Ford CEO says he has 5k open mechanic jobs with 6-figure salaries
9 days ago
- #trade schools
- #labor shortage
- #manufacturing jobs
- Ford's CEO Jim Farley highlights a shortage of skilled labor in the U.S., with 5,000 unfilled mechanic positions at Ford despite $120,000 salaries.
- Farley points to a broader national issue, with over a million openings in critical jobs like emergency services, trucking, and trades.
- Despite a 4.3% unemployment rate, there were over 400,000 open manufacturing jobs in August, with recruitment and retention being top challenges.
- Farley emphasizes the historical importance of trade jobs, citing his grandfather's work on Ford's Model T as an example of building a middle-class life.
- Ford has improved wages, eliminating the lowest tier and agreeing to a 25% salary increase over four years in its 2023 UAW agreement.
- Farley identifies a lack of education and training as a key issue, noting that mastering skills like diesel engine removal takes at least five years.
- Gen Z is increasingly turning to trade schools to avoid student debt and secure well-paying jobs, with vocational school enrollment up 16% last year.
- However, top-paying jobs (over $200,000/year) still mostly require advanced degrees, according to a study by job platform Ladders.