The U.S. economy is facing a shortage of skilled workers that is impacting the construction and manufacturing industries in particular, prompting a search for a new talent pipeline.
RedBalloon CEO Andrew Crapuchettes explains how the baby boomer generation has left a stigma on blue or mixed-collar work.manufacturing industries
"The problem that we’re facing today is that a lot of the workforce that’s been engaged in those roles is retiring and we’re not replenishing the workforce with new recruits into these jobs because the Millennial and Gen Z generations – they kind of grew up with a different idea in mind of what was a well-paying and what was a very meaningful job," Aidan Madigan-Curtis, a partner at venture capital firm Eclipse Ventures, told FOX Business.
Madigan-Curtis noted that the shortage of skilled workers is delaying work on projects funded by the CHIPS Act – which provided $52 billion in subsidies aimed at boosting the– because U.S. chipmakers are dealing with a shortage of workers to build the fabs, including electricians and workers in other trades, and to operate them. She added that there’s currently a shortage of about 750,000 machinists and welders which is expected to climb to 2 million to 2.5 million in the next several years.
A worker welds together bumpers for a three-wheeled electric fun utility vehicle at the Arcimoto manufacturing facility in Eugene, Oregon. - There's a shortage of roughly 750,000 machinists and welders impacting the manufacturing and constructi
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