HomeAdvisor Releases New Skilled Trades in America Report Highlighting Significant Job Opportunity in $500B Home Services Industry

Rhea-AI Summary

HomeAdvisor released a report titled Skilled Trades in America, examining job opportunities within the $500 billion home services industry. The survey revealed that 82% of skilled trades professionals are satisfied with their careers, yet 71% report a shortage of skilled labor. Only 10% of workers in certain trades are women, highlighting diversity issues. Recommendations include improved recruitment via vocational programs in high schools and enhancing the perception of blue-collar work. The report is based on responses from 3,766 professionals during late 2019 and early 2020.

Positive

• 82% of skilled trades professionals express satisfaction with their career choice.
• The skilled trades sector presents significant job growth potential within a $500 billion industry.
• The average age of business owners in skilled trades is 43, indicating a youthful entrepreneurial spirit.

Negative

• 71% of trades professionals perceive a shortage of skilled labor, worsening over the past five years.
• Diversity is lacking, with women comprising only 10% of certain trades and significant underrepresentation of BIPOC workers.

DENVER, Oct. 7, 2020 /PRNewswire/ -- Today, HomeAdvisor, a leading digital marketplace evolving the way homeowners connect with service professionals to complete home projects, released Skilled Trades in America, a report that examines America's home service professionals and identifies the ways in which the industry can strengthen, grow, and diversify its labor force. Pros agree that there is a massive job opportunity in this field and that bringing more people into it begins with better recruitment of women and BIPOC.

The report found that the industry is filled with entrepreneurs and small business owners who are often happy, successful and generally optimistic about their personal businesses and the value they provide. Skilled trades in home services is overwhelmingly composed of small businesses: in some home professions the number of sole proprietorships can be greater than 60% of the total. 82% of survey respondents said they are satisfied in their professional choice. Additionally, with relatively low barriers to entry, both in business formation and in education, the average age of a company owner with employees in the skilled trades is 43, nearly 30% younger than the average CEO age of 59.

Despite being satisfied with their work and the opportunity to grow a business from a young age, 71% of pros think there is still a shortage of skilled tradespeople, with 4% thinking it has gotten better over the last 5 years and 73% thinking it has worsened in the same time period. Pros working in electrical, plumbing and HVAC are more concerned about the shortage of skilled labor than are people in cleaning, pest control and drywall.

"The skilled trades present a major opportunity for employment and job growth for all individuals, especially at a time when our country is experiencing high unemployment rates and there is an overwhelming need for more skilled pros," said Mischa Fisher, Chief Economist at HomeAdvisor.

Pros agree that the labor shortage can be addressed with better recruitment, especially given the pronounced absence of women and people of color in the trades. One in ten workers in the electrical, decks and flooring trades are women. In the remodeling, painting and pest control spaces women account for 20-30% of workers. Cleaning has the majority share of women tradespeople at roughly 65% of the workforce. Examining the share of a range of occupational skills against demographic representation relative to the country, Black and Indigenous people are substantially underrepresented relative to their share of the population. For example, among carpenters the Black share is 60% smaller than demographics would suggest.

To improve recruitment efforts, 75% of pros say that vocational programs in high schools would have a moderate to major effect on getting more people into the skilled trades. 60% believe expanded funding for scholarships and trade schools would make a difference in improving the shortage. 31.9% also said that improving the perception of blue-collar work would have a major effect in getting more people in the trades.

Fisher continues, "By diversifying the training pipeline, adopting new recruitment tools and strategies and reframing how the industry presents itself to the world, home services entrepreneurs and SMBs can reach a broader base of customers and build more inclusive, equitable—and successful—businesses." 

To read the full Skilled Trades in America report, click here.

This report was informed by survey data gathered from 3,766 skilled trades professionals between December 3^rd 2019 and February 2^nd 2020. You can find resources for people looking to join the skilled trade community at this link: https://www.homeadvisor.com/research/how-to-enter-the-skilled-trades/

About HomeAdvisor
HomeAdvisor® is a digital marketplace evolving the way homeowners connect with service professionals to complete home projects. With HomeAdvisor's on-demand platform, homeowners can find and vet local, prescreened home service professionals; view average home project costs using True Cost Guide; and instantly book appointments online or through HomeAdvisor's award-winning mobile app, which is compatible with all iOS, Android and virtual assistants, including Amazon Echo. HomeAdvisor is based in Golden, Colo., and is an operating business of ANGI Homeservices, Inc. (NASDAQ: ANGI). 

 

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SOURCE HomeAdvisor

FAQ

What does the Skilled Trades in America report by HomeAdvisor reveal?

The report identifies job satisfaction among skilled trades professionals but highlights a significant labor shortage and lack of diversity.

How many skilled trades professionals were surveyed for the HomeAdvisor report?

HomeAdvisor surveyed 3,766 skilled trades professionals.

What are the recommendations for improving the skilled trades labor force?

Recommendations include enhancing recruitment through vocational programs in schools and improving the perception of blue-collar work.

What is the significance of the $500 billion home services industry mentioned in the report?

The report emphasizes that this industry presents substantial job opportunities amid a skilled labor shortage.

What demographic challenges are highlighted in the Skilled Trades in America report?

The report notes a severe underrepresentation of women and BIPOC individuals in the skilled trades workforce.