Most skilled construction occupations saw an acceleration in their wage growth between 2015 and 2023, as skills shortages rose
Average annual nominal median wage growth (%) and median annual earnings for all employees in 2023 in the UK, by occupation (£ thousands)
Wage growth was weak post-GFC for nearly all occupations
In the period after the global financial crisis (GFC), from 2008 to 2015, most of the skilled occupations in construction saw relatively weak growth in their nominal earnings, ranging from an average of 1.7% decline per year to 2.8% growth per year. This coincides with the time when reported skills shortages in the construction were low. (See slide 13.) Earnings growth in the overall economy averaged 1.0% per year over the same period. From 2015 to 2023, skilled occupations in construction saw an acceleration in their wage growth, ranging from an average of 1.8% for roofers to 3.8% per year for plasterers. Over this period, average wage growth in the whole economy averaged 3.3%
Median salary 2023 (£000s)
2008-2014 2014-2023
Plasterers
31.2
Floorers
32.4
29.7
Overall economy
34.8
Steel erectors
27.7
Painters
Most skilled occupations had above average wages in 2023
26.4
Glaziers
In 2023, 8 out of the 11 occupations have median annual earnings above the average of the economy overall. The occupation with the highest median annual earnings is electricians, at £35,200, whilst the occupation with the lowest average annual earnings was roofers, at £26,200.
30.5
Bricklayers
34.4
Plumbers
32.8
Scaffolders
35.2
Electricians
29.7
Carpenters
26.2
Roofers
-2 -1 0
1
2
3
4
5
Sources: Capital Economics and the Office for National Statistics Note: As there is no median wage data for roofers in 2023, the 2023 median wage is estimated by applying the average wage growth rate from 2014-2022 to the 2022 median salary.
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