Economic Crisis And Recession-Proof Jobs

First Published: March 29, 2009

In the financial climate that prevails at the moment, there are numerous people who very understandably feel that there is no way they will ever get a job. Companies are laying off workers or asking them to take fewer hours in order to allow them to keep operating, and as a result the number of companies actually taking on new staff is falling sharply. This is the human effect of the recession being shown as clear as day. Newly graduated college students are finding themselves with large scale student debt and without a job that allows them to start paying it off. People who have been in the same job for twenty years and more are all of a sudden finding themselves unemployed and with scarce opportunity to retrain and find a new job.

Despite this, there are some companies and individuals who continue to thrive even in the heart of the recession. Some jobs are seemingly fire-proof, and some companies are experiencing little, if any, fall in profits or marketability. These jobs and these companies are the ones who are recession-proof. As fanciful as that term may appear, the simple truth is that there are services that a huge number of people will continue to need, and these services are not going to suddenly hit the skids in the same way that consumer outlets have been. When people have to tighten their belts financially, the first things to go are the things that they want but do not need. The things that we need will continue to do well because, whether we like it or not, we have to pay out for them.

For example, health care professionals are not suffering unduly in the recession because – credit crunch or no credit crunch – people are still getting sick, getting injured and needing treatment. Although there may be a drop in terms of people with comprehensive medical insurance as workers get laid off, there is no question that people are still going to their doctors in cases of necessity. Just as they will go to the doctor to get themselves fixed, they will also see another recession-proof worker – the car mechanic – when their car breaks down to get that fixed. Living without a motor vehicle, for many people, is simply not something that they can countenance.

The key, then, to making yourself recession proof is not easy, but it is clear. Make yourself indispensable. If you can get yourself into a market sector on which people rely and on which they will spend money, then you will give yourself a big advantage in the credit crunch era. If you are looking to go into business, then yes, now is a risky time for that but if you can get a business plan going for something that is essential it will pay off. Think about what people turn to in times of financial difficulty, and try to make your mark in those areas. It is essential to protect yourself, because the recession may continue for some time.