The cost of hiring electrical contractors has risen by 3.1% in a month, according to the latest analysis of pay trends in the construction industry.
Hudson Contract said average weekly earnings increased to £1,063 during May.
The figures showed growth was twice as fast in London – the cost of hiring electrical contractors increased by 6.5% in the capital.
Ian Anfield, managing director, says: “We are starting to see the impact of people leaving the UK ahead of the EU Settlement Scheme deadline on 30 June and not being replaced by incomers.
“First and foremost, this is affecting London which has the highest concentration of foreign construction workers and the most transient labour market.
“There is shedloads of construction work about and growing pressure on the availability of both labour and materials.
“We expect some respite for construction companies with the closure of the government’s Self-Employment Income Support Scheme in September which should encourage claimants back onto projects.”
Hudson delivers the most accurate indication of subcontractor pay trends across the construction industry, publishing the average pay for a spectrum of 17 different trades split across 10 regions in England and Wales.
It supplies statistics to the Bank of England to keep policymakers updated with real-time insights on demand for skilled labour.