Do "recession-proof jobs" exist?
EUGENE, Ore. - Across the country, the number of people getting unemployment benefits is the highest it's been in seven years, according to new data released by the Labor Department. So is there such a thing as a recession-proof business? One University of Oregon economist doesn't believe so, but there are some industries weathering the economic crisis better than most.
So you've just been laid off. Now you're looking for a stable career during an economic mess.
Type in "recession-proof jobs" in a search engine, and you'll find a whole slew of articles listing everything from education to public safety.
"I would think there are some careers that are going to be less affected during a downturn, but being completely recession proof I think is a bit of a stretch," said University of Oregon Economist Tim Duy.
The key is to focus on work that continues, even when most people don't have extra spending money. Take for example, funeral homes. As morbid as it sounds- everyone will die, but not everyone can pay. Yet, businesses like the Musgrove Mortuary of Eugene won't turn anyone away, forcing them to bury those costs.
On the flip side of the coin...
"Babies continue to be born whether we're in great economic times or tough economic times," said Debi Farr of McKenzie-Willamette Medical Center.
So while hospitals will always have patients-- the buck stops for money-making procedures like elective surgeries and diagnostic testings.
Then, there are all those calls from collection agencies. Defaults for you, mean work for others.
"As far as the number of people employed in the industry, it's got to increase, because it's going to take more man-power to collect more debts that are going to be assigned," said John Nation of Pacific Coast Credit.
Duy said if you are looking for a new career, a lot of skills can transfer from one industry to another, especially those that are technology-centered.
Careers in alternative energy, accounting and the military also seem to be taking less of a financial hit.
