professions that can withstand an economic recession
Entrepreneur Raphael Avraham Sternberg shares insightful commendations on professions that can withstand an economic recession.
Raphael Sternberg believes that healthcare professionals tend to be essential. Within health care, there are roles for just about every education and experience level, such as doctors, nurses, physical therapists, and dentists. These professionals spend large amounts of time helping people with illnesses or injuries get better- keeping them in good health- rather than working to reduce their population, as has been the case in recent decades.
Not only is healthcare important for the population, but it also helps sell more medical supplies and equipment. Another profession, according to Sternberg, is Public Safety.
Public Safety workers are also in higher demand, especially during these economic times. Jobs in this industry have included police officers, firefighters, security guards, and emergency medical technicians. Even though the economy is struggling to produce jobs for everyone, law enforcement will always be needed throughout the country. It takes money to fund police departments, and during recessions, people who do not have regular jobs often feel a strong need for safety because they do not receive as much protection from the police.
Public Safety jobs also provide a sense of employment stability. Officers and firefighters are often less concerned about job security since their jobs require them to be on duty at all times of the day or night.
During the most recent economic recession, public safety jobs did not suffer as much as other industries. Even though there is still an increasing demand for these types of work, most safety workers are generally aware of their importance. They, therefore, do not produce a significant amount of antisocial behavior that hinders an economy, such as crime or theft.
According to Raphael Avraham Sternberg, education jobs are also in higher demand when the economy falls into a recession. From kindergarten teachers to college professors, schools will always require employees to educate youth. However, most parents worry about their children’s future during an economic downturn. Parents who work regular jobs outside the home tend to have less time to spend with their children learning essential lessons such as proper behavior and study habits.
Children will be more prone to bad habits if they do not have boundaries established by parents or guardians who teach them the importance of good behavior and intelligent decision-making. Raphael says the law is another profession that will always be a part of our society. No matter what type of laws are in place, an attorney will always be willing to fight for a client’s rights.
Lawyers who can keep their families afloat during difficult times can often negotiate better settlements with their clients that may initially seem unattainable. Legal professionals must also interpret the laws and make decisions that protect the public when there may be a lack of business. The financial industry is another profession that will always be dynamic and volatile. When the economy is in a recession, new investors are often not found, and therefore an economic slowdown causes less demand for stocks. Since stocks can be traded on the stock market, this results in fewer jobs within securities. Although this may cause businesses that produce stores to suffer, they can recover faster than their competition because of less demand.
Regarding finances, stock market fluctuations also impact the brokerage and clearing firms. Securities industry jobs are always in high demand, but they tend to be even higher in order during an economic slowdown. Securities brokers and dealers are needed to trade stocks and create investment opportunities. By creating investment opportunities, these professionals can encourage investors to invest in companies experiencing a slow growth or decline period. This allows investors and companies alike to make more money than during a regular recession– which we need now!