Recently Myself and a few others were asked this question at one of the skilled trades related forums I've spent some time at.
Q:
"I'm fresh out of trade school and have my certificate. Do you think guys should go in the direction of a fab shop or try to get on with pipefitters union, construction, etc. for stability?
Thanks man."
I replied with more questions, mostly about what conditions and locations this person would prefer. Then the topic turned to stability.
A:
"The thing about whether to try fab and job shops, over pipeline, over high steel, over shipyard, over the next big thing, is that the next big thing is always changing.
Stability is dependent on markets to a degree. Right now construction is still slow, and it seems like pipeline and rig work is starting to ramp up a little, but all that can change in an instant.
Another way to look at stability is to make it personal. Create your own stability where ever you end up. When a problem arises, they always do, be proactive in helping solve it. Learn to work well in a team environment, have a good attitude, give a lot more than just enough to get buy. Care about what you do and how well you do it, never stop learning.
Look at things from everyone’s perspective. Finishing projects accurately ahead of schedule, or at least on schedule, help your employer and you become more profitable, thus more likely to be around to do it all again next year."
To expand a little I would add a couple of points. I'll try not to be too long winded.
There's a lot of things a person can do to create job security, but what happens when markets change. The answer to that is not a simple one. Good people lose good jobs for many reasons.
The thing is to keep working to do better at whatever you're doing, what ever the situation. Even if you do end up losing your job it's not the end of the world, even though it may feel like it. If you're alive there's always a chance things will be better today than yesterday.
"No matter the job climate, quality help is always in demand somewhere. The key to getting and keeping good work is being there and being quality."
There is honor in the doing of any task, no matter how menial, to the best of your abilities.
