Earnings for self-employed electricians rose by 5.8 per cent last month to hit the highest level on record, according to the latest figures released by Hudson Contract.
Analysis of October payroll data for more than 2,200 construction companies in England and Wales reveals a weekly average of £1,165 for electrical contractors.
This is the highest figure since Hudson Contract started analysing subcontractor earnings in March 2008. Electricians generated the highest earnings of all 17 construction trades covered by the company last month.
Self-employed electricians in Wales saw the strongest growth in weekly earnings in October, rising 25.7 per cent to £972. They were followed by the South East, up 8.8 per cent to £1,301, and the North West, up 8.1 per cent to £929.
Electrical contractors in the East of England had the highest weekly earnings at £1,363, equivalent to an annual salary of £70,000.
The findings come after government figures showed the number of new homes completed by developers reached the highest level in 11 years.
Ian Anfield, managing director of Hudson Contract, said: “Despite political uncertainty and a general election, freelance electricians have never earned more. We hope this message reaches young people considering a career in construction.
“Companies using Hudson are dynamic SMEs that are run by owner-managers who are in complete control of their businesses. Despite indicators showing the entire economy and particularly the construction industry is slowing down, our clients are as busy as ever and the freelancers they are using are earning more money than ever before.
“We’re not surprised by this as each year construction companies rush to get projects finished by Christmas. Similarly contractors want to get their money in and earn as much as they can before Christmas.
“We’re hoping the slowdown as reported in latest construction PMI doesn’t catch up with electricians in the new year. Our data is based on figures from 2,200 construction companies, not the sentiment of 150 purchasing managers.
“There is no doubt construction needs certainty: a new government could change spending plans or tighten up on planning regulations, which might lead to a slowdown in investment in this country.”
Hudson Contract delivers the most accurate indication of subcontractor pay trends across the construction industry, using payroll data to publish the average pay for a spectrum of 17 different trades split across ten regions in England and Wales.