What's the current outlook for trade jobs shortages?

I've been hearing a lot about shortages in trade jobs lately. How significant is the demand for skilled workers in trade professions right now, and does this mean more job opportunities or higher pay?

The demand for skilled workers in trade professions is indeed high and has been increasing steadily for a number of years. According to the U.S. Bureau of Labor Statistics, employment in construction and extraction occupations is projected to grow 7% from 2023 to 2033, faster than the average for all occupations. Some specific trades, such as HVAC technicians or solar photovoltaic installers, have even higher projected growth rates.

Industries are struggling to find enough skilled workers to keep up with the demand, and this shortage has been exacerbated by an aging workforce in many trade professions. As more workers retire, there are not enough young workers entering these fields to take their places.

The primary cause of this shortage is a societal shift over the past few decades emphasizing four-year degrees over vocational or trade education. However, the tide is starting to turn with renewed interest in promoting the benefits of trade careers. This includes initiatives and programs designed to foster interest in the trades and provide training opportunities.

As to your second question, yes, this high demand generally does mean more job opportunities and often higher pay. The median annual wage for all construction and extraction occupations was $44,300 in May 2023. In sectors where there's a severe shortage of skilled workers, companies are often willing to offer competitive compensation packages to attract and retain talent.

The caveat is that while these professions can offer good wages, they often require extensive on-the-job training or apprenticeships. If you're considering a career in the trades, it would be beneficial to look into the various training and certification programs available in your specific field of interest. It's also important to remember that many trade jobs can be physically demanding and may have risks associated with them, which should be considered when exploring your career options.