The skilled trades industry is an essential component of the American economy, and it has experienced a significant surge in demand in recent years. In this blog, we'll take a closer look at the statistics surrounding the demand for skilled trades jobs in America.
Rising Demand
According to the Bureau of Labor Statistics (BLS), the demand for skilled trades jobs is expected to grow by 8% between 2023 and 2029. This growth rate is faster than the average for all occupations, which is projected to be 4%. This means that the demand for skilled trades jobs is expected to continue to rise in the coming years.
Job Openings
The BLS also reports 7.6 million job openings in the United States as of January 2023.
High Paying Jobs
Skilled trades jobs often offer higher-than-average salaries. According to the BLS, the median annual wage for skilled trades was $77,430 in May 2022, which is higher than the median annual wage of $41,950 for all occupations. Top earners can expect pay in the six-figure range, dependent upon trade. Electricians, plumbers, and HVAC technicians also earn higher-than-average salaries, with median wages ranging from $56,180 to $55,160 per year.
Shortage of Skilled Workers
Despite the high demand for skilled trades workers, there is currently a shortage of workers with the necessary skills to fill these jobs. A survey by the Associated General Contractors of America found that 81% of construction firms reported having difficulty filling skilled trades positions. The shortage of skilled workers has led to increased competition among employers for workers, driving up wages and benefits in some areas.
Opportunities for Women
The skilled trades industry has traditionally been male-dominated, but there are increasing opportunities for women to enter these fields. In 2022, women accounted for 11.6% of workers in construction and extraction occupations, up from 9.9% in 2010. There are also initiatives in place to encourage women to pursue careers in skilled trades, including training and apprenticeship programs.
In conclusion, the demand for skilled trades jobs in America is high and is expected to continue to grow in the coming years. The shortage of skilled workers presents a significant opportunity for individuals interested in pursuing careers in these fields. With high-paying jobs and opportunities for advancement, skilled trades careers offer a promising path to a fulfilling and financially rewarding career.
Contact MK Industries today to discuss your career placement.
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