2026 Update: According to the U.S. Bureau of Labor Statistics, the skilled trades sector faces a shortage of 3.5 million workers by 2030. In 2026, average wages for journeyman electricians reached $38/hour, HVAC technicians $35/hour, and master plumbers $42/hour — all up 12-18% from three years prior. Employers who conduct annual compensation reviews retain 40% more skilled workers than those who don’t.