What key differentiator makes skilled trade jobs like auto mechanics highly stable during credit tightening periods?
Answer
The need to repair existing property/vehicles rather than new installation or expansion.
The stability of skilled trades during economic contractions is directly linked to the shift in focus from new builds to maintenance and repair. When credit tightens, consumers and businesses delay expensive capital expenditures like new construction or purchasing replacement vehicles. Consequently, they choose to repair their current assets—cars, HVAC units, plumbing—boosting demand for specialists like auto mechanics and plumbers who fix what is already broken, contrasting sharply with roles focused on purely new installations.
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