Every day brings news about more layoffs, companies shutting down
and escalating levels of unemployment. It's no wonder that students and
employees find the entire situation overwhelming. In today's market,
traditional forms of employment are becoming tougher to come by and
looking for that 'perfect' job may seem impossible. But all is not lost.
There are still some industries that are going strong and some perhaps
doing better than ever before. These are the careers that will lead the
future of business and discovering them at a time like this is
invaluable. The earlier you start planning for these specific careers,
the safer your future will be once the economy has regained stability.
So how do you plan your education and choose a career that's right for you during a recession? If you want to recession-proof your career, focus on jobs that stay stable even when most people don't have disposable income to spend. For example, even though shopping and entertaining might be in a slump, people will still continue to get sick, pay taxes and use energy irrespective. The following are some of the careers that are expected to stay stable even during the current economic crisis.
Education - There is always a shortage of good teachers. Down turn of the economy or not, children will continue to go to school and many adults may resort to furthering their education after being laid off. Therefore, teachers will always be in-demand. Children will continue to go to school. Also, lots of unemployed adults may decide to further their education.
Healthcare - The healthcare industry remains unaffected no matter what the economic situation. More effective medication and longer life spans have also given rise to a whole new demographic of senior citizens that demand special health care services. Health care administration is also an information-driven career, which might prove especially appealing to those looking for a career change from information technology.
Auditing - In a recession, the demand for auditors and accountants are much greater as businesses and individuals monitor their expenses and books more carefully and do a lot more to receive greater tax deductions.
Energy and Utilities - While consumption of energy may reduce, it will never stop. This is the same for other utilities as well, so careers related to maintenance and utility administration is always a stable option.
Pharmaceuticals - As long as health care is in demand and doctors prescribe drugs, people are still going to take them. This means that a career in pharmaceuticals is a good choice.
Military - Joining the military has several advantages. All your living expenses are covered and your education may be subsidized as well. Since the military is always hiring, particularly during wartime, soldiers remain unaffected during a recession.
Security - Recession might lead to an increase in criminal activities so the need for security workers and the police force becomes greater.
Environmental Sciences - The trends towards eco-consciousness is always on the rise and choosing a career in environment-care-related industries is a good option.
Government - The government does not stop functioning even during a crisis. Working for the government is therefore an extremely lucrative choice.
International business and consultancy - During the crunch time of a recession, companies call in consultants to advise them on efficiency and optimizing resources.
Debt Management and collection - As unemployment rates increase and budgets tighten, many fall back on payments. Companies and individuals need to turn to debt management plans and collection agencies to recover their losses.
Multi-faceted careers - Try and rely on a secondary source of income for more security. Include investments and freelancing along with your regular job to decrease the odds of a crisis.
So, whether you are still in college and planning your career, just starting out, or are in between jobs, look for the following factors when choosing a recession proof job:
o Jobs that remain in high demand
o Careers that require specialized skills
o Businesses that provide goods and services regardless of the economic situation
o Companies that have the foundation to weather the downturn in financial cycles
If you have already graduated and have been laid off recently, another way to cope with recession is to consider a career shift. There can be no better time to create a new path for yourself and use this opportunity to switch to a different career path. Remember that no job is a hundred percent secure but as mentioned above there are still some industries where the demand is so great that finding another job would be very easy. This would be the best time then to go back to school and either complete your education or get a graduate degree. The key to future success lies in your hands and the time to make the correct choice is now.
So how do you plan your education and choose a career that's right for you during a recession? If you want to recession-proof your career, focus on jobs that stay stable even when most people don't have disposable income to spend. For example, even though shopping and entertaining might be in a slump, people will still continue to get sick, pay taxes and use energy irrespective. The following are some of the careers that are expected to stay stable even during the current economic crisis.
Education - There is always a shortage of good teachers. Down turn of the economy or not, children will continue to go to school and many adults may resort to furthering their education after being laid off. Therefore, teachers will always be in-demand. Children will continue to go to school. Also, lots of unemployed adults may decide to further their education.
Healthcare - The healthcare industry remains unaffected no matter what the economic situation. More effective medication and longer life spans have also given rise to a whole new demographic of senior citizens that demand special health care services. Health care administration is also an information-driven career, which might prove especially appealing to those looking for a career change from information technology.
Auditing - In a recession, the demand for auditors and accountants are much greater as businesses and individuals monitor their expenses and books more carefully and do a lot more to receive greater tax deductions.
Energy and Utilities - While consumption of energy may reduce, it will never stop. This is the same for other utilities as well, so careers related to maintenance and utility administration is always a stable option.
Pharmaceuticals - As long as health care is in demand and doctors prescribe drugs, people are still going to take them. This means that a career in pharmaceuticals is a good choice.
Military - Joining the military has several advantages. All your living expenses are covered and your education may be subsidized as well. Since the military is always hiring, particularly during wartime, soldiers remain unaffected during a recession.
Security - Recession might lead to an increase in criminal activities so the need for security workers and the police force becomes greater.
Environmental Sciences - The trends towards eco-consciousness is always on the rise and choosing a career in environment-care-related industries is a good option.
Government - The government does not stop functioning even during a crisis. Working for the government is therefore an extremely lucrative choice.
International business and consultancy - During the crunch time of a recession, companies call in consultants to advise them on efficiency and optimizing resources.
Debt Management and collection - As unemployment rates increase and budgets tighten, many fall back on payments. Companies and individuals need to turn to debt management plans and collection agencies to recover their losses.
Multi-faceted careers - Try and rely on a secondary source of income for more security. Include investments and freelancing along with your regular job to decrease the odds of a crisis.
So, whether you are still in college and planning your career, just starting out, or are in between jobs, look for the following factors when choosing a recession proof job:
o Jobs that remain in high demand
o Careers that require specialized skills
o Businesses that provide goods and services regardless of the economic situation
o Companies that have the foundation to weather the downturn in financial cycles
If you have already graduated and have been laid off recently, another way to cope with recession is to consider a career shift. There can be no better time to create a new path for yourself and use this opportunity to switch to a different career path. Remember that no job is a hundred percent secure but as mentioned above there are still some industries where the demand is so great that finding another job would be very easy. This would be the best time then to go back to school and either complete your education or get a graduate degree. The key to future success lies in your hands and the time to make the correct choice is now.
