Ford Motor Co. (NYSE:F) CEO Jim Farley has reiterated the importance of skilled technicians for the automotive industry in the U.S. and lamented a shortage of workers in the U.S.
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‘5,000 Openings, $120,000/Year'
Speaking at an appearance on the Office Hours: Business Edition podcast on Wednesday, Farley shared the importance of skilled workers for the U.S. economy. "We are in trouble in our country," Farley said, adding that the U.S. currently has over a million openings in critical jobs, emergency services, factory workers and more.
"We are not investing in educating a next generation," Farley said. Speaking about the openings at Ford, the CEO outlined that there were openings at dealerships. "As of this morning, we have 5,000 openings. A bay with a lift and tools and no one to work in it," Farley said. He added that it was a "$120,000 a year job," but it takes five years for technicians to learn the skills.
A ‘Self-Defense' Issue
"Take a diesel out of a Superduty; it takes a lot of skill. You need to know what you’re doing," Farley shared during the interview.
Speaking about the importance of skilled workers, Farley said that Alphabet Inc.'s (NASDAQ:GOOGL) (NASDAQ:GOOG) Google wouldn't be able to make tanks and planes "if we ever get in a war." Farley warned that the lack of technicians was a "self-defense" issue for the U.S.
Ford's Technician Shortages
The comments are in line with Farley's previous claims about the company facing a technician shortage in the U.S. The CEO had earlier said that over 6,000 bays at Ford dealerships across the U.S. were empty because of a lack of skilled workers.
Ford's Recall Woes
Ford also faces a critical recall problem, with the company's recall count reaching 134 for 2025. Farley, despite the recalls, has remained optimistic and reaffirmed that the recalls represented the "largest near-term opportunity" for the Detroit-based automaker.
Ford scores well on Momentum, Value and Quality metrics, while offering satisfactory Growth. It also has a favorable price trend in the Short, Medium and Long term. For more such insights, sign up for Benzinga Edge Stock Rankings today!
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