CEOs discuss why skilled trades are essential to the economy during Ford event

The essential economy is not a category on a spreadsheet, Ford CEO Jim Farley said during the “ACCELERATE the Essential Economy” event Wednesday. 

“It might be a grandfather, an aunt, or even a kid,” Farley said. 

The essential economy is made up of industries that are comprised of skilled workers, such as, construciton, manufacturing, energy, public services, transportation and logistics.

Farley added that the nation has looked past skilled jobs for decades and the economy is at risk because of this. 

“It is not going to be solved overnight, but we are going to get a lot more done if we do it together,” Farley said. 

The first ACCELERATE event was held last year. Farley said the event set three priorities: gather facts, train more people, and break stereotypes. 

The Alliance for America’s Skilled Trades, formed following last year’s ACCELERATE event, released “The State of America’s Skilled Trades: A National Report” Wednesday. It found that training programs are producing 55 workers for every 100 needed in the skilled trades. 

Ford, BlackRock, Google, and Carhartt founded the Alliance for America’s Skilled Trades earlier this year. Fourteen new corporations were announced as joining Wednesday. 

Farley says that more than $1 billion has been invested in training for skilled jobs by those who attended Wednesday’s event. 

This includes a $5 million investment by Ford and Bloomberg Philanthropies to modernize auto technician programs at two schools within Detroit, with plans to expand the program nationally. 

The Ad Council is also working on a national social impact program to change the perception of skilled jobs, Farley said. 

“My grandfather was an hourly worker for Ford and his skilled trade job at Ford put my mom through college,” Farley said. “These jobs are good jobs; they changed America, and they can change America again.” 

Ruth Porat, Alphabet and Google CEO, said that after touring skilled worker training facilities across the nation, she’s learned how important the jobs are to communities. 

Workers in facilities often told her it was not a job, but a career. 

“I was in the middle of the country, and somebody said to me that, ‘Our greatest export has been our children because they don’t see hope in my town. They don’t see a career for themselves in my town, and now they do,’” Porat said. 

Larry Fink, CEO of BlackRock, said that as the largest investor of retirement savings, his job is to focus on the long term. 

“I have never been more optimistic about the United States in my entire career,” Fink said. 

He said that rebuilding the essential economy is a “huge investment opportunity to rebuild America.” 

“These men and women can have a career in a trade where they can have a middle-class job and throughout their career they will be able to save enough for their retirement,” Fink said. 

Hopefully, the workers will reinvest back into America, he added. 

Linda Hubbard, Carhartt CEO and president, said her company has celebrated and valued the skilled trades since its start. 

“We’ve been waiting for decades for everybody to get on board,” Hubbard said. 

She added that it felt like skilled trade workers were invisible. 

“If youngsters see themselves in these roles, in these very cool jobs that are building, growing, making, fixing America and the world, if they see themselves in it, their families will encourage them to explore it more,” Hubbard said. 

Farley said it is important that the nation starts investing in these jobs because it will mean longer wait times and higher costs for essential needs, such as vehicle repair. 

“It is a solvable thing,” Farley said. 

During the event, Farley directed the audience to data in the new report, saying high-quality apprenticeships that included apprentice support were more likely to lead more workers into the essential economy. He added that additional support could be health care or transportation. 

The report found traditional training methods had only about a 50% completion rate. It also found that high-quality apprenticeship programs have a completion rate of more than 90%. 

Farley said finishing a program can be difficult if you aren’t getting paid and you have a family at home that needs health care and food. 

“We need the social programs to help and support, and we need the programs to be accredited and we employers to be connected to these apprenticeships so that the people have a job,” Farley said.

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Featured image: Ford CEO Jim Farley speaking during the 2026 ACCELERATE the Essential Economy event on Sept. 30./Courtesy of Ford.