Editor’s Note: This story originally appeared on The Penny Hoarder.
Amid the rising cost of just about everything, Americans have been worried about the economy dipping into a recession for years. And with layoffs starting to pile up amid a softening job market, recession fears can creep up.
If you’re concerned about stability in your own job, you may be considering a shift to recession-proof jobs.
What Are Recession-Proof Jobs?
When a recession happens, the labor market tends to contract. That means hiring freezes and layoffs. Recession-proof jobs are positions where you’re likely to see more job stability — even in light of a contracting labor market.
Remember that “likely” is not a guarantee. It is possible to work in recession-proof jobs and industries and still feel the adverse effects of a recession. There are just some that historically have been more stable than others.
Why It Matters to Choose a Recession-Proof Career
Choosing a recession-proof career gives you a little more peace of mind with potential job security in a time of economic uncertainty. If you can adapt your career to current market conditions, you’re more likely to be able to secure consistent income.
As you’re thinking about making a switch to a career that can survive economic downturns, it can help to evaluate your transferable skills as you make the leap into an industry with more resilience.
While no field is completely immune from the effects of a recession, there are some professions that fare better than others. If you’re looking to make a career pivot in the near future, here are recession-proof jobs to consider as you build a new skill set.
1. Health Care Professionals
People still have medical needs in a down economy. In this moment, there are unique factors strengthening the medical field as relatively recession-proof, too.
The first is that even prior to the pandemic, there was a nursing shortage. During the extreme conditions of the pandemic, many health care workers understandably burned out and left the field. That means the projected nursing shortage got even worse.
On top of that, baby boomers are aging. This is a large generation. As they get older, their health care needs increase, putting even more demand on the field.
It’s not just nurses. Other recession-proof medical jobs include positions like doctors, radiologists and medical technicians. While some of these jobs require going back to school for long periods of time, others can be achieved with an associate’s degree or certificate, which you can usually get through your local community college.
2. Teachers and Education Professionals
While working in America’s public K-12 education system may not be the highest-paying field, it is one where there is a lot of demand.
The pay may not make you rich, but education is one of the few fields in America that is still consistently unionized. That means educators are more likely than most to have access to a competitive health insurance plan, a pension and some level of job protection from the union.
There are some significant asterisks, though. Your job is most secure if you’ve been in the union for a while, as time spent in service is typically more important than actual contemporary job performance.
Your job also is more secure if you work in a school district that is economically advantaged, which means they have better ability to run their payroll entirely on property taxes. During the 2008 recession, we saw teaching jobs cut in districts that relied on state funding in addition to property taxes, as most states implemented austerity policies in response to contracting markets.
That means if states once again cut their budgets in response to a recession, teachers in districts with lower property values are at higher risk — especially teachers who are new to the field.
3. Public Safety Workers
Usually during a recession, we’d say government jobs are pretty stable. That hasn’t been the case with the Trump administration.
However, one area of government services that is likely to make it out relatively unscathed is public safety workers for local government. Think police officers, firefighters and EMTs. These are essential positions politicians are usually loath to cut — even if they are otherwise against government spending.
4. Utility Workers
One sector that’s always in demand — even during a recession — are skilled labor positions. Utility workers like electricians, plumbers and HVAC technicians will be needed even if the economy ultimately tanks.
The good thing about these professions is you can pursue them without going to college or taking on student loans.
That doesn’t mean you can just walk in the door, though. You will have to get professional training and then complete an apprenticeship before you’re qualified to work on your own. While you might not be investing as much money to pursue one of these jobs, you will have to invest some time.
5. IT Support Specialists and Cybersecurity Experts
In some sectors of the economy, you might feel like the robots are coming for your job with the advent of AI. But someone needs to program and service all those robots. In the age of technology, one field that’s decently recession-proof is IT support and cybersecurity.
Now, during a recession, positions like a software developer at a startup might become more scant. Growth is not typically a feature of a recession economy, which means funding for startups may not be as abundant. But work in AI and data protection are likely to be more secure.
6. Delivery Drivers and Logistics Specialists
Back in 2008, retail workers at places like grocery stores would have made the list of recession-proof jobs because no matter how bad the economy gets, people have to eat something.
While some of these jobs might withstand a contracting labor market, the positions aren’t as prolific as they were 17 years ago before the widespread adoption of self-checkout systems.
You can bet companies will need delivery drivers for all that food, though. Even if you’re not keen to drive a semi, more and more people are having their food and other essentials delivered to their home, opening up more delivery driver positions. This could be for companies like Amazon, DoorDash and UberEats.
Behind all those deliveries are logistics specialists. In the recent past, America historically has been good at logistics — especially in the corporate sector. If there are product shortages, supply-chain issues or other dramas in this space, the need for these logistics managers may increase rather than decrease.
7. Pharmacists and Pharmacy Technicians
If you’re thinking this one rhymes with medical professionals, you’d be right. While no one has a crystal ball, pharmacists and pharmacy technicians are likely to be more secure in their jobs through a recession for the same reasons medical professionals are likely to remain in high demand in the coming years.
8. Insurance Professionals
If you work in the right field, insurance can be a recession-proof profession. This is especially true if the insurance you’re selling is legally mandated, like auto insurance or specific types of business or professional insurance.
Other policy sectors are a little less predictable. While some people might turn to products like life insurance or umbrella insurance to ebb off their fears in scary economic times, others are likely to default or cancel their plans as they make tough choices and tighten their purse strings.
9. Funeral Service Professionals
The only two constants in life are death and taxes. And when someone passes away, families turn to funeral home owners to handle their goodbyes. This is true whether there’s a recession happening or not. Plus, funerals are expensive, regardless of the economy.
Owning a funeral home isn’t the only way to find stability in this field. You can also pursue a career as an embalmer, crematory operator or cemetery caretaker.
10. Financial Advisors and Credit Counselors
As we saw during the 2008 recession, far from all financial professions are recession-proof.
When the market goes haywire, you may be OK if you work with a large client base that has a high net worth. That’s because they need advice as they manage their investments and other assets during a time of market uncertainty.
However, people are likely to be more skittish about making new investments during a recession, and financial professionals lower down the food chain should not count on their careers being recession-proof.
Clients who aren’t as well off are more likely to need to engage with financial services in a recession — just not on the investment side. While they may not turn to a CFA for stock advice, they are more likely to need credit counselors and professionals to walk them through the bankruptcy process.
How to Future-Proof Your Career Against Recessions
If you’ve been working in a white-collar, knowledge-based job throughout your career, the name of the game should another recession hit might just be “pivot.” For some, that might mean humbling themselves, working in fields where you don’t need the college degree you’ve leaned on for most of your career.
For other people, finding a recession-proof job might mean going back to school, whether you’re pursuing an M.D. or entering a certificate program.
Ultimately, if you’re not already working in a field that’s relatively immune to recessions, the key to future-proofing your career is likely to be adaptability. Keep your resume up to date and keep up networking efforts just in case.
Building Stability With Recession-Proof Jobs
Being stable means being prepared. If you’re feeling nervous about losing your job, be sure to familiarize yourself with programs like unemployment, COBRA and Medicaid now so the process doesn’t take you off guard in case of the worst.
It’s also a good idea to start diversifying your skill set and resume in the background. While career changes aren’t terribly fun when they’re brought on by external factors, they can be a heck of a lot easier if you’ve got something going on the back burner before everything falls apart.
-1024x683.jpg "The Human Trafficking Crisis Continues in America")
