Written by Abby Kohut
A friend of mine tipped me off to a great story for today's blog. The media is buzzing about "the recession being over". Maybe you saw the recent cover of Newsweek that declared "The Recession Is Over!" with the less than helpful subtitle "…but good luck surviving the recovery". Let's explore what this means for job seekers like you.
The message here is that specific economic indicators suggest that things could be turning around. But, the experts largely agree that some industries will take longer to bounce back than others. This makes sense because the recession wasn't something that happened overnight – thus we shouldn't expect it to vanish as quickly either.
According to Kipplingers, several industries have actually thrived in the recessed economy and continue to offer excellent opportunities for growth. When you think about why, it makes all the sense in the world:
- Healthcare – regardless of the economy, people still get sick. You may even argue that stress unfortunately breeds more illness, which breeds more jobs.
- Entertainment – because people are unemployed, and probably because they cannot spend money on as much travel, they typically spend money on movies, video games and sports. Entertainment also provides a great escape from the trials and tribulations of life.
- Education – as people are unable to find jobs in their industry, many decide to return to college to complete or further their education. Community colleges typically thrive in a recession.
- Retail Warehouses – Target & Walmart have lower prices than typical department stores so shoppers are much more likely to shop there. More shoppers = more jobs. Apply early for holiday positions at these stores and department stores as they tend to add helpers for Santa as December nears.
- Accounting – according to Kiplingers, bad times increase businesses' and individuals' desire to wisely account for every last dollar.
- Repair Companies – it costs much less to repair something than to buy a newer version. It also costs less to do it yourself than to pay someone else to do it so Home Depot may be another good choice for leads.
- Entrepreneurship – There are so many ways to make money if you have the motivation to work hard at something that you love doing. Some of the largest businesses still operating today were started during the Great Depression.
Absolutely Abby’s Advice:
If you have been exploring working in a new industry, it might be worth considering one that has held strong during the recession. But either way, the key is to differentiate yourself from the rest of the pack. Use your network to help you find jobs and then land them. If you can, you will soon be able to yell "touchdown".