Self-employed electricians increased their earnings during June despite site closures during the national Platinum Jubilee celebrations, according to the construction industry’s biggest payroll. Analysis shows average earnings of £1,085 during June, an increase of 1.3% month on month. Year on year, earnings increased by 5.1% compared to June 2021.
Ian Anfield, Managing Director of Hudson Contract, says: “Electrical contractors managed to increase earnings in June even though they took a couple of extra days off to celebrate the Platinum Jubilee with their friends and family. Sectors like tourism, leisure, retail and hospitality will have benefited from the bank holidays but there were hidden costs for construction, as our analysis suggests.”
Ian adds: “More generally, market conditions are levelling off. Some of the housebuilders are reporting fewer completions and will slow down their activity if they are not making the same margins. Anecdotally, smaller clients are saying residential customers are thinking again about home improvement projects because of costs. Insulation is twice the price it was a year ago. Timber prices have relented but are still at record highs. Fewer merchants are discounting because they know builders are desperate for materials.”