The weekly wage reaches £1,000 for many traders
Self-employed traders in three UK regions earned more than £1,000 a week on average last month as demand outstripped supply.
Figures from employment services provider Hudson Contract revealed that self-employed construction workers in London, the South East and the East Midlands could expect four-figure wages every Friday in March.
Average earnings rose from February in seven of the 10 regions measured, with weekly earnings in England and Wales rising nearly 1% to match the previous all-time high of £959.
Hudson Contract managing director Ian Anfield said the evidence promised a “good year” for tradespeople.
“Although there are still huge problems with inflation, fuel and materials, which can only be aggravated by the war in Ukraine, the construction industry is still running at full capacity,” he said. he declared.
“There is still huge pent-up demand for housing in the UK and there is still a shortage of skilled workers. Our customers are at full capacity, with well-filled order books.
Workers in the East Midlands had the highest average wage, at £1,070 in March, while those in Yorkshire saw the biggest increase, by 4.3%.
Welsh freelance contractors suffered the biggest drop in income, with a 5.1% drop in wages from February, while those in the North East remained the lowest paid at just £759 a week.
Demolition and shipwreck specialists saw the highest monthly increase, of 8.1%, to £938 per week. Plumbers enjoyed the highest earnings of any trade, taking £1,139 a week.
Turner & Townsend this week raised its 2022 tender price forecast to a staggering increase of 8.5% for buildings and 6% for infrastructure.
The cost consultant said the ongoing war in Ukraine had had a “significant” impact on inflation, adding that it added to “layers of issues including the pandemic and Brexit disruption”.
Martin Sudweeks, UK managing director of cost management at Turner & Townsend, called for “calm, clear and programmatic thinking”.
He added, “Those who successfully diversify their supply chains and build strong relationships with trusted suppliers will maximize resilience and benefit the most in the long run.”