STOCKS | Lowe's CEO Leads New Skilled Trades Coalition

Lowe's CEO Marvin Ellison has launched what he called the largest cross-industry skilled trades coalition in U.S. history. According to Sina Finance, the alliance aims to train 1 million plumbers, electricians, roofers, welders, and other skilled workers by 2035. The coalition includes community colleges, industry groups, nonprofits, and companies such as Nvidia, Bank of America, AT&T, and General Motors. Lowe's Foundation has also pledged $250 million over the next 10 years to address the skilled labor shortage. Ellison said artificial intelligence is reshaping work, but people will still be needed to repair leaks under sinks, service HVAC systems, and handle construction work for data centers. He also said the shortage of skilled workers is severe, citing U.S. Department of Education data that the country could face a gap of 2.1 million skilled trades jobs by 2030, with potential annual economic losses of up to $1 trillion. Other companies have already launched similar programs. In June, Meta and Google both announced tens of millions of dollars in funding for construction and skilled trades training initiatives. Ellison said Lowe's is working with community colleges, vocational schools, and other organizations with training and certification capabilities to expand training and create stable career pathways. AT&T CEO John Stankey said broadband networks are becoming more important as artificial intelligence and other emerging technologies become more deeply integrated into daily life. Bank of America CEO Brian Moynihan said the company is committed to creating more skilled trades jobs, developing talent, supporting local economies, and strengthening U.S. competitiveness.