KEY POINTS
-
Asset manager BlackRock announced a $100M Future Builders Initiative that aims to train 50,000 skilled trades workers over five years to meet growing U.S. infrastructure demands.
-
Construction wages are on the rise, ConstructConnect recently reported, with average hourly pay in construction reaching $40.55 in January 2026, with weekly earnings 25% higher than the private sector average.
-
The BlackRock initiative aligns with industry trends, tackling the skilled labor gap in critical trades like electricians, plumbers, and HVAC technicians.
Asset manager BlackRock announced a $100 million philanthropic initiative, the Future Builders program, to address the growing demand for skilled trades workers in the United States.
Funded by The BlackRock Foundation, the program aims to train 50,000 Americans over the next five years, providing access to skilled trades training, licensure support, and financial education to foster long-term economic security.
“As the U.S. faces historic infrastructure demands, capital alone is not enough – people are central to building our nation’s future,” said Larry Fink, Chairman and CEO of BlackRock.
The initiative will focus on critical trades such as electricians, HVAC technicians, plumbers, and ironworkers, which are essential for modernizing the nation’s infrastructure.
Rising Demand for Skilled Trades
As the country sees the need for historic investment in infrastructure, demand for workers in skilled trades such as electricians, HVAC technicians, plumbers, and ironworkers continues to accelerate.
In a statement, the company said, "Over the next decade, employment in U.S. infrastructure–related skilled trades is projected to grow by more than 5% — outpacing the national average of 3% — representing hundreds of thousands of net new jobs."
"Matching the pace of demand for these skilled workers is essential to enabling the next phase of economic growth."
Rising Wages Reflect Growing Demand in Construction
The Future Builders initiative comes at a pivotal time for the construction industry. According to ConstructConnect Chief Economist Michael Guckes, construction wages have continued to rise, with average hourly pay reaching $40.55 in January 2026—a 3.8% increase from the previous year. Weekly hours have also grown, pushing average weekly earnings to $1,590, approximately 25% higher than the average private nonfarm worker.
These trends underscore the increasing demand for skilled labor, driven by the need for infrastructure modernization and expansion. In January 2026 alone, the construction sector added 33,000 jobs, marking the second-largest monthly gain in over two and a half years.
Bridging the Skilled Labor Gap
BlackRock’s initiative is designed to address the skilled labor shortage by collaborating with governments, labor organizations, and nonprofits to scale effective training programs.
The program will also integrate financial education and digital savings tools to help workers achieve economic security from their first paycheck through retirement.
The initiative builds on BlackRock’s broader philanthropic efforts, which have included $354 million in grants since 2020, supporting over 250,000 individuals through education and workforce training programs.
The Future Builders program is expected to play a key role in meeting the nation’s $10 trillion infrastructure investment needs by 2033.
A Collaborative Effort for Economic Growth
The Future Builders initiative was a focal point at BlackRock’s U.S. Infrastructure Summit in Washington, D.C., where policymakers, corporate leaders, and labor organizations convened to discuss strategies for accelerating infrastructure development.
Ruth Porat, President and Chief Investment Officer of Alphabet and Google, praised the initiative, stating, “Only through collective investment can the public and private sectors ensure all Americans have an opportunity to benefit from AI's upside.”
BlackRock is the world’s largest asset manager, with a mission to help more people achieve financial well-being. As a fiduciary to investors and a provider of financial technology, BlackRock manages trillions of dollars in assets globally.
Through its philanthropic arm, The BlackRock Foundation, the company funds initiatives that strengthen financial security and expand economic opportunities.
Stay Connected
Stay connected with ConstructConnect News for construction industry news and construction market analysis to stay ahead of what’s building next.
About ConstructConnect
At ConstructConnect, our software solutions provide the information construction professionals need to start every project on a solid foundation. For more than 100 years, our insights and market intelligence have empowered commercial firms, manufacturers, trade contractors, and architects to make data-driven decisions and maximize productivity.
ConstructConnect is a business unit of Roper Technologies (Nasdaq: ROP), part of the Nasdaq 100, S&P 500, and Fortune 1000.
For more information, visit constructconnect.com
