Gen Z is trading degrees for tool belts. Trade school benefits outweigh college costs.

2024-12-25 11:14:30 source:lotradecoin supported cryptocurrencies list category:News

As the Class of 2024 graduates hold their new high school diplomas, skilled trade businesses are making a strong bid for their futures. For years, young people have been told that a college degree is essential for a good career, but a recent survey by my company found that Gen Z may have doubts about this advice.

In fact, 83% of those surveyed feel that learning a skilled trade can be a better pathway to economic security than college ‒ including 90% of those already holding college degrees. Meanwhile, TikTok is teeming with trade-related content drawing billions of views. News outlets from The Wall Street Journal to NPR have hailed “the toolbelt generation.”

At a time when tuition costs are soaring and artificial intelligence threatens to displace traditional office jobs, Generation Z ‒ spanning 1997 to 2012 ‒ is exploring a better life they can build with their own hands and by starting their own small business.

Young people's interest in skilled trades goes beyond social media trends. Thumbtack's survey of 1,000 U.S. adults ages 18-30 and more than 800 adults employed in the skilled trades found that of those who took shop class in high school, 86% said it was one of their favorite classes.

More than 70% express a high level of respect for the skilled trades. That’s more than tech workers, lawyers, bankers or government workers. And 47% want a career in the skilled trades. 

For a generation characterized by both practicality and a desire for autonomy, it's easy to understand the appeal. Asked about the advantages of these professions over an office job, more than 80% mentioned each of the following: a more flexible schedule; a less expensive education and/or less debt; a faster educational program; better job readiness and the ability to be your own boss.

Gen Z doesn't want to be bound by desks or AI

The rapid rise of generative AI points to another compelling draw for skilled trade jobs. Workers with a bachelor’s degree are more than twice as likely as those without to be at the greatest risk from AI, according to the Pew Research Center.

At the same time, a list of careers least affected by AI in a working paper by OpenAI includes areas such as electrical work, plumbing, roofing, masonry and painting.

College applications lack true cost,adding to the student loan debt crisis

After all, ChatGPT can do a lot of things, but it can’t help homeowners hang drywall for an addition, rewire a garage for an electric car, paint the nursery for a new baby or unclog the kitchen sink in time for Thanksgiving dinner.

Faced with the prospect of deskbound days and algorithm-driven tasks, it would be understandable for Gen Z to idealize the hands-on nature of the skilled trades and the autonomy of having your own small business.

But they’re not wrong about the benefits of these careers. Among adults primarily employed in the skilled trades within home services, my company found that 87% are happy with their jobs, 95% are optimistic about their potential to make more money and 95% are optimistic about their job security. A full 94% would encourage their own kids or family members to pursue this type of career.

Meanwhile, in recent years, a shortage of qualified plumbers, carpenters and other tradespeople has contributed to wage growth for non-college workers at a higher rate than degree holders.

Can I afford to send my kids to school?This question helped me see other options.

Our future is in skilled trades

This isn’t to say that skilled trades are immune to innovation. New technologies from digital blueprinting and 3D printing to eco-friendly building materials are transforming the field, while smart home systems, high-efficiency appliances, solar panels, geothermal heat pumps and other next-generation fixtures are expanding the types of service customers need.

In a changing world, new skills will be essential for long-term career advancement and success. 

And the demand for skilled trades professionals is clear. Since 2021, the Bipartisan Infrastructure Law has released over $280 billion allotted for transportation infrastructure, much of it for repair and maintenance work.

Much of the country faces a dire shortage of affordable housing; growing the nation’s ranks of builders will help bring down construction costs and shorten timelines for new homes. Adapting to climate change will call for vast new investments in our built environment and physical infrastructure. 

Realizing college isn’t the only path to a well-paying job represents a long-overdue cultural shift. Skilled trades professionals love their jobs, earn a good living and do important work. For many in Gen Z, that’s more than enough reason to rethink their future.

Marco Zappacosta is the CEO and co-founder of Thumbtack, a technology company helping millions of people care for and improve their homes.

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