Due to the drastic increase in inflation over the past year, COVID shutting down our economy for an extended period of time, the change in the country’s leadership, and much more, we’ve noticed as consumers that our dollar won’t go as far in today’s society compared to just a few years ago.
Not only has a gallon of milk at the grocery store increased in price, but so has the cost of PVC pipes, valves, fuel, and other material a plumber needs to service various repairs and projects. Be sure to do your research about costs and what to look for when hiring a reliable plumber before selecting a contractor. Below, we’ll dive into one of the leading challenges in the industry and a common reason why costs continue to increase – skilled labor employment rates.
Best Plumber in Connecticut Shares Industry Stats
Not only do we face challenges in today’s economy with the rise in material costs, but we also are continuing to battle the skilled labor industry employment rates, which affect the increase in service price. See the images below for notable statistics.
Image Source: https://www.uschamber.com/workforce/america-works-data-center
For the plumbing industry, we fall under “professional and business services” so we hover around a 3% quit rate. Therefore, making it even more challenging to find a reliable, licensed plumber as a consumer – and as an employer in the plumbing industry. Meaning, our currently employed, licensed plumbers are in high demand for repairs/projects. To keep our team from getting overwhelmed, we have to keep prices competitive and fair with the increased demand. We also have to keep in mind the rise in material cost as mentioned above, and below.
Rise in Cost for Plumbing Material
A few months ago, in September of this year (2022), Spectrum News interviewed a plumbing company asking about how the increased cost of materials has affected their business. They noted that copper and PVC piping material are two staples in the plumbing industry, as well as cast-iron pipes, although they’re slowly being replaced as years pass.
The Co-President Mike Wallenstein said in his interview:
PVC pipe has gone up about 75% and the fittings about 83% for PVC fittings. We’ve seen cast-iron pipe go up about 83%.
https://spectrumnews1.com/oh/columbus/news/2022/09/07/pipe-costs-increasing-for-plumbers
And trust us plumbers, we feel the effects across the industry. Of course, we’re all hoping for the economy to turn around in the near future but we could be waiting some time for prices to fall again. Know your budget, research your potential plumber, research the plumbing industry, and simply be prepared for costs that could come along with any plumbing request.
Do Your Research Before Hiring a Licensed Plumber
Moonlight Plumbing, the best plumber in Connecticut, wanted to shed light on the realities of today’s economy and plumbing industry. We want to be sure you’re hiring the best plumber for the job you’re looking to tackle. Read more about things to look for, outside of costs, when choosing the best plumber for any project/repair. If you have plumbing questions or needs, contact our team of experts at (860) 863-8189. We’re always happy to help!
