March 14, 2023 • Working in the Trades
The Demand for Skilled Trades: America Needs Tradespeople – And They Need Them Now!
In today’s economy, the need for skilled tradespeople is on the rise. In most states across the country, skilled trade jobs sit empty while potential workers choose to invest in expensive college degrees. Meeting the demand for skilled trades doesn’t look likely unless a dramatic societal shift happens. While that may be rocky for the economy – it could be good news for you.
Read on to learn more about the how the demand for skilled trades is rising and how you can turn that need into your route towards financial and personal success.
What’s Driving the Demand for Skilled Trades?
With the advancement of technology and the changing nature of the workforce, many industries are facing a shortage of workers with the skills and experience needed to succeed. More and more people in the younger generations have turned towards college as the rule, instead of the exception. This has led to an increased demand for tradespeople, who are able to fill this skills gap and drive economic growth.
Construction Continues to Speed Up
One of the main reasons for the rising need for tradespeople is the ongoing construction boom. While COVID and its impact on global supply chains caused a temporary shock, the demand for new construction continues to steam ahead. With the economy growing and more people looking to buy homes and build new structures, the construction industry is facing a shortage of skilled tradespeople.
In fact, 90% of general contractors across the country are feeling the heat from the current and potential future impact of the labor shortage. This includes electricians, plumbers, carpenters, and other skilled workers who are needed to build and maintain homes and commercial buildings.
A Generation Reaches Retirement Age
Another factor driving the need for tradespeople is the aging workforce. Many skilled tradespeople are nearing retirement age, and there are not enough young workers to replace them. Baby Boomers were a large generation, with 70 million Baby Boomers still alive today. Most of them are either retired, in the process of retiring, or planning retirement just around the corner.
Many of these were the tradespeople we still rely on. If you’ve ever had to call a plumber or electrician in your lifetime, there’s a good chance they’re part of this retiring generation or were working for them. But when they retire, there’s nobody there to take their place.
This means that employers are facing a shortage of workers with the skills and experience needed to fill open positions.
Technology is also playing a role in the rising need for tradespeople. With the increasing use of automation and robotics in the workforce, many industries are facing a shortage of workers with the skills and experience needed to operate and maintain these advanced technologies. If you’re a roboticist or theoretical physicist, you still rely on electricians, plumbers, and mechanics to keep the infrastructure and tools you rely on working.
How The Demand for Skilled Trades Can Help You
The trades are the backbone of our society. And automation isn’t likely to cover the gap in employment needed to keep the systems that drive our society running smoothly anytime soon. Moreover, the need for tradespeople is not limited to specific industries or regions, it is a national trend. The Bureau of Labor Statistics projects that many trade-related occupations will see above-average employment growth between 2018-2028.
The good news? For those new to job hunting, the biggest hurdle you often face is competition. Traditional wisdom says that for every desirable job, there’s a dozen people fighting for it. When it comes to the trades, that’s no longer the case.
In almost every city in the nation, there’s a need for more tradespeople. Whatever trade you can think of probably has job availabilities that simply aren’t being filled. That means when you throw your hat in the ring, you have a strong chance of getting that job almost immediately.
On top of that, income from working the trades can start off higher than entry-level work in industries that require four-year degrees, with earning potentials rising with your willingness to put in the time.
Lastly, the experience and skills you develop in your industry give you a unique opportunity: to set off on your own. Building your reputation and network in the trades opens the doors to entrepreneurship. You can go from being an employee to being an employer – increasing your earning potential and helping you find a path to building future generations. The happiness and sense of accomplishment that can come with this opportunity is worth the effort!
With the ongoing construction boom, aging workforce, and the increasing use of technology, many industries are facing a shortage of workers with the skills and experience needed to succeed. This has led to an increased demand for tradespeople, who are able to fill this skills gap and drive economic growth. Additionally, the trades offer a path to the middle class for those who may not have a college degree.
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Ken Rusk is a blue-collar entrepreneur who has started several successful endeavors and mentored hundreds of young people in their pursuit of a satisfying career and fulfilling life. Discover how Ken’s approach to life and work can help you set and achieve your goals – all while avoiding the nearly inescapable trap of college debt. Get a copy the Wall Street Journal bestselling book, Blue Collar Cash today!