Jobs That Thrive in a Bad Economy
When the economy slows down and begins a steady spiral towards a recession, consumer confidence drops and businesses from Wall Street to
Such jobs must meet certain criteria in order to thrive during harsh economic times. They are typically jobs that are in high demand, require certain skills, and continue to provide goods or services despite happenings in the economy.
Energy – Jobs within all sectors of energy including gas, oil, and alternative energy are likely to boom despite a downturn in the economy for two reasons: more than two-thirds of current workers in the oil industry will retire over the next ten years increasing the number of available jobs. In addition, the massive push to lessen the U.S’ dependence on foreign oil will open jobs to explore alternative energy methods.
Liquor Shops – A slow economy typically means people will be spending their limited discretionary dollars on home-based entertainment in an effort to save money. Many consumers view alcohol as an affordable luxury, so alcohol sales will remain up and possibly increase as consumers take to the bottle to ease financial stress and worries.
Healthcare Professionals – People don’t stop getting sick or injured during tough times so the need for healthcare professionals will remain steady, as many benefit from inflated salaries and secure positions.
Truck Driving Jobs – Did you know that roughly 75% of all consumer goods are delivered by commercial truck? Without truck drivers, Americans would not have the items that make daily life what it is. From small, private trucking companies to major carriers (such as Swift jobs), a truck driving job can provide great pay and job security during a weak economy.
Real Estate Investing – Given the subprime mortgage crisis and crumbling of the financial industry, real estate is obviously not a recession-proof industry that comes to mind. However, if you have the discretionary funds and resources, real estate investors can scoop up foreclosed properties for next to nothing and sit on them until they can turn a major profit.
Crematories – People don’t stop having funerals during a bad economy; however, they are re-thinking how they do them. Cremation has skyrocketed in popularity because it is a much more affordable alternative to a traditional burial (roughly $1,500 compared to a burial which can cost anywhere from $6,000 to $9,000).
Federal Government – Known for offering employees outstanding benefits, Uncle Sam is also a great employer during a recession (or close to one). On average, the federal government hires 2% of the American workforce and during harsh economic times, vacant positions are not filled as opposed to letting employees go.