Business

Want to strengthen America's economy? The key investment is hiding in plain sight

The US economy is facing a significant shortage of skilled technical talent, with industry supply meeting only 42% of total demand across 10 critical...

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Want to strengthen America's economy? The key investment is hiding in plain sight
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The US economy is facing a significant shortage of skilled technical talent, with industry supply meeting only 42% of total demand across 10 critical sectors such as automotive, aviation and HVAC.

This shortage results in an estimated $7.42 billion drain on wage-based economic output from the US economy every year. Despite efforts to address this issue, the technician shortage remains severe, with employers investing hundreds of millions of dollars in scholarships, grants and workforce training programs to build the next generation of technicians.

However, part of the problem lies in how labor data categorizes skilled workers. Technicians are scattered across dozens of occupational codes, making one of America's largest essential workforces effectively invisible. When viewed separately, their shortages can appear as isolated problems facing individual industries.

The Bureau of Labor Statistics counts nearly 6 million maintenance and repair workers, but this number does not account for welders or self-employed technicians. In reality, the technician workforce is roughly 7 million strong, collectively earning over $375 billion a year.

Employers such as Ford, Carrier and Snap-on have invested in initiatives to address the shortage, but more needs to be done to make this workforce visible and provide pathways for students to enter these careers. This includes building career-and-technical education programs, apprenticeships and scholarships that reach roles like automotive, HVAC and industrial machinery technicians.

As the country invests trillions in new physical and technological infrastructure, it is crucial to also invest in the human infrastructure required to maintain it. The technician workforce is a strategic asset, and making them visible will help policymakers and funders understand their true size, demand and economic value.

Source

NTC Report coverage is based on reporting from the original publisher.

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