Earnings for freelance tradespeople in the construction sector increased by 2.5 per cent last month, according to 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 £911 for subcontractors.
Our regional breakdown shows the South West was the best-performing territory with average earnings rising by 4.5 per cent to £835 a week during October.
The region has a number of major construction projects including the Hinkley Point C nuclear power station in Somerset and the regeneration of the 19th century Brooks Dye Works in Bristol.
The West Midlands had the second strongest growth, rising 3.3 per cent to £981 a week, followed by the East of England, rising 3.2 per cent to £945.
Subcontractors in all 10 regions across England and Wales saw increases in average earnings last month.
Ian Anfield, managing director of Hudson Contract, said: “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 busy with freelancers earning on average £911 per week.
“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 and the bad weather sets in.
“We’re hoping the slowdown as reported in the latest construction purchasing managers index doesn’t catch up with freelancers in the new year. 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. However our data is not the sentiment of 150 purchasing managers, ours is hard figures from 2,200 construction companies.”
Hudson Contract delivers the most accurate indication of sub-contractor 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.
About Hudson Contract:
Hudson Contract, founded in 1996, is the UK’s largest professional workplace audit and Construction Industry Scheme (CIS) contract provider. The family-owned group provides audit contract and payroll services to more than 2,200 construction SMEs, on whose be-half it processed 1.7m payments last year. Hudson Contract’s monthly figures offer a valuable insight into pay trends in the £90bn construction industry, which accounts for 6.7 per cent of the UK economy and supports 2.9m jobs.