I think this is actually one of those predictions that might not turn out the way you think. Economies are all about supply and demand, not how long or complicated the job title is.
The government is increasingly ignoring the problem, the higher-education-industrial-complex is grabbing workers that would otherwise go into the trades, mass-importation of unskilled labor is slowing down as it becomes more of a political minefield (In the EU and the US).
The confluence of all those factors will squeeze a limited labor pool, and prices will continue to increase. I think it's not unlikely that in 5-10 years we enter a crisis where critical infrastructure starts failing and the government has to start up a "Learn to Weld" program instead of "Learn to Code" program because things have gone so far out of balance.
Economies are about supply and demand. But wages are not directly tied to the demand for the trades. Wages are controlled by the bosses. Even if the price of wiring up a new home goes up, I would not expect the bulk of that increase to be reflected in the wages of the electricians (at least in the US).
Trades are one of those areas (along with software engineering) where it is relatively easy to be your own boss. The market in general is pretty competitive on both the buyer (lots of individual homeowners needing work done) and seller (lots of small independent contractors selling their labor) sides; that should make overall prices & wages reflect industry-wide (or at least local) supply & demand pretty well.
ConstructionPhysics has a pretty good series about why the construction industry never really realized economies of scale the way most other industries do. Even when you have large homebuilders like D.R. Horton, their primary competitive advantage is usually reduced cost of capital, which goes away if capital becomes expensive for everyone.
The government is increasingly ignoring the problem, the higher-education-industrial-complex is grabbing workers that would otherwise go into the trades, mass-importation of unskilled labor is slowing down as it becomes more of a political minefield (In the EU and the US).
The confluence of all those factors will squeeze a limited labor pool, and prices will continue to increase. I think it's not unlikely that in 5-10 years we enter a crisis where critical infrastructure starts failing and the government has to start up a "Learn to Weld" program instead of "Learn to Code" program because things have gone so far out of balance.