Wage growth has slowed in most countries this year, but minimum wages and award rates have still gone up. For a trade business, that means your labour costs are rising, while customers are watching every dollar. Knowing the latest figures helps you set fair pay and charge-out rates that still leave a profit.
Here is what the official numbers show as of October 2026.
New Zealand: slower wage growth, higher minimum wage
Stats NZ figures for the June 2026 quarter show wage growth has cooled:
- Private sector wages, measured by the Labour Cost Index, rose 2.0 percent in the year to June 2026.
- Average ordinary hourly earnings across all sectors rose 2.8 percent, to $44.62.
- Unemployment rose to 5.6 percent, up from 5.4 percent in the March quarter.
The adult minimum wage went up on 1 April 2026, from $23.50 to $23.95 an hour. The starting-out and training minimum wage rose to $19.16 an hour, which is 80 percent of the adult rate. That training rate matters if you employ apprentices.
There is no official national figure for trade charge-out rates. One public example is AA Home Services, which lists fixed prices for its plumbers and electricians on its website. In October 2026 its prices for business-hours work within the hour ranged from about $174 to $302 for a plumber and about $155 to $338 for an electrician, depending on the region. These prices include GST, the first hour of labour, call-out and travel. After-hours and public holiday rates are higher.
These are prices for one service, not an industry average. But they show how much regional differences and urgency affect what customers pay.
Australia: award rates up 4.75 percent
The Fair Work Commission’s Annual Wage Review lifted all modern award rates by 4.75 percent from the first full pay period on or after 1 July 2026. The national minimum wage rose to $26.44 an hour, or $1,004.90 a week.
If your workers are on an award, such as the building or electrical awards, check that you have applied the new rates.
Overall wage growth is lower. The Australian Bureau of Statistics Wage Price Index rose 3.2 percent in the year to the June quarter 2026. Private sector wages rose 3.1 percent. This is down from 3.4 percent a year earlier.
United Kingdom: construction pay has stalled
Across the whole UK economy, regular pay grew 3.5 percent in the year to April to June 2026, according to the Office for National Statistics. But construction was the weakest sector. Regular pay in construction fell 0.1 percent over the year, the slowest growth of any industry.
At the same time, minimum rates rose from 1 April 2026:
- The National Living Wage for workers 21 and over went up 4.1 percent to £12.71 an hour.
- The rate for 18 to 20 year olds went up 8.5 percent to £10.85.
- The apprentice rate went up 6 percent to £8.00.
This squeezes trade firms that employ young workers or apprentices, especially when overall construction pay is flat.
United States: median trade pay
The US Bureau of Labor Statistics publishes median yearly pay for each trade. For May 2025:
- Plumbers, pipefitters and steamfitters: $63,800.
- Electricians: $63,190.
- Carpenters: $60,580.
- Construction labourers and helpers: $46,680.
- All construction and extraction jobs: $59,540.
These are wages paid to workers, not what customers are charged. Pay also varies a lot by state and city.
Wages are not your charge-out rate
A common mistake is to set your hourly rate based only on what you pay staff. Your charge-out rate needs to cover much more than wages, including:
- Holiday pay, sick leave and other on-costs.
- Vehicle, fuel and tools.
- Insurance, licences and registration.
- Time spent quoting, travelling and doing paperwork, which you often can’t bill.
- A profit margin, so the business can grow and handle slow months.
If your pay costs went up this year but your rates didn’t, your margin has shrunk.
What it means for your business
- Check your pay rates. Make sure all staff, especially apprentices and young workers, are on at least the new minimum or award rate.
- Review your charge-out rate at least once a year. Work it out from your real costs and billable hours, not from what competitors charge.
- Be clear with customers. Explain your call-out fee, after-hours rates and what is included, so there are no surprises on the invoice.
- Track your billable hours. If staff are only billing a portion of their paid time, find out where the rest goes.
- Don’t race to the bottom. With wage growth slowing, some customers will push on price. Compete on reliability and quality, not just cost.
Sources
- Labour market statistics: June 2026 quarter, Stats NZ via Mirage News
- New Zealand minimum wage increase from April 2026, Payroll.org
- Our tradespeople hourly rate, AA New Zealand
- What Australian employers need to know about the 2026 annual wage review, Pinsent Masons
- Annual wage growth of 3.2% in June quarter 2026, Australian Bureau of Statistics
- Average weekly earnings in Great Britain: August 2026, Office for National Statistics
- National Living Wage increases to £12.71 per hour, GOV.UK
- Construction and Extraction Occupations, US Bureau of Labor Statistics
This article is general information based on sources available in October 2026. Rules, prices and figures change, so check the current details with the official source where you work.