The $326 Billion Cost of Silence: The National Economic Impact of the Trades Shortage
If we don’t change the trajectory of the skilled trades, the American economy is headed for a $326 Billion hit to its GDP. Currently, the trades are a massive engine, supporting 5.6 Million direct jobs and contributing nearly $1.3 Trillion in total output. But that engine is running out of fuel. If the 25% projected gap in trades jobs is not filled, the “lost opportunity” cost is staggering.
The Cost of the Gap
The deficit isn’t just about “missing workers”—it’s about missing prosperity. If we fail to fill these 1.4 million trades positions projected to be open by 2030, the ripple effect will cost the broader economy:
- 2.8 Million Total Jobs Lost (Direct, Indirect, and Induced)
- $210 Billion in lost paychecks for American families.
- $71.3 Billion in lost tax revenue for local, state, and federal governments.
Why This Matters to You
When we lose over $71 billion in tax revenue, we lose the ability to fund schools, roads, and emergency services. The trades shortage isn’t just a “contractor problem”—it’s a community problem.
The Upside: What if we close the gap?
If we can reverse the 5-to-2 retirement trend and fill these roles, the combined footprint of the trades would rise to 13.8 million jobs. Closing the gap strengthens household stability, increases local spending power, and ensures that the infrastructure we rely on every day remains functional.
