These are the most recession-proof industries
Economic analysts have been warning about a coming recession ever since the end of the global pandemic and it has spurred some serious fear about whose jobs will be safe in the next downturn and whose jobs are at risk.
Luckily smarter minds have come together and collected the best types of jobs to have if you’re trying to weather a recession, and spoiler alert, you don’t want to be working in any position consumers might consider superfluous spending.
Think entertainment and anything to do with tourism. Once people need to start cutting from their budgets it's those nights out on the town and weekends away on a gorgeous island that get removed first. So what is a good job to have in a recession?
One of the best positions you can have is something in educational services according to Canada’s CTV News, which reasoned schools can limit their extracurricular funding but they will always need teachers whether it is by primary school or higher.
That also means that positions supporting education are also likely not to be affected too much. Think of positions like daycare workers, social workers, and online educators. It is these positions that won’t be under threat in the next recession.
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Healthcare is also another extremely resilient sector in an economic downturn based on comments from Zip Recruiters Chief Economic Analyst Julia Pollack to USA Today. One thing nurses and doctors don’t have to worry about is losing their jobs.
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But the spectrum of workers that fall into the healthcare sector is big so those employed in home and personal care are also normally safe, as well as medical assistants. These kinds of roles are “very resilient” according to Pollack.
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Law enforcement is a lot like the healthcare sector in that a recession isn’t going to stop people from committing crimes. In fact, a study from the London School of Economics in 2018 found recession might even play a role in creating career criminals!
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That means we're always going to need police officers patrolling our streets so hoping in the profession might be a good move. However, if you’re not interested in being on the frontlines of stopping crime there are other options, just choose a supporting position.
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This one may not surprise you but being essential to a business also makes you rather invulnerable to being laid off during a recession. Well, as long as your company doesn’t go under of course.
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“Roles that tend to do well in downturns span industries and skill sets,” Co-founder and CEO of Catalant Technologies Pat Petitti told Fast Company, adding that “there are core functions businesses cannot afford to run without.” So what are these core functions?
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Petitti explained that financial professionals, attorneys, and some technology specialists will find that their jobs do well in a downturn. So if you want to make sure you’re not on the chopping block it might be time to apply for a position the business can’t lose!
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Fast Company also noted that trades and utilities were also great places to be if you are scared about a coming recession. Again, like healthcare and law enforcement, society is still going to need people building and fixing its infrastructure.
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“Essential trade jobs like pipefitting, electrical and plumbing services are also relatively safe during hard times,” Petitti explained. Pipes will still burst, people will still need their power fixed when it's knocked out, and everyone needs proper heating and cooling.
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The key message here is that it doesn’t really matter what industry you’re in as long as you choose a position that is invaluable to your business or essential for society to run smoothly. As long as you’ve got one of those two bases covered then you’ll be okay.
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However, you really don’t want to find yourself working in the tourism, human resources, or real estate industries according to BetterUp. These industries tend to include jobs that are the first to go in a major economic downturn.
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