Seven Industries and Job Markets Being Driven to Extinction
After I got my bachelor’s degree, I applied for a job at a large chain electronics store. Needless to say, I didn’t get the job. Four months later, the chain filed for bankruptcy. I was thankful I hadn’t gotten a job there… but let me tell you, it’s a pain to have to go a half an hour to get to a Best Buy because Circuit City closed down.
Now, the electronics industry is far from being in trouble. But bankruptcy and store closings run rampant. I still can’t get over the fact that Borders is going out of business. Some of these financial hardships are concentrated in certain industries. Here are seven of the most unstable job markets out there…
- Video rentals. Yes, from your down-home rental place to your local Blockbuster, video rental stores are going out of business. The reason is obvious; why waste time and money doing that when I can get rentals sent to my house or watch stuff streamed via Netflix and Blockbuster online? Or, why spend $7 when I can use RedBox for a buck?
- CD and DVD Production. MP3 players and streaming media are killing a lot of the communications market. Okay, maybe not killing it, but definitely morphing it into a new beast. Anyway, CD’s are going the way of the dodo, and the 8-track, and the record, and the cassette tape… and DVD’s are too. Blu-Ray and movie downloads are pulling away from that market too.
- Newspaper publishing. I can get my news for free online, why would I buy a paper? It’s true, why would you? I get the local paper on occasion, but only because they give me like a week for free every few months. The industry, like other communications industries, is going to need to adapt in order to stay viable.
- Telecommunications. It’s sad that four of these seven industries involve communications in some way. This industry, I’m referring to, yes, you guessed it… telephones. I have a landline only because I work from home, but many people see no purpose in having one if they have a cell phone. I totally agree, my circumstances are unique. Many phone companies are jumping on board with satellite and cable companies to offer tiered packages (that include internet, cable, and phone) for a low cost.
- Clothing Production. Textile mills and other parts of the clothing production industry are decreasing in size. Not because people aren’t using their products, but because many people in these industries are being replaced by machines, as is the issue for the next industry…
- Cobbling. Some of you are staring at your screen asking what a cobbler is. It is not a person who makes you delicious fruit cobblers. Sorry. A cobbler is the guy who would fix your shoes for you so that they would last longer. Now, we go to shoe stores and get new shoes more regularly than ever. There are still cobblers (I know a family who, before moving, owned a cobbler shop), but they definitely are less common.
- Thrill Performance Artists. Probably the most random of these all. People just don’t go to the circus or fair as much as they used to. If they want to see people do crazy things… they just watch reality TV. That’s crazy enough for most of us.
So, yeah. If you’ve ever wanted to be a cobbler, an acrobat, a newspaper publisher, or the dude behind the counter at Blockbuster, you really may want to reconsider. These industries are declining rapidly, almost to the point of extinction. Sorry to burst your bubble! Until tomorrow, spend smart, save smart!
