When a recession strikes, it’s natural to feel apprehensive about your job stability. And while no one can predict the future, some career choices are more recession-proof than others. This article will discuss 10 different recession-proof jobs that you may want to consider in 2023. These jobs can remain viable in any economic climate and are always in high demand. So, if you’re looking for some career options that can offer some security in uncertain times, read on.
- How To Manage The Prospect of a Global Recession
- Recession-Proof Jobs: Skills To Master
- What Makes for Recession-Proof Jobs?
- 10 Recession-Proof Jobs
- Recession-Proof Jobs: Frequently Asked Questions
- 1. What are some recession-proof jobs?
- 2. How do I prepare for a recession-proof career?
- 3. Are grocery store employees recession-proof?
- 4. Is a career in the government protected from an economic downturn?
- 5. What industries tend to remain stable during a recession?
- 6. Where can I find more information on finding a secure job during difficult times?
- Conclusion: Recession-Proof Jobs
How To Manage The Prospect of a Global Recession
In 2022’s fourth quarter, there were some rumblings among worldwide business analysts and financial experts. Persistent interest rate rises and the news that several powerhouse tech companies, including Amazon, were experiencing major job cuts have sparked the conversation that a global recession may be on the horizon. As the prospect of an international recession looms, it’s only natural to worry about your job security.
So, you may ask yourself what to do in a recession. Well, it can be beneficial to familiarise yourself with the industries, skills and jobs that tend to survive, and even prosper during times of economic hardship. Let’s talk about soft and hard recession-proof skills you should master to help guarantee a secure job future.
Recession-Proof Jobs: Skills To Master
There are certain skills that everyone should have down pat. These skills are known as soft skills and are highly transferable in different professional settings. Cultivating these skills can give you an advantage in the workforce should the economic climate become unstable. These soft skills include:
- Interpersonal skills
- Good time management
- Effective communication
- Creative thinking
- Critical thinking
- Emotional intelligence
- Ability to problem-solve
What Makes for Recession-Proof Jobs?
Recession-proof jobs are essential for upholding a community’s well-being and stability. These roles typically involve catering to universal needs such as healthcare, education, utilities, childcare, social assistance work, and emergency services.
Although no job is entirely resistant to an economic downturn, some roles manage to remain relatively unscathed during times of inflation and financial crisis. In many cases, they don’t just survive in a struggling economy but often thrive.
Ultimately, these are the sorts of jobs that keep a society operational and should be the ones to consider for maximum job security.
10 Recession-Proof Jobs
Here are 10 recession-proof industries to consider in 2023.
- Delivery & Courier Services
- Financial Services
- Trades & Utilities
- IT Specialists
- Supermarket Staff
The healthcare industry is always in high demand, making it one of the most reliable sectors to work within. From general practitioners and nurses to surgeons and pharmacists, the healthcare sector offers numerous career paths and opportunities, regardless of what state the economy is in.
Sub-sectors in mental health and aged care are also relatively recession-proof careers to pursue. In times of stress, the demand for mental health counselling increases significantly, providing many professionals in these fields with a large volume of patients. As people age, they will require continued support, thus making working with the elderly a healthcare profession that can offer excellent job security as well.
Education is a cornerstone of most societies. It’s considered a pillar of stability, even in times of economic volatility. People will always prioritise learning and investing in their education, regardless of their age or needs. This means that education staff like preschool, primary school teachers, and university professors have pretty secure, recession-proof jobs.
The field of education extends to many other jobs as well. It includes academic administration staff, school counsellors, online teaching and distance education. Teaching is a vocation unlike any other, and an indispensable one at that. Becoming an educator means you can really make a difference in the lives of many while pursuing a career that sits firmly among other recession-proof industries.
Delivery and Courier Services
These days, you can have almost anything delivered straight to your door, in most cases on the same day. Because of this, drivers and couriers who specialise in prompt delivery are highly desired and new positions frequently open up to accommodate this demand. If you’re someone who loves driving, you can take advantage of this option as one of the best recession-proof businesses.
