MT Magazine November/December 2025

THE INDUSTRY OUTLOOK ISSUE

FEATURE STORY

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what it calls the “Essential Economy,” which encompasses workers in agriculture, construction, energy, manufacturing, transportation and logistics, maintenance and repair, and the public sector. It noted: “The most acute labor shortages today are in the skilled trades essential to these lagging sectors. Investing in targeted education and training isn’t just social policy; it’s strategic talent development. We need to bridge the gap between educational institutions and employers, funding proven models that equip workers with the high demand skills needed to operate a modern, productive Essential Economy.” The “lagging” is compared with the productivity growth in the white-collar economy. The researchers point out: “The productivity bottleneck in the Essential Economy isn’t merely an academic concern. It has tangible, costly implications for businesses.” It notes implications for individuals, too: If productivity in the essential economy kept pace with the rate established 20 years earlier, U.S. GDP would be 10% higher, and, importantly, “a typical American worker would earn $5,000 more a year.” On Sept. 30, at the Ford Pro Accelerate: The Essential Economy conference held by Ford in Detroit, 300 leaders representing companies within that sphere came together to discuss these topics. Ford CEO Jim Farley said, “What happened to the Essential Economy? We outsourced a lot of skills and jobs. We stopped investing in the trades. If Henry Ford saw what has become of us, I think he’d be kind of mad.” Probably more than “kind of.”

jobs are just as important to society as white-collar jobs, with 63% strongly agreeing.” But then there’s this: “90% say most people don’t realize how well-paying skilled trades can be; 86% agree skilled trade careers are overlooked in schools today.” So, while people believe jobs in trades like manufacturing are important, they also believe young people aren’t learning about their advantages. Only 38% of Gen Z believes that skilled trades offer the best job opportunities. Boomers, who are aging out of the workforce, think skilled trades offer opportunities; 59% say so. Additionally, only 38% of Gen Z believes that skilled trades offer a faster and more affordable path to a good career; 40% of Gen Z is unaware of the high pay potential of jobs in the skilled trades. But here is something that businesses need to know about how they can help – and why. The survey participants were presented with this statement: “I have a more positive opinion of companies that support skilled trade programs.” And 81% of Gen Z, 89% of millennials, 91% of Generation X, and 97% of boomers agree. The companies that support training, apprenticeships, internships, scholarships, and similar programs for people pursuing a skilled trade will likely see serious ROI. The Essential Economy Research released by the Aspen Institute in June highlights the importance of businesses supporting the growth of

“We need to figure out how to i nvest in the people who build things.”

Jim Farley, CEO Ford Motor Co. Ford Pro Accelerate Conference (Image: Ford)