Do Recession Proof Jobs Exist?
Yes, recession proof jobs do exist. Some, like law enforcement, are considered to be recession resistant since resources are reliant on government funding, but unfortunately crime will always exist.
The current job market is pretty good
Unemployment is lower than it has been in the past few years. Experts who study the market and recessions are not predicting a downturn this year. However, it will happen eventually. Everything works on a cycle.
Some industries are hit harder than others by recessions such as finance and construction. People hold onto their money and new builds slow down when things get tight. Other areas are fairly recession proof but no one is exempt from feeling the effects of a slow down.
There are things you can do to protect yourself, your investments, and your career from the “fickle” market. If you are starting your career or thinking of changing careers, the following are common recession proof jobs.
Recession Proof Jobs
The following careers and jobs are considered to be more stable during a recession.
1. Medical Professionals
People will continue to age and get sick. Also, with the added stress and financial strain that a recession can bring on, these professionals will be in high demand.
2. Mental Health Providers
It is no surprise that people are stressed out about their finances during recessions and downturns. This can lead to a range of other personal and interpersonal psychological issues. Money issues can also put a strain on relationships and marriages, so marriage counselors often see an increase in patients.
3. Senior Care Providers
As baby boomers continue to age their level of health care needs increase. Nursing homes will always need staff to serve this aging population.
4. Pharmacists & Pharmacy Technicians
Just like with physical and mental health issues, people will continue to need medication during a recession. Also, more people are prescribed antidepressants and other stress-relieving medications in order to cope with tough times.
5. Energy and Utilities
We will always need light and electricity not matter what the economy is doing. Research and development into green technology will most likely stay steady as well.
6. Law Enforcement and Firefighters
Crime tends to rise dramatically when people feel the stress of serious financial problems. However, these recession proof jobs rely on public funding so state and federal budget cuts can still affect them.
7. Web Builders and IT Professionals
Automating processes and relying heavily on tech based solutions can help businesses reduce labor hours.
8. Marketing Agencies
While it is true that marketing budgets are often one of the first things to get reduced when bottom lines are squeezed, businesses still have to be creative in marketing to bring more business in. Social media and content based marketing will see a big increase.
9. College Professor
Many people go back to school in order to obtain recession proof jobs if their current situation is in jeopardy. College professors with tenure rarely feel the effects of a recession.
10. International Business Professionals
As we move toward a more global economy and business are outsourcing work overseas, professionals who can conduct international business will be in high demand. This includes understanding the culture and language of different countries.
Good Luck! Happy Career Hunting!
We are here for you!
Need more job advice?
Join Our Discussion
For more insights and a community of like-minded professionals join our LinkedIn group Resume Help and Advice for Professionals and Executives
From January 2020 to date, the situation has changed drastically. Is it not?
Many industries thought to be recession-proof have shut shops including Health-care (non-COVID treatment, surgeries have been cancelled or postponed)
Number of legal cases taken up in the last three months in many countries went down by over 75% due to lockdown
Literally there is no industry that is recession-proof today!
Am I right?
You make a good point. This blog was written in January 2020 before we could foresee how the pandemic has changed many industries. However, there are a lot of essential (and non-essential) industries that have thrived due to (or in spite of) Covid-19. While anything is possible and we can’t ever predict everything that will happen, there are certainly some industries that fair better than others in typical recessions. Nothing about the current situation is typical. Thank you so much for your thoughts!