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Construction Labor Rates Surge

Last month, labor rates on construction sites inched closer to the record high observed at the close of 2023.


According to the latest data from the industry's largest payroll provider, the average earnings for self-employed tradespeople rose to £1,017 per week in February, nearly matching the December peak of £1,044.This uptick follows the typical slump experienced in January due to inclement weather and delays in site reopening's post-Christmas.


In comparison to February 2023, average earnings saw a 2.3% increase, underscoring the persistent demand for highly skilled subcontractors despite a sluggish market.


Ian Anfield, managing director of Hudson Contract, remarked, "While it's been a challenging period for the new-build housing sector, there are early indications of a turnaround following a downturn driven by inflation and high interest rates. We've observed a slight uptick in per-client operative numbers, and labor rates have steadily risen."


Anfield continued, "Clients are reporting progress on high-rise projects in London and major cities like Birmingham, Manchester, and Sheffield. Additionally, some are expanding their operations into new regions and acquiring new clients to sustain their turnover and mitigate the effects of reduced production by major house builders."


Regionally, all areas experienced positive growth in February, with freelancers in Wales achieving a record-high weekly earnings of £1,103..






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