The youngest baby boomers are now in their late 50s, and many are starting to eye retirement. This is hitting the HVACR industry particularly hard, as these older technicians have a vast amount of knowledge, which they will take with them when they retire. In addition, there are simply not enough younger workers interested in pursuing a career in HVACR to take their place.
The labor shortage has been an ongoing problem in the HVACR industry for decades, but with the impending wave of retirements, it will likely get worse in the coming years. This may lead some contractors to look for ways to retain their older technicians by either retraining them for less physical jobs or by offering phased retirement. The latter option can be particularly attractive, as companies can keep their experienced technicians part time, and older employees can still earn a paycheck while imparting their knowledge to younger workers.