Earnings highest in London and East of England
Two bank holidays could not hold back weekly earnings in June which continued to rise, according to a leading payroll firm.
Hudson Contract’s latest figures showed that self-employed workers took home a weekly average £921 during the month, despite site closures for the Platinum Jubilee.
It said that it estimated that the double bank holiday at the start of the month had cost 40,600 subcontractors a total £14.9m in lost earnings.
But pay packets were still 0.3% higher in June than the month before and up 5.5% compared with the previous June.
Ian Anfield, managing director of Hudson Contract, said: “Subbies earned broadly the same in June as they did in May even though they took a couple of extra days off [because of] the Platinum Jubilee.”
He added there were signs that rampant wage inflation was slowing down and said: “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.”
The North-east saw the biggest month on month increase in wage packets (5.6%) to £711, although pay levels were down year-on-year.
The North-west, South-east and South-west all saw month-on-month declines despite improved performances on last June.
Weekly wages in London were up 2.3% to £995 – a rise of nearly 20% on last June – with thefigure topped only by the East of England at £1,007 – up 1% on May and 6% year-on-year.
No comments yet