "median_job_value": "5791.0", "p75_job_value": "34990.0", "p90_job_value": "202791.0" }, { "trade_category": "Electrical", "permit_year": "2024", "permits": "1680285", "contractors": "86411", "p25_job_value": "1165.0", "median_job_value": "6481.0", "p75_job_value": "39701.0", "p90_job_value": "217184.0" } ], "seasonality": [ { "trade_category": "Electrical", "permit_month": "01", "permits": "213830", "avg_value": "209534.0" }, { "trade_category": "Electrical", "permit_month": "02", "permits": "199945", "avg_value": "148412.0" }, { "trade_category": "Electrical", "permit_month": "03", "permits": "238895", "avg_value": "183295.0" }, { "trade_category": "Electrical", "permit_month": "04", "permits": "219450", "avg_value": "138164.0" }, { "trade_category": "Electrical", "permit_month": "05", "permits": "256531", "avg_value": "214216.0" }, { "trade_category": "Electrical", "permit_month": "06", "permits": "234489", "avg_value": "229022.0" }, { "trade_category": "Electrical", "permit_month": "07", "permits": "205726", "avg_value": "258507.0" }, { "trade_category": "Electrical", "permit_month": "08", "permits": "256729", "avg_value": "184505.0" }, { "trade_category": "Electrical", "permit_month": "09", "permits": "216724", "avg_value": "209746.0" }, { "trade_category": "Electrical", "permit_month": "10", "permits": "261438", "avg_value": "159807.0" }, { "trade_category": "Electrical", "permit_month": "11", "permits": "244489", "avg_value": "271721.0" }, { "trade_category": "Electrical", "permit_month": "12", "permits": "223614", "avg_value": "351798.0" } ], "size_tiers": [ { "trade_category": "Electrical", "size_tier": "Micro (5-19)", "contractors": "58640", "avg_total_value_m": "1.59" }, { "trade_category": "Electrical", "size_tier": "Small (20-99)", "contractors": "30856", "avg_total_value_m": "6.84" }, { "trade_category": "Electrical", "size_tier": "Mid (100-499)", "contractors": "8715", "avg_total_value_m": "25.15" }, { "trade_category": "Electrical", "size_tier": "Large (500+)", "contractors": "1988", "avg_total_value_m": "202.03" } ], "top_states": [ { "trade_category": "Electrical", "state": "FL", "permits": "985556", "contractors": "29157", "median_job_value": "3920.0" }, { "trade_category": "Electrical", "state": "CA", "permits": "825587", "contractors": "33638", "median_job_value": "3924.0" }, { "trade_category": "Electrical", "state": "TX", "permits": "512684", "contractors": "17555", "median_job_value": "5702.0" }, { "trade_category": "Electrical", "state": "WA", "permits": "503744", "contractors": "5834", "median_job_value": "5291.0" }, { "trade_category": "Electrical", "state": "OR", "permits": "427142", "contractors": "6672", "median_job_value": "840.0" }, { "trade_category": "Electrical", "state": "NC", "permits": "425034", "contractors": "15650", "median_job_value": "8932.0" }, { "trade_category": "Electrical", "state": "IL", "permits": "351479", "contractors": "5969", "median_job_value": "2138.0" }, { "trade_category": "Electrical", "state": "MN", "permits": "319998", "contractors": "4180", "median_job_value": "8286.0" }, { "trade_category": "Electrical", "state": "MA", "permits": "286249", "contractors": "10709", "median_job_value": "9015.0" }, { "trade_category": "Electrical", "state": "CO", "permits": "259563", "contractors": "5393", "median_job_value": "7487.0" } ] }, "reputation": { "available": true, "source": "Public business-review listings (aggregated April 2026). Aggregate only; no individual business identified.", "n_businesses": 12534, "avg_rating": 4.19, "rating_p25": 3.7, "rating_median": 4.6, "rating_p75": 5, "avg_reviews": 