Key Takeaways:
A growing workforce crisis has hit the skilled trades harder than almost any other sector. Aging electricians, HVAC technicians, plumbers and maintenance workers who keep commercial and institutional facilities running are leaving faster than they can be replaced. The shortage has reached a critical inflection point, with demand surging while the available labor pool continues to shrink, according to a recent report from JLL.
The report found that for every five workers who are leaving or retiring from the trades, only two new workers are entering. Job postings also have doubled over the past decade. By 2030, around 2.1 million skilled trades jobs in the United States could go unfilled, the report estimates, potentially costing the economy up to $1 trillion annually.
The JLL research also found that in one year, nearly 600,000 skilled trades positions were posted, yet only about 150,000 new workers entered through apprenticeship programs.
The report also highlights a shift that could begin to close the gap. Rising college costs and growing concerns about student debt, which now exceeds $1.8 trillion in the United States, are pushing students to reconsider traditional four-year higher education in favor of apprenticeships and technical education.
The report found that community college enrollment has increased by 12 percent over the past five years, compared to just a 3 percent growth at four-year institutions. Within those community programs, enrollment in trade-focused classes has risen 20 percent, more than double the growth rate of transfer-oriented academic programs. Trades-related majors, such as construction, engineering and mechanical repair, also are among the fastest-growing fields of study.
While apprenticeship programs still fall short of meeting the demand, the report suggests that growing interest in trades-related and technical education could help rebalance the labor market over time if supported by continued investment and expansion.
Elaina Myers is the assistant editor of the facilities market.
