What’s a good industry to be in?
February 18, 2009
Whilst the media at the moment is generally full of depressing news about job cuts all over the country due to the economic downturn, there have been occasional refreshing reports about jobs being created in a number of different industries. So what are the recession-resistors and recession-risks in terms of the jobs people actually carry out?
Well at the bad end of the scale, finance, manufacturing and retail seem to have taken a huge hit, which largely began with the huge city losses last year when large multinational banks went under and many other financiers suffered massively. There have been huge job losses on the high street, with Woolworths, USC and Zavvi (who today announced that the remaining stores will be gone by the end of this week) amongst the list of retail casualties. Mini (part of BMW) has become the latest in a series of large scale redundancies in the car manufacturing sector this week when hundreds of jobs were shed at the plant in Cowley. Today General Motors has announced that 47,000 jobs will go across the world, which may affect the Vauxhall plant in Merseyside. So which industries appear to be resisting the economic climate?
Companies operating in the digital arena may have a better chance than the above industries, with so much of everyday life moving online; and this may be partly why Woolworths and Zavvi have left the high street – as so many of their products can now be bought much cheaper online from companies such as Amazon and Play. There’s also a focus on digital industries in the ‘new deal’ philosophy that Barack Obama and Gordon Brown spoke of at the beginning of the year: with broadband connections for everyone being a key feature. Another one is in the environmental field – which still has importance despite the economic climate having perhaps stolen all the headlines recently.
The supermarkets appear to be leading the way in creating new jobs, with ASDA last month announcing 7,000 new jobs that will be created through expansion, as well as similar announcements from Sainsbury’s, Morrison’s and Tesco. In these times supermarkets are able to thrive with money saving deals and price drops, as well as targeted advertising such as the ‘feed a family for less than a fiver’, and ‘every little helps’ campaigns. I imagine that many general stores that will struggle will be local shops such as independent butchers and greengrocers etc; who will not be able to compete in terms of price comparison.
Then there are stories of growth and development that are more unusual – like the £225million development of Chester Zoo that will be taking place until 2018. This will see the Zoo grow substantially and introduce a vast array of exciting new attractions and species, and will also provide hundreds of jobs over the coming years in the North West of England in conservation/zoology (as well as construction and engineering during the development).
So it seems that whilst the economy appears to be sliding further each day, and there are many people in difficult positions, there are industries that are actually not doing too badly. I would think that in the next year or so, many keen entrepreneurs will be looking to analyse the effects of the recession on different industries and looking to capitalise on some of the opportunities that present themselves.
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