Now is the time to start thinking about protecting your income during a recession. Fortunately, there are a number of careers that are basically recession proof, so it is worthwhile to consider entering or transitioning into such jobs given the current economic climate. You may also be able to work for yourself in some of these areas with appropriate training.
- Healthcare is a growing sector with a growing demand for workers. In the last year, more than 350,000 new healthcare jobs were added, making it a vibrant employment sector. This isn't surprising since we have an aging population with growing health needs. There are also ongoing community health demands (such as immunizations) as well as direct treatment services. If you are trained in any area of healthcare or can become trained in it, you will most likely be able to ride out a recession and maintain your income.
- Education jobs always need to be filled regardless of the state of the economy. If you have an undergraduate degree in a subject area which lends itself to adding teaching certification, you will find yourself in a position to obtain recession proof employment. If you already are a trained teacher and are not currently employed as such, now might be a good time to look into returning to work. Children have to attend school, which means that teachers have to be employed.
- Energy and utilities companies will always need workers because people have to pay for these basic services. Advertised positions during a recession are likely to be hotly contested, but by preparing now to meet likely employment requirements you will have a head start. These companies need meter readers, technical staff, administrative staff, and customer service operators.
- The Military recruits on an ongoing basis and offers opportunities for training across a number of administration, communications, and combat roles. The Military will still receive funding in a recession, and employees cannot be laid off as in other careers. For the right people, this is an ideal way of ensuring an income during a recession.
- Public Safety employees, such as police, fire fighters, and paramedics, are rarely laid off. These jobs are necessary for the proper functioning of our society, and they are therefore excellent careers in which to ride out a recession.
- Funeral employees such as undertakers, make-up artists, coffin makers, hearse drivers, and grief counselors are needed on a continuous basis. We may not like to think about, it but we all die, even in a recession. These jobs are necessary in our society.
- Accounting is another profession that tends to do well in a recession. Businesses are trying to survive and often depend on accountants to help them trim the fat from their businesses and to maximize profit.
- In some states, natural resources and mining jobs have been steadily growing. It is worth paying attention to your local job market. If you are in a region offering natural resources jobs, look at the recent job growth history and economic reporting of the companies involved. This will give you a fair idea as to whether specific companies offer jobs that are likely to keep you going during a recession.
- Federal government jobs tend to be safe. Furthermore, during a recession additional government services tend to be needed to help people through difficult times. Public sector jobs therefore tend to be safe during a recession, and obtaining a government job is often easier than obtaining one in the private sector.
- The pharmaceutical industry is still likely to thrive in a recession. Hospitals will still give patients drugs and doctors will still write scripts. There will always be a demand for their products, which makes jobs in this sector fairly safe during a recession.
- Financial Advisors are increasingly in demand, helping people to prepare for and deal with retirement issues. This is a growing employment area which offers some protection in a recession because those who still have incomes will need more help to manage them effectively.
- Environmental jobs are on the rise due to increased awareness of the effects of global warming. If you are interested in applied science and don't know what to specialize in, this is a growing sector offering good employment prospects in a recession.
