The beginning of a recession, or even a minor economic downturn, is never the best time to be looking for any job. Although the construction industry can be one that gets hit harder when finances everywhere are tight, that doesn’t mean it’s a bad career choice overall. When you see professionals who have been doing this for 30 or 40 years, you know that they’ve stuck with it through all kinds of economic conditions. It’s reasonable to think that you can too. If you’re worried that a recession means you need to pick a different career, there are reasons to be positive about this one. Here are a few things to consider as you make a choice.
Construction’s Labor Shortage Isn’t Going Away Anytime Soon
The construction industry has a labor shortage that extends back several years. Specifically, this labor shortage began after millions of skilled workers left the industry during the housing crisis. The length of time that the industry has spent trying to fill this gap shows you that it’s not going to go away overnight. Although a recession often leads to a decrease in new construction starts, there are still a lot of projects in the pipeline. That means that the industry still needs a lot more people than it has now.
Recessions Don’t Hit All Fields in the Same Way
When pondering a recession, financial experts tend to talk about industries in very broad terms. But if you make career decisions based on those terms, you might end up cheating yourself out of a good career. In truth, certain parts of an industry may be affected very differently than other parts. For example, if you know that homeowners and businesses will still need maintenance on various aspects of the buildings they own, you can imagine that related fields will not disappear overnight. This is particularly true for fields where there already weren’t enough qualified workers, like electricians.
Economic Improvements Reward the Ambitious
Have you ever missed a big opportunity because you were a little late to decide? This happens all the time throughout your life. Recessions don’t last forever, which means that there will be a turning point where economic conditions start to get better. This is where you’ll see new business owners and homeowners with better financial backing looking for qualified contracting businesses available to meet their increasing needs. If you are already established and ready to help, you will be more likely to be able to take those opportunities than someone who waited a few years to see what happens.
Investing in Education Opens Doors
Some people know what they want to do with their lives by the end of elementary school and are able to build careers to meet those expectations flawlessly. But for most people, settling on the career they want to keep for a lifetime takes at least a little trial and error. The best way to set yourself up for where you want to go is to invest in your education. If you were already close to getting your contractor’s license, there really isn’t anything stopping you from seeing how that works. As with anything, the attempts that you make to find a career that don’t pan out give you practical tips for the future. That means that anything you do right now to learn more and invest in your skills has the potential for a big payoff later.
Economic Downturns Don’t Last Forever
When you’re in the middle of a recession, it feels like one month of struggle lasts a year. But in reality, the worst of a recession or economic downturn often runs for a year or two, after which it gets better. And when that happens, you’ll see that backlog of new construction starts burst through. If you are ready to take advantage of it, you’ll be in a much better position to establish your business and set yourself up for a great long-term career in construction.
Recessions can be difficult, but they don’t have to ruin your career plans. If you’re ready to find out how construction can get through all kinds of economic situations, visit CSLS today!