Hundreds of jobs are disappearing daily in many countries. In some industries people manage to keep their jobs during recessions and financial crises. What are the recession-proof jobs in 2009-2010?
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Jobs are disappearing daily all over the world. The news media is reporting hundreds of job cuts and giving gloomy forecasts. The International Labour Organization (ILO) predicts that 20 million jobs, mostly in construction, real estate, financial services, and the automobile sector, will disappear by the end of 2009.
Are there any industries, where jobs will be stable throughout the current financial crisis?
If we compare the current recession to earlier ones like in 1981-1982, 1990-1991 and 2001 in the USA, we would see how some sectors did not lose jobs and the number of jobs even grew in some.
Recession Proof Industries
- Security – No matter how bad the financial crisis gets, the need for security shall not decrease. Jobs like firemen, police, law enforcement officers, customs and security services, forensics, and shop security personnel may even need more skilled personnel during the recession.
- Healthcare – The need for skilled nurses, doctors, psychologists and psychotherapists, analysts, caregivers, medical assistants, physical therapists, home health aides, medical records staff and health information technicians will hardly decrease and may even grow during the recession.
- Education – The need for trained teachers and some other skilled people in the core processes of the education industry in highly populated growth areas remain constant during recessions and will probably remain so now.
- Personal Care – Barbers, hairdressers, beauticians and cosmetologists also could keep their jobs. Businesses in the upmarket range might lose customers but those who cater to downmarket needs will probably survive.
- Legal Professions – Skilled professionals in the claims and compensation sectors, or those dealing with bankruptcies, and contractual disputes usually see more work during recessions.
- Food Industry – People can’t give up eating even during a recession. Cheaper take-aways and eateries would need more staff ready to work at lower pay to function than luxury restaurants, which may not have enough customers.
- House and Car Repairs – Skilled house repair servicemen like plumbers or electricians in densely populated areas didn’t lose their jobs during previous recessions. Though not many new houses are being built, emergency repairs are vital. We might drive older cars, but they need to be serviced and repaired. Cleaners will still be needed.
- Environmental Sector – The demand for skilled professionals in environmental health and protection has been constant and is not likely to diminish during the recession.
- Sales and Marketing – Business need to market more aggressively in hard times. Skilled marketing and salespeople working on commission pay basis would keep their jobs even during the recession days.
- IT and Accounting Services – IT services need to function always. Skilled people working to provide accounting and IT-related services in core business functions would still be in high demand throughout the recession and more during the next upswing.
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Recession Prioritizes Spending Habits
However, there might be a redistribution of jobs. Some of these jobs will likely move from scarcely populated areas to high growth coastal areas. During recessions people usually prioritize their spending. This has often meant growth for the cosmetics industry. In tough times, people buy small cosmetic products to feel good quickly rather than more expensive products like TVs or cars.
Overall, business which depend on discretionary spending like entertainment, health supplements like vitamins, voluntary financial services or new houses will lose more jobs than businesses depending on compulsory spending like healthcare, food, childcare, primary education and security etc.
What Skills Employers Look For in Employees During a Recession
Employers look for certain qualities or personal attributes in addition to the skills that you must have for a particular job. On the job skill sets and attributes are broadly:
1. Personal skill sets and attributes
2. Professional skill sets and attributes
3. Social skill sets and attributes
Some things have changed permanently. There is no going back in markets struggling to come out of the global recession. The skills you need to improve your marketability and recession-proof your job prospects or get a new job are very different from what many people think. Highly valued skills now are:
- Compatibility with the Job
- Organisational Cultural Malleability
- Motivation and Purpose
- Problem-Solving Ability
- Positive Personality
Read more about them here …
Good luck with your job!