The age of COVID is an uncertain time for everyone, but particularly for young people expecting to graduate. Job prospects are few and far between. According to Canadian Imperial Bank of Commerce economist Royce Mendes, “Canada’s labour market not only slammed on the brakes, it made a U-turn in December.”
However, there is one market with a very different problem. The skilled trades industry is facing a severe shortage – there is an enormous demand for jobs and not enough people to fill it. Even with record unemployment, countless skilled jobs are left unfilled because no one is trained or willing to do them. This means there are very real gaps that limit Ontario’s competitiveness and our economy.
The solution will be getting more young people interested in the trades. According to the provincial government, Ontario needs 26,000 additional skilled trades workers over the next eight years to keep pace with current demand. In fact, they have invested $43-million in expanded youth training programs to make it happen.
However, opportunities in the trades tend to be poorly understood by many. For those still uncertain, below are three facts you may not know – and should.
1. Job Stability for Years to Come
A career in skilled trades is one of the most stable paths one can take. Even during recessions or pandemics, the trades prove to be a resilient career choice. There are jobs today, and there will be jobs tomorrow. How many industries are there where we can say that with confidence?
Even within Peterborough, job opportunities continue to be abundant. A recent study from U-Haul found that Peterborough has the 12th highest growth rate in Canada. More people are moving to Peterborough city and county than leaving, which means there will continue to be even more work as real estate keeps climbing.
2. High Annual Salary
The skilled trades industry is one of the few that has high demand and high pay. The trades are where the money is.
Skilled tradesmen are some of the highest-income earners, and their education is often paid for by their employer. You can graduate with little to no debt, on-the-job experience and incredible job prospects that offer good benefits and a high salary.
3. Earn While You Learn
Student debt in Canada is continuing to climb. According to Statistics Canada, half of University graduates in 2015 left school with a median amount of $17,500 in student loans.
Apprenticeship programs in the trades offer a way around hefty student loans, since apprentices are paid for the work experience portion of their training. This means investing in an education in the skilled trades will quickly pay for itself as it provides an opportunity to build a strong skill set, increase income and better career prospects.
We’re all worried about how this pandemic will affect things moving forward. But for those thinking about their careers – or their kids’ – the skilled trades offer a real solution. The trades built our community – and they’re going to rebuild it.