Industry Hiring Trends for Skilled Labor Trades in 2024

2024 Hiring Trends for Skilled Trades Industry

As we start to head into the last quarter of 2024, let’s take a look back at the U.S. skilled trades hiring trends in the first three quarters of this year. Our partner, BlueRecruit, helped put together this “State of the Trades” for 2024. Whether you’re hiring or looking to be hired, we hope this trend report for skilled trades in 2024 can give you an idea of what the industry is looking like this year.

Skilled Labor Overall Trends in 2024

The pandemic and 2020 saw a huge spike in the demand for skilled labor and, with it, rapid salary growth; although this has leveled out since then, skilled trades is still in high demand in 2024. Keep in mind though, while inflation has stayed stable since summer of 2023 (3%), wage increases have not been keeping up with inflation and the cost of living. The average wage increase in 2024, compared to the same period last year, has only been 0.98%.

Particularly, roles such as Carpenters, Auto Mechanics, and HVAC technicians continue to be seeked out since they consistently have a shortage of qualified workers. For context, the top five trades by average hourly wage in Q3 2024 are: Electricians ($42.61/hr), Plumbers ($38.69/hr), Auto Technicians ($37.37/hr), HVAC Technicians ($36.23/hr), Carpenters ($33.60/hr). For employers, it’s critical to understand wages since 56% of job seekers are open to relocating in the US - making the job market a national search, not just local. Employers will need to understand market conditions and offer competitive wages to be able to hire top talent.

Another interesting trend is that we’re seeing more and more employers’ have requirements while hiring in lower skilled trade levels - 44% of employers are requiring a clean criminal record and 61% are requiring a valid driver’s license. This upward trend is likely a sign of a tightening hiring market.

U.S. Skilled Labor Hiring Trends in 2024

The U.S. states leading the charge in skilled trade jobs include: North Carolina, Florida, and Pennsylvania. North Carolina, specifically, has been ranked as the top state for skilled labor jobs; while Texas has fallen off the top states for the first time since the pandemic. Other trending states include Colorado, Ohio, Illinois, Texas, California, Georgia and Wisconsin.

Despite these trends, keep in mind that the challenges the industry will continue to face for the rest of the year, and likely into 2025, are affordable housing, rising cost of living, high interest rates, and housing shortages.

Skilled Trade Home Construction Trends in 2024

More than ever, home construction is seeing an unprecedented demand for skilled workers. Trades centered around home construction or maintenance, like appliance repair techs, now make up 60% of the most needed professions in the country. Especially as mortgage rates continue to soar, this need will likely continue well into the future since many homeowners are hunkering down in their existing homes, meaning higher trends of routine updates and maintenance instead of buying new property.

How to Find Skilled Trade Workers or Work in the U.S.

If you need a helping hand getting jobs or finding skilled laborers, check out our partner - BlueRecruit. They match skilled tradespeople to hiring companies based on the experience and certifications the job demands.

A part of the requirements and certifications that many contractor jobs and companies look for is insurance. Foxquilt makes it easy to meet those requirements and get you on the jobsite, fast. Our online platform automatically tailors your policy based on the type of work and how much of it you do - saving you money and making sure you’re fully protected. Better yet, you can get a quote and purchase your policy whenever, wherever; it only takes a few minutes, all online. Try it out today at https://join.foxquilt.com