Ford CEO Jim Farley expressed optimism about President Trump’s push for more US-made products but highlighted potential challenges due to a shortage of skilled workers. Industry leaders convened at Ford’s Pro Accelerate summit, emphasizing the importance of investing in workforce development to support critical sectors contributing $12 trillion to GDP and 95 million jobs.

Farley stressed the need for real programs to support the president’s policies and address the growing demand for US-made products. The essential economy, encompassing industries like construction, transportation, and energy, faces workforce shortages as older workers retire and younger generations perceive certain jobs as too demanding.

A survey by PRT Staffing revealed that 17.4% of manufacturing companies report worker shortages, with projections indicating the need to fill 3.8 million manufacturing jobs over the next decade. Ford announced over $5 million in new workforce development investments to enhance skills training and expand educational programs for K-12 students in Michigan and Tennessee.

Bipartisan Policy Center senior adviser Theresa Cardinal Brown warned of looming labor shortages in critical industries, emphasizing the need for proactive measures to address workforce challenges. As the US economy faces risks of labor shortages, investments in workforce development and skills training are crucial to sustain essential industries and support economic growth.

Read more at finance.yahoo.com: Ford CEO Jim Farley says skilled labor shortage holds back ‘made in America’ ambitions