Landscaping companies suffer in down economy

Just last year landscaping companies were likely reaping the benefits of a bustling business - especially in affluent suburbs of the New York City metro area.

But as the credit crisis has taken a toll on many of those who work on Wall Street, but live in the suburbs of Connecticut, New Jersey and New York, landscaping design and maintenance is often one of the first luxuries to be cut back or eliminated permanently.

According to a report in the New York Times, the landscaping business is largely tied to wealth, real estate and the stock market - and as all of those values have plummeted, so too has the demand for landscaping and grounds maintenance.

The article mentions that it's not only the landscaping companies that are suffering but their suppliers and vendors as well - ranging from the truck mechanics to the small cafes that serve the workers lunch.

So as spring time leads into summer, many in the industry wonder how far profits will tumble and if reduced crews will be inevitable.

The national unemployment rate inched higher in March to 8.5 percent and many believe it will head in the same direction again in the months to come.