Trade schools see student boom for offering careers ‘within grasp’
Low attendance cost, strong skilled worker demand credited for up to 40% new student growth at trade schools
With the number of U.S. job openings rising to 11.5 million at the end of March, trade schools are finding a growing demand for their low-cost, low-time commitment programs that produce big payouts.
Student enrollment among agriculture, construction and transportation schools has increased up to 40%, according to new data from National Student Clearinghouse. Many programs require just one year of training, and typically cost less than $16,000, while a traditional four-year collegiate institution costs on average $100,000.
"These are careers that are within their grasp in a short time," Eastwick College founder and president Tom Eastwick told FOX Business’ Lydia Hu. "Right now, we're talking about 20 jobs for every graduate."
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Teachers at HoHoKus School of Trade in Paterson, New Jersey, also told Hu their welding certification takes just six months to complete, making its quick turnaround a "big motivator" for new students.
Workers who were more willing to job hop often received double-digit pay increases, one analysis found, which Hu pointed out could prove beneficial for a skilled workforce with millions of job openings.
The labor data further emphasizes how newly empowered workers are quitting their jobs in favor of better wages, working conditions and hours as businesses lure new workers with higher salaries – a new trend dubbed the "Great Resignation."
As a result, Americans' incomes are rising across the board as employers have ramped up hiring to offset the losses.
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Eastwick told Hu that over the last six months, employers have been calling, emailing and even texting to recruit recent graduates.
"I have to tell you, speaking with the students here," Hu noted, "they are passionate, and they are talented."
FOX Business’ Megan Henney contributed to this report.