The Scarcity of Skilled Workers
President Biden is currently trying to create more jobs through his new infrastructure bill. Specifically, he is trying to create more jobs in the construction, transportation, and energy sectors by creating more projects for these companies. The bill would create millions of new jobs and would add around $1.4 trillion to the U.S. economy over the next eight years, S&P Global Ratings said.
However, one major concern is the availability of skilled workers to fill these new positions. Labor deficiencies in these sectors, specifically construction, have caused companies to turn down incoming projects because the construction industry has been unable to fill jobs, a U.S Chamber of Commerce survey said. These concerns have raised questions about whether the industry is prepared to handle the plans of the infrastructure bill.
The questions raised also demonstrate a larger issue at hand: the shortage of skilled labor and the future of finding workers in these industries. As current workers begin to retire or look for new jobs, these roles are left largely empty, as young people are not pursuing these jobs. As newer generations pursue four-year institutions, they are not pursuing trade positions. This leaves us with questions about how we are going to find more skilled workers, as well as replace the workers that have retired or left, the New York Times said. The industry cannot grow until its current roles are filled. Projects at many construction companies are backed up for years. As much as many of these companies would like to complete projects sooner, they simply do not have the manpower to do so. The transportation industry is experiencing the same issues, as transit agencies cannot fill roles such as subway operators and maintenance technicians.
This is significant for the future of these industries. With young people not pursuing these jobs and the demand for these services rising, we must address how to train people for these roles. This is why investing in training and education in these sectors will be pivotal for replacing workers, as well as growing these areas with the infrastructure bill, the New York Times said. The bill will help create jobs, as long as we equip people with the skills necessary to take advantage of these opportunities. Additionally, the bill also does not help facilitate the growth of women and other historically underrepresented groups in these sectors. Training in these sectors is something that is needed in this bill in order to be more inclusive and to increase participation in these industries. Replacing the skilled labor in these industries is doable, as long as we also invest in workers who can take on these roles.
