In April, CNNMoney.com compiled a list of ‘Best careers to have in a recession’. I don’t agree with everything on their list, so I created my own list with my reasoning why I think each job will be good.
1. Job search / service companies – Unemployment has been rising for 5 months and just last week shot up to 5.5%.
2. Gardening suppliers and retail food stores – Less people will be eating out, planting gardens and cooking more food items at home.
3. Alternative transportation – As gas prices weaken the economy even further. Many people will start to adjust the number of miles they drive to reduce the impact on their budgets. New hybrid cars will be more than welcome. Car pooling and riding busses will be the trend.
4. Alternative energy – Along with oil prices, natural gas and coal are at record highs, which will increase heating and electricity costs this winter. Wood burning, solar panels and wind mills will be the trend.
5. Mechanics – As people are reluctant to buying new cars, they will need to keep their clunkers going.
6. Health professions – The baby boomers generation consists of the large number of people (30-40%) that are moving into their golden years.
7. Teaching - The next generation will still need to be educated. Although the entire system will likely be put under careful scrutiny, as government funds dry up.
8. Legal – From bankruptcies to home foreclosures to angry shareholders that lost money from collapsing businesses, lawyers will be in high demand.
9. Accountants/Financial Advisors – Especially accountants with the coming higher taxes and inflation because avoiding these will become the last hope of survival for many businesses. Financial advisors will be needed to help everyone get out of debt as the national average is now over $100,000 per family.
10. IT – Computer systems will still need to remain operational and they may even become more critical as more people begin working from home to avoid high gas prices.
This is a good start and I’m sure there are many more. If you have any others, I’d love to hear them.