So far, modern technology has yet to fully replace the need for physical drivers. Until such time, delivery drivers and couriers are in big demand and won’t be greatly impacted by an economic downturn. You can explore opportunities within a local courier service, venture out of town by seeking employment with a national shipping company, or even go solo as an independent contractor. Established delivery services such as UberEAts are one such example.
Even in a challenging economic climate, people still require legal counsel. In fact, much like the rise in mental health concerns, it’s during these stressful times that divorce, crime and bankruptcy rates tend to surge. This all implies a higher need for attorneys and legal services. Similarly, the support staff of lawyers will also be highly sought-after roles. Paralegals, typists and legal administrative staff are all needed, which makes this whole industry fairly recession-proof.
While switching gears completely into the world of litigation might not be feasible for some people, if you’re pondering the prospect of becoming a lawyer yourself, just know that it’s entirely possible. Based on your personality, strengths and attributes, making a career change into law could be very rewarding as well as financially fulfilling, even in global economic uncertainty.
During a global recession, finance professionals are in high demand. Financial advisors, real estate brokers, insurance underwriters, investment analysts, portfolio managers, auditors, loan officers and banking professionals can all benefit from being part of an industry that’s largely immune to economic disruption.
In the financial sector, demand for these professionals isn’t affected by the markets. In fact, they’re often needed even more during difficult times. People need help to manage their investments and money wisely, even when budgets are tight. Financial services are a recession-proof industry that always performs well and continues to remain profitable in challenging times. Now could be the perfect time to consider this lucrative job field.
Despite any world circumstances, accountants will always remain a necessity. Much like financial professionals, accountants are indispensable for business owners and entrepreneurs. This may be especially true in times of economic uncertainty. This is because taking an inventory of your financial situation with the guidance of a trusted accountant can be invaluable in keeping your business afloat during a recession.
Accountants are ultimately responsible for crunching numbers, regardless of whether it be to help individuals with taxes or businesses requiring assistance with financial reports. So, if you’re passionate about working with numbers, a career as an accountant could be the perfect pivot for your future. Not only is it a secure profession that will provide financial security during an economic turn, but it also offers excellent earning potential.
Trades & Utilities
Despite being overlooked, utility workers are essential frontline responders with jobs that remain steady even during times of economic hardship. The daily operations of any household, business, school, hospital or shopping centre just wouldn’t be possible without the skills of qualified tradespeople at the ready. Utilities and services like water, electricity, telecommunications, and waste management are essential to keep society functioning safely.
Jobs in this sector will always be in demand, making it a safe bet as a recession-proof career. What’s more, the financial return on some of these positions, such as electricians and builders is fairly substantial. To future-proof your career, you may want to consider working in this industry.
The IT sector is likely to experience a surge in demand, even as many larger companies make staffing cuts. Working from home has become an increasingly popular option for employees and businesses have had to adopt technology to cater for this change in recent years. As organisations look for ways to reduce costs and maximise productivity during remote operations, they will turn towards IT specialists with expertise in various aspects of the online world and other technologies necessary for working from home.
Even when the economy could take a nosedive, corporate networks and databases still need to remain accessible. Consequently, IT professionals, including network administrators, software engineers, programmers, website designers and data analysts could be highly sought-after as businesses shift their strategies amidst this recessionary environment. These positions come with immense opportunities for growth and success.
For organisations to remain competitive in their respective industries, data-driven decisions are essential. However, this also makes them vulnerable to cybercrimes and puts their business at risk of financial, strategic, operational or reputational damage. In response to this increased risk, cybersecurity professionals have become paramount for the security of confidential information.
Protecting sensitive data like finances, and personal and medical information is not only important for an organisation’s bottom line but matters in terms of global security as well. Accordingly, there is an ever-growing demand for skilled individuals and professionals in the cybersecurity realm, making it another recession-proof job option.