18.35, "reviews_median": 6, "reviews_p90": 39, "claimed_pct": 74.5, "closed_pct": 3.8, "top_states": [ { "state": "CA", "n": 3533 }, { "state": "FL", "n": 929 }, { "state": "TX", "n": 912 }, { "state": "WA", "n": 504 }, { "state": "NY", "n": 486 } ], "source_access": "citation-text-only" }, "firmographics": { "available": true, "source": "Aggregated public business firmographic records (multi-source SMB dataset). Revenue/employee/age/employer-rating distributions per trade. Aggregate only; no individual company identified.", "n_companies": 982, "revenue_usd": { "n": 322, "p25": 6200000, "median": 10296892, "p75": 25421151, "p90": 52333015 }, "employees": { "n": 165, "p25": 35, "median": 59, "p75": 103, "p90": 250 }, "founded_year_median": 2007, "employer_rating_avg": 3.84, "employer_rating_n": 162, "top_states": [], "source_access": "citation-text-only" }, "level_published": { "slug": "electrical", "trade": "Electrical", "page": "https://levelcfo.com/benchmarks/electrical/", "public_company_comps": [ "IES Holdings (IESC)", "EMCOR (EME)" ], "benchmarks": [ { "tier": "A", "metric": "Public electrical field-contracting gross margin", "value": "~20%", "detail": "IES Holdings (IESC) Commercial & Industrial segment 20.3% FY2025. The consolidated 25.5% is higher only because it blends in switchgear/power-equipment manufacturing (34.4% gross), which is not field electrical work.", "source": "SEC 10-K filing (IESC)", "url": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001048268&type=10-K", "source_access": "citation-text-only" }, { "tier": "A", "metric": "Electrician median wage (SOC 47-2111)", "value": "$62,350/yr", "detail": "Median hourly $29.98; 10th pct $39,430, 90th $106,030. One of the largest construction trades by headcount.", "source": "BLS OEWS, May 2024", "url": "https://www.bls.gov/ooh/construction-and-extraction/electricians.htm", "source_access": "citation-text-only" }, { "tier": "A", "metric": "Diversified MEP operating margin (EMCOR)", "value": "operating ~10%", "detail": "EMCOR's consolidated operating margin ~10.1%, FY2025 (EMCOR is a large diversified mechanical and electrical contractor).", "source": "SEC 10-K filing (EME) FY2025", "url": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000105634&type=10-K", "source_access": "citation-text-only" }, { "tier": "B", "metric": "All-contractor net profit before tax", "value": "6.3% (top quartile ~11.9%)", "detail": "The reality-check on what a healthy contractor nets.", "source": "CFMA 2024 Construction Financial Benchmarker (n=1,290)", "url": "https://cfma.org/benchmarker", "source_access": "citation-text-only" }, { "tier": "B", "metric": "Job-level gross margin spread, all trades", "value": "44.3% median, 28.4% bottom quartile", "detail": "Measured across 1,747,089 completed jobs, all trades pooled rather than electrical-specific. The spread inside a single company is usually wider than the gap between trades, which is why a blended trade average tells you less than your own job distribution.", "source": "The Level Index (n=1,747,089 completed jobs)", "url": "https://levelcfo.com/benchmarks/contractor/", "source_access": "citation-text-only" } ], "key_stat": { "value": "20.3%", "label": "field electrical-contracting gross margin, IES Holdings C&I segment (FY2025 10-K); consolidated 25.5% blends in power-equipment manufacturing" }, "hero_stats": [ { "value": "20.3%", "caption": "Gross margin (field)", "label": "IES C&I segment, FY2025; consolidated 25.5% blends in manufacturing" }, { "value": "$62,350", "caption": "Median electrician wage", "label": "BLS OEWS, SOC 