Construction Pay Rates Go Through The Roof Again

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Labour rates on building sites in February moved closer to the all-time high seen at the end of 2023, according to the biggest payroll operator in the construction industry.

Hudson Contract analysis shows average earnings for self-employed tradespeople increased to £1,017 per week during February, almost the same as the December peak of £1,044. This followed the usual poor month of January when earnings dipped due to bad weather and some sites being slow to reopen after Christmas.

Average earnings in February were 2.3 per cent higher than the same month in 2023, highlighting resilience in demand for skilled sub-contractors even in what has been a sluggish market.

New build housing still tough

Hudson Contract’s managing director Ian Anfield says: “It’s definitely been a tough time for the new build housing sector. However, it’s very early days, yet 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.”

Who earns the most

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.

Unfortunately, window fitters don’t make it into the highest wage bracket – that falls to mechanical and electrical, plumbing and surfacing contractors.

Hudson Contract

Hudson Contract is the UK’s largest provider of tax status and employment contract services to the construction industry with annual revenues of £2 billion and a client base of 2,600 construction SMEs. The firm also supplies stats to the Bank of England to help keep policymakers updated with insights on demand for skilled labour.

Picture: Pay rates on building sites have gone up again.

www.hudsoncontract.co.uk

Article written by Cathryn Ellis
05th April 2024

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