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SMP Solutions Guide: Top 20 Careers to Pursue in a Recession

Following a recent article in HR World, SMP Solutions takes the lid off some of the careers that are least likley to be at risk in a down turn.

If you want to recession-proof your career, the key is to focus on work that continues even when most people don't have disposable income to spend. So while consumers may be reinging in their spending, you can guarantee that people will continue to get sick, pay taxes and use energy.

These are just a few of the careers and industries that can be expected to either thrive or have a greater chance of surviving in a down turn in the economy.

1.      Health Care: People will always get sick- sometimes even more so when they don't have the money to take preventative measures or cut back on eating healthy food. Hospitals and Primary Care Trusts may be looking to become more efficient and cutting back on budgets but there will always be a need for health care. 

2.      Energy: Although consumers are likely to cut back, they will not stop using energy. In fact, this industry may grow, as companies look for more efficient ways to deliver using less energy. 

3.      Education: No matter how dire the economy is, there are always jobs for teachers. Kids will still go to school, and many out-of-work adults may decide to continue their education. There is currently a trend for out of work city bankers moving into the teaching profession! 

4.      Utilities: Just like the energy sector, it's safe to assume that people are not going to stop lighting their homes. So utility administration, maintenance and other related jobs should remain intact. 

5.      International Business: Even when the economy is doing poorly there are always other countries which may be doing well. So if you are involved in international business, you can expect your career to stay safe. 

6.      Public Safety: Police layoffs are very rare, especially at a time where public safety is threatened by desperate criminals. A career in public safety is almost guaranteed to be secure. 

7.      Funerals: Just like people won't stop getting sick, it is a fact of life that they will continue to die as well, so as morbid as it is, morticians will always have customers. 

8.      Accounting: Death and taxes are a sure thing. In a recession, people and companies are likely to search for more deductions, cost savings and ways of becoming more tax efficient. 

9.      Public Sector: Although there are no longer any ‘jobs for life, in general  public sector jobs are far more secure than in the private sector, especially in a downturn. 

10. Pharmaceuticals: As long as doctors prescribe them, people are still going to take drugs. So whether you're behind the pharmacy counter or in the lab, you can rest easy. 

11. Military: Although various aspects of the Forces have been cutting back on personnel, the military is always hiring. There were nearly 18,000 new applicants to the Army, Navy and Air Foce this past year and the number of recruits completing basic training rose by almost 13%. Also, consider that most of your living expenses are covered, so cost-of-living expenses are not really a concern. 

12. Hairdressers: People may be more wary about how much they spend but hair will always grow, so skilled hairstylists can still expect a steady flow of work. 

13. Debt Management & Debt Collection: As budgets get squeezed, people will fall behind on payments. Recessions mean crunch time for debtors, and they're sure to need some guidance. Companies will also look to debt collectors to recoup their costs. 

14. Plumbers: Although people may be wary of costs in a recession, if pipes bust, or heating packs up then you have little alternative. Good plumbers will always be in demand. 

15. Consulting/ Interim Management: Recessions are crunch times for companies and although they may reduce employees on the payroll, they often turn to consultants and freelance contractors for advice on efficiency and squeezing the most out of their resources and Interim Mangers to fill specific skills gaps rather than having the ongoing payroll costs. 

16. Specialist Lawyers: Although the legal profession is suffering, it is sad, but true: As companies and individuals go bankrupt or companies lay off staff to battle through a recession and survive, they'll need a specialist lawyer to help them through the appropriate legalities for their situation. 

17. Food: People need food to survive, and it's not likely that anyone is going to just stop eating  no matter how bad the economy gets. 

18. Beauty & Health Services: Regardless of a recession, people who enjoy being pampered will seldom give up the simple pleasures in life.  They may just be more cautious about how much they spend.

19. Ultra luxury Items: If you are in a business that caters to the rich and famous, you can expect to be safer, as this type of consumer is likely to have measures in place to weather the recession.

20. Portfolio Careers: If you don't put all of your eggs in one basket, you should be able to ride out a recession by relying on a secondary income (possibly online/web based) or deriving income from a number of differing activities and skills. This could be a job and a businesses, a range of part time jobs or a self employed career covering a variety of related or unrelated activities.   (see our SMP Solutions Guide to Portfolio Careers)

Although today's job market may be bleak, there are some bright spots if you know where to look. While recessions hit some sectors hard, others go on like clockwork or even experience growth. So if you are a ‘victim’ of the recession now is a good time to evaluate your options and consider one of these more recession-proof careers.

 

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