Yesterday, I covered part 1 of my list of recession proof businesses or jobs, and today I’m going to finish the list. I was inspired by an article on the Web site “How Stuff Works.”
Here are the remaining 5 jobs or careers that are considered recession proof:
- Vices – basically, smoking, alcohol, and gambling. And something else I won’t mention here as this is a family friendly blog. . While some folks will cut back in order to save money, some will indulge their bad habits even more as a way with coping with stress.
- Discount retail. Places such as Wal-Mart, Dollar Stores, and thrift shops do well during recessions. It makes perfect sense – people are looking to spend less, and these are the places to do it!
- Information Technology. It’s the age of the geek, baby! Technology isn’t going anywhere, and almost all companies make use of it one way or the other. Yes, jobs are being shipped offshore, but in at least some cases, this has gone so badly that jobs are now being relocated back to North America.
- Health Care. With an aging population, this makes sense – and for the most part, it can’t be outsourced!
- Non-cyclical businesses. Basically, this means stuff that people continue to need, regardless of how the economy is. So – people will still die (funeral homes), pay taxes (accountants), and need electricity, gas, and waste disposal (utility companies).
I hope you’ve enjoyed this list, and keep it in mind if you or anyone you know is thinking of making a career change. Heck, encourage your kids to look into some of these, and support you in your old age!
If you had to pick ones of these fields to work in, which would it be?
I am addicted to the site “How Stuff Works”. It’s a great way for me to pretend I’m learning things, when really, I just want to do the latest quiz on Star Trek or James Bond. It does cover a variety of topics though, and one of them was on recession proof businesses. So, if you’re thinking of starting your own business or changing jobs, these may be some ones to consider:
- Candy, Cosmetics,and Contraceptives. Makes sense if you think about it. Almost everyone loves a sweet treat, and they are a fairly inexpensive pick me up. Buying a new lipstick is much cheaper than buying a new dress. And as for contraceptives – well, if you’re broke, you probably don’t want a baby on the way.
- Luxury retail. That one surprised me a bit – but of course, while most of us do badly in a recession, there are still folks with money – and who want to show it off.
- Repossessions. Yup, taking stuff away from the folks who can’t pay for it now. You gotta have a strong stomach for this though.
- Government. Well, it is unionized for the most part, and they are more recession proof than most, but even they lay people off. As with most union jobs, it’s all about seniority, and if your department is seen as money making or just “nice to have”.
- Education. Hmm – I’m not sure I agree with this one as much. A lot of people go back to school to become teachers after they lose their jobs, and right now, there are more teachers than there are positions. If you’re teaching already and have seniority, then it’s a pretty good gig. If you have qualifications that make you stand out (e.g. you’re bilingual) or are willing to move, this may also be a good field to consider.
Please tune back in tomorrow when I’ll cover the remaining 5 careers.
Would you ever consider any of these jobs? Are you in any of these fields right now?