00:00America's blue-collar worker shortage is getting worse, and Lowe's is investing $250 million to
00:05close the gap. The shortage of skilled trade workers is everywhere, from electricians to
00:10plumbers and carpenters. The Associated Builders and Contractors estimates that about 350,000
00:15net new workers are needed in construction services alone to meet the demand. Next year,
00:20that number is expected to grow to about 450,000. I spoke to Lowe's CEO Marvin Ellison. He told me
00:26while he's personally bullish about artificial intelligence, ultimately it can't fix this
00:30workplace shortage because AI can't climb a ladder, it can't replace your furnace filter, and it can't
00:36repair a hole in your roof. The home improvement giant has previously invested $50 million in the
00:40skilled trades world, but because the worker shortage is only getting worse, it's amped its investment to
00:45$250 million, a five times increase. The investment seeks to train 250,000 students by 2035, providing
00:52funding to nonprofits at community colleges across the country. These schools will teach training in
00:56skills like carpentry, electrical work, and plumbing. For the Lowe's CEO, this issue is personal. One of his
01:02brothers went to vocational school and became a welder, and he told me that we need to do a better
01:07job of presenting skill trades as rewarding viable careers, not just backup plans.
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