As many Americans know, the state of the economy has been tenuous at best over the last decade. With the economic crash in 2008, there have been more bad times than good in the recent past. This is most evident in the job market: after the crash, unemployment soared to an unthinkable ten percent, leaving thousands of workers without jobs. As the economy slowly rebounds, employment has been picking up but there are still many industries that do not offer the opportunities they used to. There are several businesses, however, that have withstood the market crash that are going strong today. Listed below are five industries that have shown themselves to be recession proof time and time again.
- Precious metals. Jobs in the precious metals industry have been steadily on the rise over the past several years. As more and more investors become interested in buying gold and other precious metals as a form of security against another devastating economic downside, more and more jobs are appearing in the industry. Even in a recession, gold and silver make for hot commodities.
- Industrial supplies. Careers in industrial supplies, such as piping and heating and cooling have been growing at a steady rate for years. With only a two year degree or certificate program needed in this popular field, getting started is simple and worthwhile. Industrial needs do not disappear during a recession so this industry will continue to develop with new technologies and engineering discoveries, poor economy or not. One of the biggest industrial supply companies even has a noteworthy management training & development program that offers a great career opportunity.
- Financial analysis and planning. As the baby boomer generation ages and the affluent grow more concerned about the effects of another market crash on their assets, financial planners and analysts have never been in higher demand. These jobs are available at investment banks, brokerage firms and financial planning companies. Becoming a financial planner takes at least a bachelors degree and generally further education beyond that, but the pay is scaled appropriately.
- Accounting. Every company in the world keeps books, and most business owners are not interested in keeping their own. Accountants can identify cash flow issues, set up costing systems, track profits and losses and make decisions regarding a companys financial heath and the steps a business might need to take to succeed. Especially in light of the tightened purse strings brought about by the recession, companies are furiously searching for good accountants. Accounting also requires at least a bachelors degree and possibly a masters for CPA candidates.
- Network Administrator. Much like accountants, network administrators are indispensable for a company. The necessary skills are not universal like administrative abilities might be and companies rely on their IT team to keep the business moving. Many network administrators have four year degrees but there are opportunities available with less education.
Even though the job market has suffered over the last five years, this doesn’t mean there aren’t great jobs out there that can withstand the ups and downs of another recession. Breaking into one of these fields could be your ticket to career success, no matter what the future may hold.