As the nation felt the coronavirus economic squeeze, trades experienced a 20 percent decline in income from April to May.
A ServiceSeeking.com.au survey of more than 900 trades professionals explored the effect on jobs and income in these challenging times.
A few key findings include:
- 78 percent are winning fewer jobs than last month
- 69 percent of those winning fewer jobs report a decrease in turnover of more than 20 percent
- 63 percent have dropped prices, and
- 17 percent believe the economy won't recover until some time in 2022.
Twenty-two percent expect the economy to recover by January 2021.
"There are two sides to this data," says Jeremy Levitt, co-founder of ServiceSeeking.com.au. "On one hand, it is clear that the lifeblood of the Australian economy, our tradies, have seen a substantial decrease in turnover in just the last month, which is a worrying sign for the Australian economy. However, there may never be a better time to hire a tradie, with 63 percent dropping their rates to win jobs. This may be the incentive homeowners need to stimulate demand for tradies in the short term."