While the international recession does seem to be subsiding, job security has still never been at the forefront of so many minds before. Those industries that continue to thrive (or at least survive) in these dark financial times are those that provide the consumer with the basic products and services we need for everyday life. Here we look at eight industries that are weathering the storm across the globe…
Healthcare:- Whatever the economic climate, you can be sure that people will continue to get ill and need medical treatment. This means jobs not only for doctors and nurses, but also administrative and accounting positions (particularly in America with the proposed reforms). We are also living longer, meaning that there is a greater demand for care assistants in nursing homes, and similarly for those with mental illnesses. This also has a knock-on effect on the pharmaceutical industry, in developing and supplying drugs. Finally, as unhappy a thought as it may be, people do not stop dying just because the economy is in turmoil – thus funeral directors and morticians are still necessary.
Energy:- As an increasing number of countries attempt to both ‘go green’ and save money, the need for energy-efficiency specialists grows. Those involved in developing renewable energy sources e.g. wind farms are in demand now, and will continue to be so in the future. This encompasses environmental scientists, mathematicians, and engineers for construction purposes. In the meantime, we still rely on oil and gas, meaning workers in this industry will continue to find employment at all levels.
Education:- Young people will always need to be educated, so teaching provides a fairly consistent career path. There is currently a shortage of maths and science teachers, and a demand for male teachers, particularly at elementary school level. Teachers with a second language are also becoming increasingly important. Because of the recession, there are a growing number of adults returning to education following redundancy, or to retrain in a new profession, and they too require tutelage. On a related note, there is also a constant need for social workers.
Financial Services:- Despite the failures within the banking system itself and some major losses amongst the financial giants, there is still a call for those who can provide financial services in the form of actuaries and advisors - accountants, investment consultants and credit controllers etcetera. These professionals are needed by companies looking to keep their expenditures and investments under control. Private citizens too may turn to accountants and consultants in order to ensure they are getting the best deal from their personal finances and pension plans.
Security:- During a recession, there may well be an increase in levels of crime as some people become ever more desperate to make ends meet. Law enforcement services, then, will offer a high level of job security during in this time, and could potentially require extra employees to bolster numbers.
International Business:- While the economic downturn is still affecting many countries, others are beginning to see the light. Much of Europe is now seemingly out of the recession, with other global powers such as Japan beginning to go the same way. So, companies dealing with international business may find that there is more job security. Individuals who are bi- or multi-lingual, or with knowledge of foreign markets and the means and motivation to potentially move overseas, may be very useful to this industry.
Military:- It is unfortunate to think that one might gain from the present political turmoil engulfing the world, but in purely practical terms, the current situation does mean that there is a constant need for troops. The army will also cover living expenses (including providing housing in the UK) and ensure families are supported.
Practical Skilled Services:- Basic services such as sewage maintenance, plumbing and water treatment among others continue to be vital. There may be less recruitment drives for new employees, but those already within those skilled services should see a fair level of job security. This really covers any industry that is necessary to the everyday running of a nation. We will always need food and clean water, drainage etcetera. Computer and technology skills are also important.
What you must bear in mind is that there is no real guarantee of security – rather, these are the industries that, globally, appear to be staying stronger than most in the face of the recession. You should consider your suitability for a given career, rather than simply undertaking it because it is ‘secure’. Teaching courses, for instance, are hugely oversubscribed because unemployed people are retraining merely because they believe it is recession proof. Following that, there has been an increase in new teachers quitting, because they cannot handle the stress. So simply bear these careers in mind – it may be worth those who have been made redundant, or new graduates considering following one of the above career paths – but only if it is right for you.