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Wed April 24 2024

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Self-employed earnings return to pre-Covid levels

15 Apr 21 Self-employed tradespeople have just enjoyed their best month for earnings since the start of the pandemic, according to Hudson Contract.

Construction payroll services provider Hudson Contract reports that average weekly pay rose by 3.7% in March 2021 to £920, the highest figure since February 2020. This is 57% higher than the median weekly pay for full-time employees, which according to latest official statistics is £586.

Hudson supplies audit, contract and payroll services to more than 2,500 construction SMEs and is the biggest provider of its kind, with annual turnover of £1.6bn.

Managing director Ian Anfield said: “Our latest figures show that self-employed tradespeople are reaping the rewards for their enterprise and efforts. Many have carried on during lockdowns to deliver the housing and infrastructure that Britain relies on.

“Self-employment in construction offers financial freedom and flexibility for highly skilled individuals and enables projects to be completed safely, on time and on budget.”

The best-performing regions for earnings growth in March were Yorkshire & Humber (+7.5%), the East of England (+5%) and the West Midlands (+4.9%).

Weekly earnings reached all-time highs in the East of England (£1,016) and the East Midlands (£968) during March. All regions except Wales had month-on-month earnings growth.

Ian Anfield added: “We continue to see strong demand for skilled labour on building sites and many of our clients are reporting full order books. The housing market is booming due to the stamp duty holiday and government is com-mitted to infrastructure spending across the UK.”

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