Tradesmen produce goods of great value that last a lifetime. John Venediger 

More money for the trades. Tradespeople play a crucial role in our society, contributing to the construction and maintenance of our infrastructure, homes, and businesses. Let’s delve into this further:

1. Builders of Our Nation:

Tradespeople, including builders, bricklayers, carpenters, and roof installers, plumbers etc. are the backbone of our nation’s development. They create the physical structures that shape our communities.  Their craftsmanship and expertise are essential for constructing safe and functional buildings.

2. Fair Wages and Economic Impact:

The Department of Labor plays a pivotal role in ensuring fair compensation for tradespeople. It’s essential that they receive wages commensurate with their skills and contributions.  Gradually increasing minimum wages for tradespeople can uplift their standard of living and contribute to a stronger middle class.

3. Empowering Tradespeople:

When employers determine wages solely based on their discretion, it can lead to inequities. Tradespeople may struggle to make ends meet.

by paying higher wages, we empower tradespeople to invest in themselves and their families. This, in turn, stimulates economic growth.

4. Economic Boost Through Homeownership:

When tradespeople earn better wages, they can afford to buy or build homes. This has a cascading effect on the economy Increased demand for housing materials and services.  More stable communities as tradespeople become homeowners. Greater consumer spending, benefiting local businesses.

5. Addressing Wage Disparities:

Currently, a significant portion of wages intended for tradespeople ends up in employers’ pockets. Rectifying this imbalance is crucial. Fair wages not only benefit tradespeople but also contribute to a healthier economy overall.

In summary, recognizing the vital role of tradespeople and ensuring they receive fair compensation is essential for building a prosperous and equitable society.

Increasing the wages of trades people - The economic impact effect that this has on business and the economy is massive and can range from a small neighborhood to an entire country may experience an increased growth rate of 2 % or even the global economy. Here are some key aspects of economic impact of increasing the earning of trades people. Trades people are the wealth creators for you and i. For example, it is the trades that build our homes.

1. Business Revenue: This measures the total increase in sales revenue for businesses in the area. For example, a new shopping mall might boost sales for local stores.

2. Employment: This looks at the number of jobs created or lost due to the event. For instance, a new factory might create hundreds of jobs in a community.

3. Personal Income: This measures the increase in wages and salaries for local employees. A new business might lead to higher wages or more hours for existing workers.

4. Gross Regional Product (GRP): Similar to Gross Domestic Product (GDP), GRP measures the total economic output of a region. It includes the value of all goods and services produced in the area.

5. Indirect and Induced Effects: These are secondary effects that occur as a result of the initial economic activity. For example, employees of a new factory might spend their wages at local businesses, further boosting the economy

Economic impact analyses are often conducted to understand the potential benefits or drawbacks of proposed projects or policies. They help policymakers and stakeholders make informed decisions by estimating the overall economic benefits and costs. 

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