47-2111, May 2024" }, { "value": "6.3%", "caption": "Net margin (before tax)", "label": "all-contractor, CFMA; top quartile ~11.9%" }, { "value": "742,580", "caption": "Electricians employed", "label": "US, one of the largest trades (BLS)" } ], "segment_reads": { "title": "What the public electrical contractors actually earn", "note": "n/d = not disclosed at that cut. IES segment operating margins exclude ~$52M unallocated corporate SG&A, so they slightly overstate fully-loaded segment profitability. Gross margins are clean.", "rows": [ { "company": "IES Holdings (IESC)", "scope": "Commercial & Industrial segment, FY2025", "gross": "20.3%", "operating": "11.0%", "net": "n/d", "note": "The traditional commercial electrical-CONTRACTING read, the thinnest segment." }, { "company": "IES Holdings (IESC)", "scope": "Communications segment, FY2025", "gross": "23.2%", "operating": "14.6%", "net": "n/d", "note": "Data-center / network install, riding data-center demand." }, { "company": "IES Holdings (IESC)", "scope": "Infrastructure Solutions segment, FY2025", "gross": "34.4%", "operating": "23.8%", "net": "n/d", "note": "NOT field electrical: engineered power products / switchgear MANUFACTURING." }, { "company": "EMCOR (EME)", "scope": "US Electrical Construction segment, FY2025", "gross": "n/d", "operating": "12.1%", "net": "n/d", "note": "Large diversified electrical construction arm." } ] }, "true_margin_bridge": { "headline": "The service call looked like a 50% margin. After the fully-burdened electrician and the truck, it is closer to 28%.", "method": "Reproduce it on your own book: start from the quoted gross margin, subtract the fully-burdened electrician hours (BLS SOC 47-2111 median $29.98/hr times about 1.3 for taxes, workers' comp, and benefits), then the truck, drive, and dispatch time the job never gets charged for, then the callback rate on that job type. The gap between the quoted margin and what lands is where service work quietly loses margin on jobs that look profitable on the invoice.", "chart": { "title": "Where a residential electrical service call's apparent margin goes", "unit": "%", "sample": "Level analysis; labor anchored to BLS SOC 47-2111 wage + statutory burden", "points": [ { "name": "Apparent gross margin", "value": 50 }, { "name": "Less fully-burdened electrician", "value": 39 }, { "name": "Less truck / drive / dispatch", "value": 33 }, { "name": "True margin after callback", "value": 28 } ] } }, "findings": [ { "headline": "Field electrical work is the thin end of a public electrical company; the fat margin is manufacturing.", "insight": "IES reports four segments. The two that are actual field electrical contracting, Commercial & Industrial (11.0% operating) and Residential (8.0% operating), sit at the bottom; Residential is the thinnest on operating margin, C&I the thinnest on gross (20.3%). The eye-popping 23.8% is Infrastructure Solutions, which is engineered power-products and switchgear manufacturing, not field work. So the headline 25.5% company margin is propped up by non-contracting businesses. Read the segment, not the blend.", "source": "IES Holdings FY2025 10-K", "url": "https://www.sec.gov/Archives/edgar/data/1048268/000104826825000174/iesc-20250930.htm", "chart": { "title": "IES Holdings operating margin by segment, FY2025", "unit": "%", "sample": "IES Holdings FY2025 10-K segment operating margin", "points": [ { "name": "Infrastructure (mfg, not field)", "value": 23.8 }, { "name": "Communications", "value": 14.6 }, { "name": "Commercial & Industrial (electrical contracting)", "value": 11 }, { "name": "Residential", "value": 8 } ] }, "source_access": "citation-text-only" }, { "headline": "Electrical service work runs higher margin than project and new-construction work.", "insight": "Operator sources put residential electrical service around 50 to 65% gross versus roughly 20 to 35% on commercial or new-construction bid work. The public data agrees on direction: IES's field-contracting segments (C&I 20.3% gross, Residential thinner on operating margin) sit below its manufacturing arm. Service is billable-labor-heavy; project work is competed on price. Directional industry figures.", "source": "AceWatt, RunClockwork 2026 (directional)", "chart": { "title": "Gross margin by job type (directional, industry sources)", "unit": "%", "sample": "Directional: AceWatt, RunClockwork (2026)", "points": [ { "name": "Residential service", "value": 55 }, { "name": "Commercial / project (bid)", "value": 30 } ] }, "source_access": "citation-text-only" }, { "headline": "The electrician wage runs about $19 to $51 an hour, one of the widest spreads in the trades.", "insight": "Employee wages, not fully-loaded cost; add roughly 30% for taxes, workers' comp, and benefits. Electricians are one of the largest construction trades by headcount, and the P10-to-P90 spread is wide, so a master electrician's true loaded cost can be more than double a helper's. Cost each role at its burdened rate, not a blended average.", "source": "BLS Occupational Employment & Wage Statistics, May 2024, SOC 47-2111", "chart": { "title": "Electrician hourly wage percentiles (BLS OEWS, May 2024)", "unit": "", "sample": "BLS OEWS May 2024, SOC 47-2111 (n=742,580)", "points": [ { "name": "P10", "value": 18.96 }, { "name": "P25", "value": 23.47 }, { "name": "Median", "value": 29.98 }, { "name": "P75", "value": 39.29 }, { "name": "P90", "value": 50.98 } ] }, "source_access": "citation-text-only" } ], "_license": "https://creativecommons.org/licenses/by/4.0/ (free to cite with attribution to Level, levelcfo.com)", "_publisher": "Level" }, "comps": [ { "ticker": "ATKR", "name": "Atkore Inc.", "return_6m_pct": 12.7, "return_1y_pct": 25.4, "gross_margin_pct": 20.87, "ev_ebitda": 10.33, "market_cap_billions": 2.48, "market_snapshot_date": "2026-07-23", "fiscal_period": "TTM (Q2 FY2026 ended March 27, 2026)", "publication_status": "historical", "current_comparison_eligible": false, "comparison_scope": "historical-reference-only" }, { "ticker": "DY", "name": "Dycom Industries, Inc.", "return_6m_pct": 3.4, "return_1y_pct": 72, "gross_margin_pct": 20.5, "ev_ebitda": 18.58, "market_cap_billions": 12.88, "market_snapshot_date": "2026-07-23", "fiscal_period": "TTM (Q1 FY2027 ended May 2, 2026)", "publication_status": "historical", "current_comparison_eligible": false, "comparison_scope": "historical-reference-only" }, { "ticker": "EME", "name": "EMCOR Group, Inc.", "return_6m_pct": 4.2, "return_1y_pct": 21.8, "gross_margin_pct": 19.29, "ev_ebitda": 17.67, "market_cap_billions": 33.06, "market_snapshot_date": "2026-07-23", "fiscal_period": "TTM Q1 2026", "publication_status": "historical", "current_comparison_eligible": false, "comparison_scope": "historical-reference-only" }, { "ticker": "FAST", "name": "Fastenal Company", "return_6m_pct": -1.5, "return_1y_pct": -8.7, "gross_margin_pct": 44.7, "ev_ebitda": 26.83, "market_cap_billions": 52.48, "market_snapshot_date": "2026-07-23", "fiscal_period": "TTM Q2 2026", "publication_status": "historical", "current_comparison_eligible": false, "comparison_scope": "historical-reference-only" }, { "ticker": "GWW", "name": "W.W. Grainger, Inc.", "return_6m_pct": 