The cost of hiring an electrical contractor climbed by 5.5% last month. The increase highlights the inflationary pressures in the construction industry supply chain.
Latest payroll data from Hudson Contract show average weekly earnings for self-employed electricians increased to £1,139 per week during August. Year on year, earnings rose by 5.07%.
Hudson Contract is a leading supplier to the construction industry with a client base of more than 2,500 small and medium-sized contractors.
Ian Anfield, managing director, says: “Electrical contractors are enjoying their best earnings since February 2020, before the first coronavirus lockdown. Most construction companies are reporting full order books, driven by strong demand for new housing and renovation work.
“The growth is creating challenges with labour and material shortages. Costs are rising on a daily basis, which is squeezing margins and making it difficult to price new projects, and shortages are causing delays in existing projects.
“Many companies are looking forward to the end of the government’s Self-Employment Income Support Scheme this month, which should encourage more people back to work.”
Hudson Contract, a £1.6bn-turnover group, is the UK’s largest provider of tax status and employment contract services to the construction industry.
The company 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.