The future can be built only by those who know how to build — and by “build,” we mean install heating, ventilating and air conditioning; flooring; appliances; and all the other modern amenities we rely on to keep our offices, homes, and communities running.
But by 2028, there will be an estimated 3 million job vacancies in the skilled trades.
Led by Lowe’s, Generation T is a new initiative that aims to close this gap by laying out a path to nurture the skills of talented tradespeople by connecting them to prospective apprenticeships and jobs.
HERE’S WHAT THE SKILLED LABOR SHORTAGE LOOKS LIKE TODAY:
69% of members of the National Association of Home Builders reported delays in construction projects due to a shortage of unqualified workers.
SO WHERE ARE ALL THE QUALIFIED TRADESPEOPLE?
Skilled trades professionals are nearing retirement. Nearly half of all U.S. electricians are projected to retire in the next 10 years with few trained to take their place.
As the next generation enters the workforce, the perception of valuable economic skills has shifted considerably. In many high schools today, you’re more likely to find a coding class than a shop class. But there’s no app that can compare to the human know-how required of an electrician or a plumber.
TECHNOLOGY & SKILLED TRADES WILL SHAPE OUR FUTURE:
The trades are just as vital to the future of our economy as tech companies. While startups might build their products in the cloud, they still need a physical space in which to collaborate, work, and bring ideas to life. That’s where skilled tradespeople come in.
DO YOU LIKE WORKING WITH YOUR HANDS?
If the thought of attending a four-year university doesn’t feel like the right fit, the trades can provide a valuable alternative career path. You’ll enter the workforce faster and find yourself on a lucrative career path. Opening your own small business is even a possibility.
An electrician’s median starting salary is $59,100 compared with the $49,700 median starting salary of a college humanities major
HERE’S HOW TRADE SCHOOL STACKS UP AGAINST COLLEGE:
You can earn a trade school degree and enter the workforce in just2 years.
College lasts four years and could cost more than $154,000, taking into account loans and interest. By that calculation, five years into your career, your net earnings would be about: $79,000if you’d gone to trade school. -$107,000if you’d taken the college track since you’d likely be paying off loans for years.
Over the long haul, a trade school degree or pre-apprentice certification in the trades has the potential to give you a leg up on retirement savings, too: You could bank an additional $22,000 in savings by entering the workforce two years earlier. [SOURCE]