Today’s figures released from the Office of National Statistics (ONS) show that the UK economy contracted for the sixth consecutive quarter. This means that we are now officially in the longest recession since 1955.
The hardest hit sector of all is not the banking sector as you might expect, but the manufacturing industry which has sadly lost 8.5% of its jobs in the past year. This has hit the Midlands, North West and Wales particularly badly with factory closures affecting entire communities. Economists predict that it may take a while for this sector to recover even after the recession is over as many factories would need huge investment to re-open.
But, according to ONS figures, education is the best sector of all to be working in with a rise in jobs over the past year.
So, what other sectors are recession proof? Here are Personal Marketing’s suggestions….
Emergency services – we will always need firemen and, as people run short of cash, there will always be crime. The country needs police!
Health care – people will always need doctors, nurses and midwives.
Utilities – you can’t do without gas, electric or water no matter how tight your finances.
Funerals – with the population of Britain set to rise to 71 million shortly undertakers have never been busier.
Pharmaceuticals – as the population gets bigger, and people get sick, they will need drugs.
Alcohol and confectionery – sales have boomed since the recession started. Well, we all need such essentials.
Hairdressing – still got to have your hair cut! My small village alone has seven hair dressing salons.
Debt collection – this industry must be going great guns at the moment unfortunately.
Tax office – “Only two things in life are certain. Death and taxes”.
Toilet roll and nappy industries – completely recession proof as what other options are available?
So the recession is not all bad. Some sectors are clearly flourishing!