Over eight in ten (82%) tradespeople have seen an increase in earnings following the most recent UK lockdown beginning in January 2021, according to new research by Direct Line business insurance.
For many, the windfall has been significant, with a third (33%) seeing their income rise between 11% and 20%, the insurer found.
The financial boost comes as the result of a spike in workloads for tradespeople, with 54% seeing a surge in their volume of jobs. Fourteen percent said their workload had vastly increased, while 40% said that it had risen somewhat.
Promisingly for some tradespeople, the heightened demand is set to last. One in ten (10%) are fully booked for six months and beyond, while nearly one quarter (24%) have a packed schedule for the next two to three months, added Direct Line.
Tradespeople are also feeling optimistic about the future, with three in ten (30%) feeling very positive about the rise in their workloads. With the average tradesperson working an extra 4.2 hours a week, a minority are feeling exhausted. Twelve percent said that they are feeling burned out due to the busy period, even though they feel broadly positive about the rise in their workloads.