America needs to invest in the people who “build things” or risk falling further behind global competitors, Ford CEO Jim Farley warned Wednesday.
Speaking at Ford’s Accelerate event in Detroit, Farley said the U.S. has underinvested in the “essential economy” — industries such as construction, manufacturing, energy, transportation, logistics and public services — while countries like Germany, China and South Korea have placed greater emphasis on apprenticeships and workforce training.
“When my team and I travel to places like Germany, China and Korea, we see that we’re pretty far behind,” Farley said. “They get it. What they do is invest.
“If anything comes out of today, it’s this: We need to figure out how to invest in the people who build things.”
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The comments came as a new report found the U.S. will need to fill 1.7 million skilled trades jobs each year through 2035.
The State of America’s Skilled Trades report, published by the Ford-backed Alliance for America’s Skilled Trades, found the projected demand reflects both employment growth and the need to replace workers leaving the field.
Current training programs produce just 55 workers for every 100 jobs employers are expected to need.
The report also found 86 of 124 skilled trades occupations are expected to add jobs or maintain current employment through 2035, with electricians, HVAC technicians and industrial machinery mechanics among the fastest-growing fields.
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Only about half of students who enroll in skilled trades training programs complete them, though apprenticeship programs have completion rates above 90%.
Julien Sanchez, a Ford auto tech scholar and transmission technician, told FOX Business that strong job security and avoiding student debt are encouraging more young Americans to consider careers in the trades.
“A lot of four-year colleges … come with significant debt,” Sanchez said. “Skilled trades also [have] a lot of security.”
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| F | FORD MOTOR CO. | 12.06 | -0.24 | -1.95% |
James Cahill, an automotive technology student who recently represented Team USA at the WorldSkills competition in Shanghai, said social media is helping reshape perceptions of skilled trades by showcasing successful technicians and entrepreneurs.
“The skilled trades are definitely becoming more attractive as social media grows and shows the side of successful skilled trades,” Cahill said.
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Both students pushed back on misconceptions about careers in the trades.
“If you get out into the workforce and see what people are doing, you realize how smart you have to be in order to build a house or rebuild a transmission,” Cahill said.
Asked what advice they would give students weighing college against a trade career, both said there is no one-size-fits-all path.
“Four-year degrees aren’t bad, but you need to know what you’re doing getting into it so you make the right investment,” Cahill said.
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