LANSING, Mich. (WLNS) Thinking of going into the skilled trades? The U.S. is facing a shortage of skilled trade laborers. Research shows this is due to several factors, including the culture’s emphasis on getting a four year college degree and an increasing number of retiring Baby Boomers. The shortage of skilled trade labor has pushed up wages in these occupations. According to data from the Bureau of Labor and Statistics, the median annual income for skilled wage jobs is $47,428 that’s nearly 20-percent higher than that of all workers.
The analysis found that over the past two years, Michigan has experienced a growth of 3.9% in the employment of skilled trade workers. The median annual wage for skilled trade workers is $48,545, which is greater than the national figure of $47,428. Out of all states, Michigan is the 19th best for skilled trade workers.
Here is a summary of the data for Michigan:
- Median annual wage for skilled trade workers: $48,545
- New residential construction spending per skilled trade worker: $16,411
- Employment growth for skilled trade workers: 3.9%
- Private union membership: 9.8%
- Cost of living (compared to the national average): -7.6%
Here is the summary data for the United States:
- Median annual wage for skilled trade workers: $47,428
- New residential construction spending per skilled trade worker: $37,164
- Employment growth for skilled trade workers: 6.0%
- Private union membership: 6.2%
- Cost of living (compared to the national average): N/A
For more information, a detailed methodology, and complete results, you can find the original report on Porch’s website: https://porch.com/advice/best-cities-for-tradesmen/