As generative AI eliminates hundreds of thousands of white-collar jobs across industries, Blackstone President and Chief Operating Officer Jon Gray asserts that the technology is simultaneously fueling a surge in blue-collar employment. According to a report by Fortune, speaking at the Milken Institute, Gray predicted a 'huge boom in skilled trades' over the next five years, driven by massive investments in AI infrastructure.
Gray pointed to QTS, a Blackstone portfolio company that operates or is developing more than 75 data centers worldwide. A year ago, approximately 10,000 workers were on QTS job sites; by the end of this year, that number is expected to quadruple to 40,000. 'Between the energy, the physical infrastructure, the data centers, the reindustrialization—something very powerful is happening,' Gray said.
Massive Spending on Data Centers
Global spending on data centers could reach $7 trillion by 2030, according to McKinsey, creating lucrative opportunities for electricians, pipefitters, and HVAC technicians. A single data center can be 40–50% larger than a Walmart Supercenter and require up to 1,500 workers during peak construction.
Higher Pay for Skilled Trades
Construction workers on data center projects earn an average of $81,800 annually, or $39.33 per hour—about 32% more than those on non-data center builds, according to Skillit, an AI-powered hiring platform. This wage premium reflects the specialized skills required to build facilities powering the AI economy.
Talent Shortage Looms
Despite increasing demand and pay, filling skilled trade roles remains a significant challenge. According to the US Department of Education, around 2.1 million skilled trade jobs will go unfilled by 2030, costing the economy approximately $1 trillion annually. The shortage stems from multiple factors, including an aging workforce, decades of emphasis on four-year degrees over vocational training, and surging demand tied to AI infrastructure.
Companies Rebuilding the Pipeline
To address this gap, companies are now investing heavily in workforce development. The charitable arm of Blackstone recently committed $3 million to launch the Blackstone Skilled Futures initiative, a training program in association with Arizona State University, Maricopa Community Colleges, and local nonprofits. QTS currently has three data centers under development in Phoenix.
Meanwhile, Lowe's announced a $250 million investment to train 250,000 people in plumbing, carpentry, and electrical work over the next decade. CEO Marvin Ellison said the initiative is critical as AI reshapes the workforce: 'In a world where administrative and analytical occupations are going to be increasingly dominated with the acceleration of AI, we think the skilled-trade initiative is going to be even more important.'
