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Four Industries That Boomed During the Recession

The last six years have seen some of the darkest economic times in the US and across the planet. Although we are beginning to see some growth on home soil, the wider market is still in trouble. Japan is in the throes of a depression at the moment, and Italy has fallen back into a recession. It is a troubling time for business owners and it has been a struggle to get by for many. Even on a day-to-day basis, the cost of living has soared while wages have stagnated.

However, when some businesses collapse, there are inevitably those that will soar. During a recession, the daily activities take a hit. Retail is hit hard. Hotels and restaurants see a huge dip too as people opt to stay in and save money. Unemployment is high and so disposable income is lower. Despite this, some industries have thrived during these difficult times. Let’s look into some of these strange anomalies.

recession

Thanks to Simon Cunningham for the image

Engineering and Construction

Construction and engineering have both seen big profits over the last six years. The number of jobs in these sectors actually increased over time. In nearly every country in the world, the population is still growing. These people need houses, infrastructure and facilities. Any service related to these industries also boomed. Companies producing a Conveyor Chain and other building parts saw growth. This is also true in the metal industries. Gold and other metals were among the few stable investments during the recession.

Computing

High end computing technology thrived during the recession. This stretches over communications technology and electrical equipment. These industries continued to see startling discoveries and innovations during the recession. When a recession hits, governments do everything they can to assist businesses and technology. The easiest way out of a recession, they believe, is to let businesses thrive. That way countries draw in more capital through business and the economy grows. Big businesses and technology are intertwined. They are two areas that were allowed space to grow during the economic downturn.

Mining

Energy is always a competitive industry, no matter what the economic climate. The rush to mine coal, oil and other natural elements never let up during the recession. If anything, mining perhaps saw the biggest growth of any industry. Coal and oil remain solid on the stock market. The world is still heavily reliant on energy provided by coal and gas. Despite the growth of environmental awareness, countries like China are still guzzling natural resources. Mining is the industry that continues to feed this need, even during a recession.

Healthcare

The healthcare industry is one that remains entirely unaffected by economic woes. It strengthens during an economic downturn. Studies show that people’s health diminishes during a recession. They cut down on spending, so eat less healthily. They are exhausted from working harder for less. People exercise less and grind themselves down. Healthcare is also one of the few places that governments will never take money away from. It would be political suicide and take away vital services.

In any recession, there will be a number of industries that thrive. When looking to the future, there are very few recession-proof industries. However, these four are among the top contenders.

About Subodh Tandon

Subodh is a full time marketing consultant and a skilled blogger. His area of interest belongs to marketing and finance related news and love to share all of those topics over the internet. You can catch him directly through this blog.