Sandra Lawson
Managing Director, Global Corporate Affairs
Building America: investing in infrastructure and the workforce
Key points
A generational infrastructure opportunity
The US needs to invest roughly $10 trillion to build AI and traditional infrastructure, boosting demand for jobs in skilled trades that can lead to resilient careers.¹
Labor demand is rising faster than supply
Skilled trade jobs are projected to outpace overall US workforce growth, but training capacity lags rising demand and retirements.²
Apprenticeships expand access to opportunity
Earn-and-learn pathways lower the cost of entry, provide structure and mentorship and equip workers with durable skills that are difficult to offshore or automate.
Innovative partnerships are scaling solutions
Coordination among labor leaders, governments, employers and educators is crucial to meeting the fast-changing needs of the labor market.
From opportunity to reality
The US faces a generational infrastructure moment. Roughly $10 trillion will be needed by 2033 to build AI-driven infrastructure and modernize traditional assets such as roads, railways and ports. Infrastructure is not just about physical capital: it also requires human capital. Demand for skilled trades like electricians, HVAC technicians and plumbers is projected to grow faster than the national average, creating hundreds of thousands of new roles.
The opportunity now is to ensure that the benefits of the infrastructure buildout can be widely shared by scaling training, broadening recruitment and aligning education with industry needs.
The opportunity in skilled trades
Building infrastructure can create pathways to financially secure careers, particularly for people who do not pursue a four-year college degree. Skilled trades typically pay above-average wages, with electricians, plumbers and ironworkers earning materially more than the median US worker. Labor shortages, driven by rising demand and retirements, are likely to keep upward pressure on wages. Many of these roles also offer benefits such as retirement savings and health coverage.
Skilled trades offer structural advantages: apprenticeships lower the upfront cost of entry by allowing individuals to earn while they train; hands-on skills are difficult to offshore or automate; and formal training and certification help sustain earnings power and career progression. The result is an accessible, durable career pathway that combines strong economics with long-term job security.
Investing to close the gap between supply and demand
Demand for skilled labor is rising quickly, but supply is not keeping pace. In fields like electrical work, current training capacity is insufficient to offset projected growth retirements.3 With many supervisors nearing retirement, the skilled trades face a demographic challenge.4 Closing the gap will require scaling registered apprenticeships, which serve as the primary pipeline into these careers, and strengthening collaboration among governments, unions, employers, colleges and nonprofits.
Across the country, stakeholders are responding with practical solutions: expanding outreach to high school students, veterans and underrepresented groups;5 aligning training more closely with employer needs; integrating classroom instruction with paid, on-the-job learning;6 modernizing curricula through hybrid and technology-enabled models;7 improving geographic mobility; and introducing innovative funding mechanisms, including tax credits, performance-based funding and new Workforce Pell Grants.8 Embedding financial literacy into apprenticeships further supports completion rates and long-term financial success.9 Together, these efforts aim to ensure the US has the workforce needed to deliver on its infrastructure ambitions while expanding access to durable economic opportunity.
Author
BlackRock
As a global investment manager and fiduciary to our clients, our purpose at BlackRock is to help everyone experience financial well-being. Since 1999, we've been a leading provider of financial technology, and our clients turn to us for the solutions they need when planning for their most important goals.
©2026 BlackRock, Inc. All rights reserved.