Construction wages slightly rise although sluggish in some areas
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Its seems that construction wages for the self employed may be turning the corner after a slow end to 2023 and beginning of 2024, as many self employed have felt the pinch as interest rate rises have seen many jobs postponed.
The traditional after Christmas lull shows that the December peak of £1,044 then dipped in January/ February shows average earnings for self-employed tradespeople increased to £1,017 per week during February this followed the usual poor month of January when earnings dipped due to bad weather and some sites being slow to reopen after Christmas.
Labour rates on building sites last month moved closer to the all-time high seen at the end of 2023, according to the biggest payroll in the construction industry.
Average earnings in February were 2.3 per cent higher than the same month in 2023, highlighting resilience in demand for highly skilled subcontractors even in what has been a sluggish market.
Hudson Contract’s Ian Anfield who is managing director said: “It’s definitely been a tough time for the new build housing sector and it’s very early days but it feels like things could be turning round after a downturn caused by inflation and high interest rates.
“We have seen a slight improvement in per-client operative numbers and labour rates have continued to creep up.
“Clients are telling us that work on high-rise schemes in London and major cities such as Birmingham, Manchester and Sheffield is forging ahead.
“Others are spreading their reach into new counties and taking on new clients to maintain their turnovers and avoid the impact of the major housebuilders slowing production.”
Looking month to month, all regions were in positive territory in February with freelancers in Wales enjoying record high earnings of £1,103 per week.
Mechanical and electrical (21 per cent), plumbing (20.7 per cent) and surfacing contractors (18 per cent) stood out for the strongest growth in February.
Source Hudson contact
