During an appearance on FOX Business, Home Depot (NYSE:HD) co-founder Ken Langone pointed out how the skills gap is hurting multinational corporation Honeywell (NYSE:HON) while discussing President Trump’s immigration reform plan.
“David Cote, the retired CEO of Honeywell told me a couple of weeks ago, four weeks ago, that Honeywell has thousands of jobs it can’t fill because they can’t find people with the skill set and these are high paying jobs. We’re not talking about $30K or $40K a year jobs, we’re talking substantially higher,” Langone said.
Currently there are about 5.7 million job openings in the U.S., according to the Labor Department. Under President Trump’s proposed plan, those who possess skills that can benefit the U.S. economy will be favored. In Langone’s opinion, this makes sense.
“Filling those jobs will create additional jobs, that’s how the economy works.”