The global economic market slows down when a recession arrives. The mounting pressure on the companies starts cutting down on their expenses. The first thing which happens is the layoffs. Millions of people are not sure about their job security. The economic crisis leaves everyone stunned and many employees feel the pain of becoming jobless. Investors think many times before investing in any sector. There are many industries that severely affected by the recession like the IT sector.
But there are many industries which have very little to no effect of the recession. These industries do not get affected by unemployment and even the consumer’s behavior. Here is the list of industries that are least affected by the recession.
Education is one sector where you will not find a recession. The population of the world is growing rapidly and education for every single child is a must. No economic breakdown can stop children a better future.
Healthcare is another sector that does not get impacted via recession. The advanced technologies are coming for treatments. The demands of medicines and services by the doctors do not change. You will not find any slow down in the health sector.
3. Financial Advisory
Whenever there is an economic slowdown, the market starts crashing. The stock markets are the first that affects because of the news. People who have invested money in the market are afraid to lose their money, this is where they need financial advisors. Auditors chartered accountants, accountants, market researchers are the most demanded people in the recession.
Even if you do not have a job, you cannot stop using gas, water, and electricity. You have to pay the bills for electricity, water, and gas. These services will not stop during economic slowdowns. Delay in the payments is also not the option, because for that you need to pay the late fees and even the connections are disconnected. The utility sector does not get affected due to recession.
Even if you do not have a job, basic necessities of life cannot be ignored. FMCG is the fourth-largest industry in the Indian economy. Household products, personal care products cannot be stopped using. The demand for these products like toothpaste, detergent, soap, gets sold every now and then. Even if there is an economic slowdown, the use of these products cannot be stopped.