Career options in slowdown
Recessionary times test the inherent strength of an organization. Any organization which continues to grow, albeit, even moderately during recession, is the winner. The times that we are witnessing right now are the worst of our times. Most of us might not have been even alive when the great depression of circa 1930 hit our forefathers. This depression is believed to be almost of the same level which hit the economy in circa 1930. The DOTCOM bust was comparatively milder. It has been almost one year when all this began unfolding. And still there is no indication suggesting even a mild recovery.
Every recession is unique in terms of business sectors and societies it targets. We are in the midst of depression which has so far affected almost every sector of our economy. The sectors which have been most severely hit are Banking & Financial sector, Housing, Insurance, Automobiles and Information Technology. It’s true that these conditions are not going to be there permanently. Somewhere down the line, recovery will take place. But it is very difficult to fathom the depth of depression and the tipping point which will herald the early recovery signs.
Sectors and professions which will be able to bear the onslaught of recessionary forces have been tabulated, down below. The list has been prepared after deep understanding and study.
- Education: This is one sector will never go in to recession. Whatever may be state of economy, demand of teachers and professors will continue to be there.
- Energy: This sector will continue to thrive. The buoyancy in the Indian and Chinese energy markets will only boost the demand worldwide. In addition, there will be thrust on alternate sources of energy like wind, solar and other renewable which will easily shore up the market demand.
- Health care: Medical profession is recession proof. It normally does not get affected by the ups and down of the economy.
- Environment: This sector has never received the attention which it is receiving now. There is renewed thrust on policies relating to climate change. Obama administration has already given enough indication about their priorities in this sector.
- Security: To have good live alongside evil, security is required. No one can root out disturbing elements from our society. Security will be needed to shore up the people’s confidence.
- Infrastructure: There is a vast difference in the infrastructure levels available in developing and developed countries. Over the years it has been observed that whenever the going gets tough government all over the world resort to heavy spending in the infrastructure. This is even reminiscent of developed economies.
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Barring minor changes, professions mentioned in the list tabulated above have weathered many storms over the years but have remained rock steady. It is true that these sectors may not be able to enjoy high growth rates during the golden periods of economies but it is true of even the recessionary phases, where all around slowdown will not result in any job losses or negative growths. These sectors remain steady during ups and downs of economies.
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i read a lot just about that in the last few days and i think it might be true. Eventhough i think everyone is responsible for himself. No Offense, Just my opinion…