Construction industry sees wage inflation and greater level of employment!

We love to share positive news from the construction industry, and latest reports have shown wages have increased by over 6% over the past three months, according to the Office of National Statistics.

This increase has meant construction has seen the second highest wage increase across all sectors, behind only the wholesaling, retail and hotel industries. 

This lines up with the demand for new employees – and employment figures in construction have risen by almost 100,000. This is the biggest jump since June 2020, when the impact of the pandemic was most prevalent. 

Recovery from COVID-19 is still ongoing – employment numbers are still 96,000 lower than the first quarter of 2020, but seeing these positive trends puts us in good stead, particularly as we go into the uncertainty of the upcoming months. 

We also hope this gap can be filled with new faces in the industry – especially as over 56% of young people said they would be interested in a career in construction. 

This news comes after ONS reported last month that there was a 1.5% increase in construction output, indicating the seventh consecutive month of growth, which we hope continues into August. 

Positive news about wages and employment is particularly important during the cost of living crisis, and we hope to see this carry on as we offset further inflation. We also look forward to the future projects TRIQS will be working on and how they can continue these optimistic growth trends.