Ford Urges Investment in Essential Economy as 95 Million Workers Face Labor Shortages
Ford's report defines the Essential Economy—construction, manufacturing, energy, and more—employing 95 million workers and driving over a third of U.S. GDP, but warns of labor shortages.
- 95 million
- 3 million
- over a third
What Happened
95 millionworkers
drives over a third of U.S. GDP across 3 million businesses
- Construction
- Manufacturing
- Energy
- Public Services
- Transportation and Logistics
- Skilled Trades
The Essential Economy, which comprises these industries, employs 95 million workers across 3 million businesses and accounts for over a third of U.S. GDP. Despite its critical role, this sector faces significant labor shortages and declining productivity that threaten the nation's economic growth. Ford emphasizes the need for urgent collective action to invest in and innovate for these essential workers.
Why this matters
The Essential Economy includes jobs most people rely on, from construction to transportation. Ford says labor shortages and declining productivity in these sectors threaten U.S. economic growth and resilience. This affects every American who depends on essential services.
Terms in This Story
- Essential Economy
- A term used by Ford to describe industries such as construction, manufacturing, energy, and transportation that are critical to the U.S. economy.
Summarised from the linked release; details can be imperfect — always verify against the original source.