We live in a remarkable country, a place with an incredible abundance of resources, economic and social stability, and the fulfillment of human ingenuity at scale. There are so many reasons to be thankful for what we have access to, for there are billions in the world that lack even the basics necessities. People that struggle in poverty, war, famine, disease, and insecurity at every level. For those of you that have had the chance to travel the globe, you have likely witnessed and appreciate the challenges they face.
However, you don’t need a passport to see that there are very real problems right here in the land of opportunity, especially for young people that lack the stability of a supportive family, or the financial means and tools to transition into adulthood. These obstacles can hinder their ability to access education, affordable housing, healthcare, and other important resources needed for personal growth and development. But unlike many other countries that lack access to even basic employment, we have an embarrassment of riches, more open jobs than workers to fill them. If every unemployed person in the country found a job, we would still have millions of open jobs.
There are myriad reasons why labor participation is at record lows, (a slow recovery from the pandemic, unwillingness to take jobs without remote options, lack of access to childcare, etc.). But for those actively looking for a job, one that provides a career path, and a living wage, the skilled trades are begging for you to apply. There are over three million open jobs in skills-based careers, with millions more not requiring a college degree, but an industry certification. Training for nearly all these roles takes less than two years and the cost of many of these programs are completely covered by employers, state and local incentive programs, or financial aid (like BPI’s scholarships).
The US Department of Commerce recently published an article, Understanding America’s Labor Shortage, highlighting that even if every open job was filled, the US would be 1.7 million Americans missing from the workforce since 2020. It is not that we don’t have enough workers, it is that those choosing to work have been on a continuous decline for years.
The disturbing fact is that for every Baby Boomer that retires, only two younger workers enter the workplace, that’s a 5:2 ratio. In the skilled trades, the average age is 55. The US urgently needs the full participation of a younger, skilled workforce. I remain convinced that Gen Z is not lazy, rather they are driven, and seeking skills to transform the world. So why are they not being encouraged to fill these critical and lucrative roles? It is the parents and society that need to stop pushing the myth that being a skilled worker is somehow less valuable than a college education. With the plummeting enrollment and completion rates in colleges, it is evident that traditional pathways to success are changing rapidly.
This remains a country of incredible opportunity and filled with entrepreneurs. According to the US Department of Commerce, in 2023, 5.5 million new businesses were started, continuing a trend of record-high numbers of new business applications being filed over the last several years. There have already been 884,981 new business applications filed in 2024. Many of these new companies are being formed by people without a college degree, lacking six figures of student debt, and having mastered an in-demand skill. Many will experience tremendous success, employing others, and growing our economy.
At BPI, we recognize the value of skills-based careers and are committed to destigmatizing and dismantling the barriers to access educational opportunities for under-resourced students. Apart from providing financial support, BPI also collaborates with nonprofit partners to offer comprehensive assistance to the students we support. These wraparound services address additional challenges that students may face, such as mentoring, transportation, child-care, food security, language support, and apprenticeships. By working together, we can empower young people to overcome obstacles and pursue fulfilling careers aligned with their goals.
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