Economic recession led to job losses all over the world. This has made people look for careers that are recession proof, so to say. Such careers are not only safeguarded during recessionary phases, but also ensure good career growth and bright future prospects. In what follows, we shall study about some business sectors that have been insulated from the onslaught of recession and even provided financial security. The following are some choices that you can look into.
One of the best sectors to work in, during a recession is education. With the opening of new schools, colleges and universities, more and more jobs are being created in this sector. According to job market surveys, this sector was one of the very few which remained unaffected by recession. Teachers are entitled to attractive pay packages, perks, accommodation, and other benefits such as a bonus. Apart from job satisfaction, teaching jobs can pay you really well, once you gain sufficient experience. In the education sector, you have the option of working with state-run or private educational institutions.
Pharmaceutical companies have been marked as recession-proof industries by many experts. This is due to the constant demand for the products manufactured by these companies in the market. Even in the days of economic recession, one simply cannot avoid taking medicines and hence this is a sound business model. This sector is expected to grow at a fast pace across the world and especially in Asian countries, creating many jobs in the process. With degrees from reputed colleges and good experience, this can be one of the best-paying jobs.
The healthcare sector provides recession-proof employment and a good chance to grow with experience. This is basically due to the growing demand for healthcare services from huge populations of developing and developed countries. The demand for medical professionals such as nurses, physicians, heart specialists, psychologists, psychiatrists, etc. will never go down, even when the economy has been struck by recession. With the opening of new hospitals and healthcare centers, more and more jobs are being created for medical professionals. Again, you can get jobs in both government and private sector in this field. Salaries depend on expertise, experience, kind of employer and location of the job. Large hospital chains in big cities pay handsome salaries and many perks, as well as benefits.
Considering the increasing crime rate all over the world, jobs in security services can be some of the best choices during recessionary times. Jobs in the police force, jobs as private security personnel, detectives and international security agents will always remain in demand.
Jobs in government-controlled sectors and companies are believe to be some of the best choices during recession. Unlike private sector jobs, you would not have to fear lay offs and salary cuts in these jobs. With good performance and skills advancement, career opportunities are available in plenty for deserving candidates.
The restaurant business, transportation, infrastructure and construction businesses have also been known to pay decent wages during times of economic downturn.