Baby boomers currently make up the majority of skilled trades workers, so what’s going to happen as this aging generation continues to retire? Adecco took a look at the numbers in this report, and the data revealed concerning news for employers who depend on baby boomers to keep vocational industries alive. Here are five worrisome statistics that the report shares:
- Sixty-two percent of firms are currently struggling to fill skilled trade positions.
- Baby boomers currently hold about 5,088,030 of the construction and extraction occupations.
- Thirty-two percent of manufacturers that currently make over $1 billion will lose over $100 million over the next few years due to baby boomers retiring.
- An estimated 31 million positions will need to be filled around the country by 2020.
- Electrical and Electronics Repairers are the oldest workforce in the skilled trades today (72 percent of workers are 45+ and over 30 percent are 55+), with Engineering Technicians from these fields following closely behind.
Baby Boomers Retiring, Creating Job Openings
Baby boomers are retiring in industries all across the board, so why are skilled trades suffering the most? After all, these are in-demand jobs that can’t be outsourced. Along with the majority of the workforce being older, younger generations are not pursuing vocational careers. This is making it incredibly difficult for electrical, electronics and manufacturing fields to replace retiring employees and continue smooth operations.
Fortunately, there’s some good news that could cause these numbers to change. Employers now understand they need to provide incentives for going into the skilled trades and are doing so by partnering with educators to give students onsite experience and an increased chance of landing a job. Along with many job opportunities, employers are also offering higher pay and better benefits to help the younger workforce begin rewarding careers*.
Lincoln Tech is proud to partner with numerous vocational employers to benefit both the younger generations seeking career opportunities and the industries in need of skilled workers. Start setting yourself up for career success in the Skilled Trades with hands-on training to help you bridge the Skills Gap!
- Career growth and salary information can be found at careeronestop.org.