Despite demand beginning to slow in the construction sector, salaries are being driven by a combination of skills shortages and the cost-of-living crisis.
The report, compiled by the Association of Professional Staffing Companies (APSCo) using data provided by Broadbean Technology, revealed that average pay across construction increased 4% between January and October, with salaries increasing 1% between September and October (when signs of economic instability began to show).
Ann Swain, Global CEO of APSCo, commented on the findings, “While the construction sector has been on a roller coaster ride in terms of jobs throughout 2022, it is the sustained fall in application numbers that presents the greatest challenge to recruiters across the sector.
“This latest data does show that the economic uncertainty since the beginning of September has hampered hiring, something we don’t expect to see a reverse in the immediate future.
“It’s crucial that the government enacts policies that will bring stability for workers, including announcing the long-awaited Employment Bill and revising policies to better recognise and support the unique needs of the highly skilled contractor labour market.”
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