After almost a decade of success, Saskatoon's construction industry is taking a hit, leaving the market flooded with tradespeople starving for work.
But according to the Saskatchewan Construction Association, this economic downturn isn’t all bad news.
Mark Cooper, president of the provincial advocacy group, said since the construction industry is slowing down, it’s a good time for the commercial industries to keep building.
He said with the high amount of companies bidding on jobs, there is more opportunity for consumers to get better pricing for their projects.
“Take advantage of the pricing market,” Cooper advised. “Build today when you can get the best possible bang for your buck.”
Downturn not surprising
“Given what we’ve seen in our global economy and in our provincial economy here, it’s not that surprising that we’re starting to see some of the effects in the construction industry,” Cooper said, adding the economic boom that lasted for years had to die down eventually.
“We had a huge number or new companies starting in our province,” he said. “Over a year ago, [there were] over 13,000 companies operating in construction – a massive number.”
He said, this year, there are 3,000 fewer people working in construction compared to last year.
And although this is a trend now, Cooper predicts it will eventually turn around.