Qualified skilled trade workers are becoming a lot harder to find thanks to the skilled trade labor shortage.
While you might not have noticed, this shortage is causing all kinds of havoc in the industry with many companies going months with unfilled positions and losing insane amounts of money.
A report by the Associated Equipment Distributors (AED) states that the U.S heavy equipment industry loses more than $2.4 billion each year because dealerships are unable to hire enough skilled workers.
This lack of skilled trade workers also spans across the construction industry, manufacturing industry, and a number of industries that depend on skilled trade workers.
Although there are a host of other reasons, research shows that the shortage of skilled trade workers has been mainly caused by the following two factors:
Retirement of baby boomers:
According to employment data and economic analysis agency EMSI (Economic Modeling Specialists International), age could be the major factor causing the shortage. This is largely down to the fact that 53% of workers in the skilled trades industry are above the age of 45, a percentage that’s 10% higher than usual.
Also given the physical nature of the work, few workers work beyond the age of 65 and thus often retire earlier than people of similar age working in different industries.
It’s no secret that many youths in America look down upon blue-collar jobs, often choosing the more “prestigious” white-collar jobs and careers. One wouldn’t blame them though, given the fact that that’s the way the American education system is built.
Parents and schools push young people towards doing white-collar jobs and college is almost always the only logical step after completing high school.
Many youths buy into the old idea that skilled trades are usually physically demanding low-paying jobs that should only be considered as fallback jobs.
As the law of supply and demand always works, the shortage of skilled trade labor has led to an unprecedented wage increase in the industry, as companies are looking to hold onto the workers they have and attract new ones. This makes it the right time for one to consider the skilled trades as a probable career choice.
Rocky Boyd Founder at LVL RECRUITING I Help My Clients Fill Specialized Roles In The Low Voltage Industry and Provide Career Guidance and Training to Individuals In or Soon To Be In The Low Voltage Industry.