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10 Recession-proof Businesses

3

Information Technology

IT worker
One reason IT continues to be an in-demand job sector is because of an overall lack of qualified workers. iStock/Thinkstock

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Despite the bursting of the information technology (IT) bubble that played a key role in the recession of the early 2000s, information technology was the fastest-growing sector in the United States economy before, during and after the Great Recession of 2007 to 2009 [source: Izzo]. According to the Bureau of Labor Statistics, employment in the IT sector grew 37 percent from 2003 to 2013. In 2009, during the darkest days of the Great Recession, the IT sector only lost 1 percent of its workforce. But by 2010, employment growth had exceeded 2008 levels again [source: Csorny].

IT skills are in even greater demand today than they were back in the 2000s. Because technology now permeates every sector of the economy, every company is now a "tech" company. Every business now needs systems administrators, software designers and cybersecurity specialists, so the demand for qualified workers is higher than ever. In 2019, it took employers an average of 66 days to fill a tech-related position because of the shortage of qualified applicants [source: Liu].

If the Great Recession is any indication, that demand will continue through another economic slump.

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