18.3, "return_1y_pct": 33.6, "gross_margin_pct": 39.15, "ev_ebitda": 22.06, "market_cap_billions": 64.78, "market_snapshot_date": "2026-07-23", "fiscal_period": "TTM (Q1 2026)", "publication_status": "historical", "current_comparison_eligible": false, "comparison_scope": "historical-reference-only" }, { "ticker": "HUBB", "name": "Hubbell Incorporated", "return_6m_pct": -6.8, "return_1y_pct": 10.6, "gross_margin_pct": 35.68, "ev_ebitda": 19.12, "market_cap_billions": 25.82, "market_snapshot_date": "2026-07-23", "fiscal_period": "TTM", "publication_status": "historical", "current_comparison_eligible": false, "comparison_scope": "historical-reference-only" }, { "ticker": "IESC", "name": "IES Holdings, Inc.", "return_6m_pct": 36.1, "return_1y_pct": 93, "gross_margin_pct": 26.08, "ev_ebitda": 25.13, "market_cap_billions": 12.21, "market_snapshot_date": "2026-07-23", "fiscal_period": "TTM", "publication_status": "historical", "current_comparison_eligible": false, "comparison_scope": "historical-reference-only" }, { "ticker": "LMB", "name": "Limbach Holdings, Inc.", "return_6m_pct": -17.5, "return_1y_pct": -34.2, "gross_margin_pct": 25.1, "ev_ebitda": 14.76, "market_cap_billions": 0.88, "market_snapshot_date": "2026-07-23", "fiscal_period": "TTM Q1 2026", "publication_status": "historical", "current_comparison_eligible": false, "comparison_scope": "historical-reference-only" }, { "ticker": "MYRG", "name": "MYR Group Inc.", "return_6m_pct": 51.5, "return_1y_pct": 118.4, "gross_margin_pct": 12.06, "ev_ebitda": 23.69, "market_cap_billions": 6.37, "market_snapshot_date": "2026-07-23", "fiscal_period": "Q1 2026", "publication_status": "historical", "current_comparison_eligible": false, "comparison_scope": "historical-reference-only" }, { "ticker": "NVT", "name": "nVent Electric plc", "return_6m_pct": 33.9, "return_1y_pct": 75.3, "gross_margin_pct": 37.01, "ev_ebitda": 28.74, "market_cap_billions": 25.05, "market_snapshot_date": "2026-07-23", "fiscal_period": "TTM Q1 2026", "publication_status": "historical", "current_comparison_eligible": false, "comparison_scope": "historical-reference-only" }, { "ticker": "POWL", "name": "Powell Industries, Inc.", "return_6m_pct": 37.9, "return_1y_pct": 171.3, "gross_margin_pct": 30.1, "ev_ebitda": 36.06, "market_cap_billions": 8.9, "market_snapshot_date": "2026-07-23", "fiscal_period": "TTM", "publication_status": "historical", "current_comparison_eligible": false, "comparison_scope": "historical-reference-only" }, { "ticker": "PRIM", "name": "Primoris Services Corporation", "return_6m_pct": -40.6, "return_1y_pct": -24.5, "gross_margin_pct": 10.38, "ev_ebitda": 11.54, "market_cap_billions": 4.91, "market_snapshot_date": "2026-07-23", "fiscal_period": "TTM (Q1 2026)", "publication_status": "historical", "current_comparison_eligible": false, "comparison_scope": "historical-reference-only" }, { "ticker": "PWR", "name": "Quanta Services, Inc.", "return_6m_pct": 14.2, "return_1y_pct": 70.2, "gross_margin_pct": 15.1, "ev_ebitda": 38.31, "market_cap_billions": 95.92, "market_snapshot_date": "2026-07-23", "fiscal_period": "TTM (Q1 2026)", "publication_status": "historical", "current_comparison_eligible": false, "comparison_scope": "historical-reference-only" }, { "ticker": "WCC", "name": "WESCO International, Inc.", "return_6m_pct": 14.2, "return_1y_pct": 50.4, "gross_margin_pct": 21.19, "ev_ebitda": 14.43, "market_cap_billions": 15.97, "market_snapshot_date": "2026-07-23", "fiscal_period": "TTM (Q1 2026)", "publication_status": "historical", "current_comparison_eligible": false, "comparison_scope": "historical-reference-only" } ] }