Forest sector is already in recession, saying Truck Loggers Association
While economists take the world’s pulse for signs of a looming global recession, for forestry workers in B.C., it’s already here, says Truck Loggers Association executive director David Elstone.
“We are in a recession for the forest products sector right now – there’s no doubt about it,” Elstone said, adding it’s only a matter of time before some contractors start declaring bankruptcy and taking early retirement.
“I haven’t heard stories yet of people who went bankrupt, but we’re getting really close to that,” Elstone said. “It already is ugly. It’s going to get more ugly.”