The End of 2024 Brings Significant Changes to the Skilled Trades Industry
In case anyone reading this does not own a T.V. or hasn’t gotten onto social media in the last 18 months, a rather significant election just wrapped up, and that election brought major implications to the industry.
So, what are these changes and how are they impacting the skilled trades labor market? How about we dive into the State of the Trades and find out.
- Post election hiring data indicates that by Spring 2025, we will face a significant labor gap to that during the pandemic; however, unlike 2020-2022, talent is being trained at levels not seen in over a generation.
- Since November 6, the day after the election, skilled trades hiring activity has increased 147%, compared to Q3 of this year, and is up 50% when compared to Q4-2023.
- The average salary of the most in-demand trades this quarter are up 4% compared to those in Q3.
- For the first time since Q1-2023, the percentage of employers waiving previous criminal convictions by new hires increased from quarter to quarter.
- These data points, along with the expectation for reduced regulations and protective tariffs with the new administration, are fueling the increase in hiring. However, talent is now being developed at rates not seen in this country since World War II. Career School enrollment is up 4.9% since Fall 2020, online search traffic for vocational training is up 27% in the last two years, interest amongst 18- to 24-year-olds to pursue a trades career has nearly doubled since COVID, and 40.3% of unskilled workers in 2024 said they’re interested in attending a trade school if available (up 8.9% from a historical average of 31.4%).
- The incredible levels of destruction brought by Hurricanes Helene and Milton placed North Carolina and Florida as the leading states in skilled trades job creation, a title they will likely retain throughout 2025.
- While ofcourse this is by no means how these states wished to earn their ranking, the move from a recovery effort to rebuilding will continue to drive job creation. Rebuilding, especially in Western North Carolina, will in many cases be a multi-year effort, and we pray that our industry remembers our neighbors and we support their efforts for as long as needed.
- Although the average percentage of workers willing to relocate fell by 2 points this quarter to 54%, that figure has averaged 58% since the election. We credit this change to expectations for lower interest rates in 2025. Pro Recruiting Tip: your talent pool is nationwide, and the ability to offer relocation packages will give you a huge competitive edge in the talent war.
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