While every single one of us have become all-too familiar with the term ‘boom and bust’ in the wake of the great recession, this cycle of economic prosperity and decline does not always follow the same, predictable course.  This is because there are often multiple factors at play, with social and technological developments sometimes manipulating basic economic values.

This means that while there are several so-called ‘boom and bust’ industries (which are vulnerable to regular peaks and dramatic troughs), these may not always be as volatile or as unreliable as they may seem. This is an important consideration for job seekers; as such misconceptions may encourage them to ignore career opportunities that they are well-suited too.

3 Boom and Bust Industries in 2015

So, let’s take a look at three of the most renowned boom and bust industries and whether they should be avoided in the current economic climate:

Real Estate

The global real estate market is relatively prosperous at present, with the UK sector currently thriving outside of its traditional London power base. Job seekers are particularly wary of this sector, however, thanks primarily to the extent of its peak prior to the catastrophic subprime mortgage collapse of 2008. Not every period of prosperity is followed by an inevitable decline, however, as the British marketplace recently showcase. While the market is not displaying the type of excessive growth that was evident last summer, for example, it has stabilised and is forecast to deliver average growth of 7% in the next three years. This makes it a viable market for the foreseeable future, and if this is a market that interests you all that you will need to do is embark on a relevant training course through an outlet such as Redcliffe Training Associates.

The Crude Oil Sector

Given the sheer value of oil, it should come as no surprise that it is a leading employee of numerous staff members. The recent slump in oil prices (which was triggered by the conflict between Russia and the Ukraine) has led to a significant fall in employment and forced many to seek work elsewhere. The mood of the market has scarcely been helped by a further fall in U.S. oil prices, which tumbled to their lowest point in six years during intraday trading on Monday.  These extended losses are unlikely to be reversed any time in the future, meaning that this may be a sector to avoid for the next twelve months.

Gold and Other Precious Metal Industries

Gold and other similar precious metals are unique in some ways, as they tend to gain in value during times of economic decline. Historically, gold in particular was used as currency, but now it has intrinsic value as both an industrial material and a financial asset. This has actually created more stability in terms of fluctuating precious metal values, with silver (which was commonly used solely as an industrial metal) now also considered as a safe store of value. This means that jobs associated with mining, crafting and distributing precious metals remain more buoyant than ever, and can definitely be relied upon to deliver employment opportunities in 2015 and beyond.