Three market conditions impacting field service costs
By Wael Mohammed, EVP of Strategy, Field Nation
Gas costs are up 40% YoY, making it more expensive for field techs to get from worksite to worksite. Overall costs related to travel have increased by 6%.
Rising equipment costs are also increasing the price tag on each individual job. Overall equipment costs are up 18%, which impacts the cost of all types of work.
According to the US Department of Labor, the average wages of private sector workers increased by 5% over the course of 2021.