No matter how healthy or weak the economy is, you gotta eat. The types of food you choose and what you can afford may vary with the economy, but your local grocery store will always be there to meet your nutritional and household needs. This makes jobs like cashiers and supermarket staff in this industry relatively secure during times when other occupations are suffering due to a downturn. This is a modest, yet rewarding option among many recession-proof jobs available. If you’re looking for job stability during tough financial times, then working in a grocery store could be an ideal option.
Recession-Proof Jobs: Frequently Asked Questions
1. What are some recession-proof jobs?
Other than the aforementioned jobs listed, some other recession-proof jobs are worth considering if you want to ensure better job security through adverse financial conditions. These include allied and specialised healthcare, emergency service providers and first responders, pharmacists, SEO specialists, content writers, correctional officers, law enforcement officers, scientists & laboratory technicians, electronics repair specialists, mechanics and veterinarians. These jobs are in essential or high-demand industries and tend to remain steady during a recession.
2. How do I prepare for a recession-proof career?
To prepare for a recession-proof career, it’s important to research industries that remain steady during economic downturns. If needed, you should develop the skills and knowledge needed in those industries, such as technical skills or specialised industry certifications. Something you can always do is look up resources in your local areas, including state or federal unemployment benefits or other assistance programs.
Try to avoid industries that are considered to be non-essential. When financial instability hits, these non-essential jobs or industries that rely on luxury items, products or services are particularly vulnerable. Industries such as travel, restaurants, leisure activities, entertainment venues, real estate firms and auto dealerships are the hardest hit in these times.
3. Are grocery store employees recession-proof?
Yes, grocery store employees have relatively safe jobs that are often recession-proof. Grocery stores will always be in demand during a recession since they provide essential items like food and household supplies to the public. Ideally, if you’re looking for a job in a grocery store or supermarket, you should consider the large chain stores for the greatest chance at job security. Specialty or high-end grocery stores may be more vulnerable to economic downturns.
4. Is a career in the government protected from an economic downturn?
If you work in the public sector, chances are your job will be secure during an economic recession. Working for the government provides a sense of job security that many other industries in the private sector cannot offer. That being said, there may be some slight fluctuations caused by early retirements or hiring freezes. However, thanks to their service-minded nature, government positions are much less likely to face job losses compared to those in the corporate world.
5. What industries tend to remain stable during a recession?
Health and medical services are overall the most stable during economic downturns. This industry is largely unaffected by economic recessions as people will always need healthcare services when they are ill or injured. Other industries such as utilities, consumer staples, and technology also tend to stay relatively steady during a recession due to their necessity for everyday life.
Financial services, such as banks and insurance companies, can also be relatively stable during a financial slowdown as they are more financially fit than other industries, which helps them weather the economic storm. Lastly, industries that are essential for national defence or public safety tend to remain secure even in the face of a recession. These industries include military suppliers, special forces, government contractors, and state-run enterprises. The stability of these industries makes them attractive if you’re looking for relatively safe options during times of economic uncertainty.
6. Where can I find more information on finding a secure job during difficult times?
When it comes to learning about job security during difficult financial times, doing your own research is a great first step. Upskilling, learning a new skill and networking with other professionals in your field can help you to stay informed about potential job opportunities and the best practices for staying employed. By taking an active role in pursuing secure job options, you can ensure that you are prepared to weather any economic storms that may come.
Conclusion: Recession-Proof Jobs
These recession-proof jobs all have something in common: they’re in sectors that remain strong despite economic fluctuations. No matter the state of the global economy, these jobs will remain viable and secure. Thus, they’re the perfect option for aspiring entrepreneurs who want to start their own recession-proof business in 2023.
So if you’re considering starting a new venture or changing careers, be sure to explore opportunities in these recession-proof industries that are expected to perform well for many years to come. Doing your research and weighing up the pros and cons will help to ensure that you’re investing in a secure business or career path for the future.