Experts believe that the country is heading towards a recession, meaning jobs could become scarce despite the great number of openings in recent years. But if you’re looking for a new career, you’ll do your best to keep applying and networking regardless.
While some industries will be more difficult to break into, others are more “recession-proof.” We’ve looked at our own experience as recruiters and looked to experts nationwide to find the most recession-proof industries. If you’ve got the skills and experience to be choosy with your targeted industries, you’ll find these industries the safest to conduct your search.
Healthcare
While there are often many conflicting opinions on the most recession-proof industries, one that almost everyone seems to agree on is the healthcare and medical industry. These industries saw consistent growth during the pandemic and continue to grow.
Investopedia found healthcare one of the industries least affected by the Great Resignation and has traditionally done well in economic downturns. It makes sense—medical care is always important, and the industry is filled with openings at all levels. Our own experiences agree, and we’ve continued to find success working with healthcare companies. See if any of our current openings are right for you on our job board!
Financial services
When money is tight, people are more likely to be cautious with their savings and look to the experts for advice. This means that financial professionals at all levels will continue to do well even in a recession.
James Hornick of Hirewell discussed that traditional ‘money’ industries, including financial services, real estate, and banking, continue to do well and bring in talent, and that of Hirewell’s open jobs, 17.7% of their openings are in banking and financial services.
“Finances and taxes are a necessary part of life, so people in these professions usually have plenty of job security.” –Coursera
Private banking is doing particularly well as people look for advice. CBS News found that the annual median salary for private bankers went up 25%.
Trades
Just as healthcare and financial help will always be necessary no matter the state of the economy, infrastructure will need to be repaired and systems need to be kept running. These factors mean that skilled trades will always be in demand.
“People still need power, they still need gas for their homes, that type of thing.” –Morgan Llewellyn, Jobvite
Fast Company’s Gwen Morgan found that the reoccurring nature of utilities and the constant need to upgrade and repair important systems means that those with skilled trades have a good measure of job security—a boon in uncertain times.
Education
You’ll notice a theme in many of these industries—they must persist through any economy thanks to being ingrained in our society. As such, it should be no surprise that teachers are always in high demand.
Coursera believes both K-12 education and higher education will continue to ramp up hiring during a recession. Education was also one of the industries hit hardest by the Great Resignation, meaning there are plenty of openings.
Top Resume’s Natalia Autenrieth points out that this doesn’t mean just traditional teachers will be hired. The way education is delivered has changed, with remote and on-demand learning models becoming more ubiquitous. This means there are more flexible openings available.
Grocery stores
Our final recession-proof industry is one that we all need—groceries. In poor economic times, people will look to stock up on vital products, like we saw with toilet paper during the pandemic. Grocery stores will continue to fill consumer needs in any economy.
Elisabetta Ferri writes that in tough economic times, people are less likely to rely on takeout and will prefer the cheaper option of making meals at home, leading to increased business for the grocers. Meanwhile, Coursera points to more people relying on personal shoppers or grocery delivery thanks to rapidly expanding technology. This intersection of money-saving and spending for convenience means grocery stores will hire at all levels.
Wrap up
We’ve found that the most recession-proof jobs are those that are “essential” for day-to-day life. Luxuries may suffer, but some aspects of life like healthcare, financial assistance, trades, education, and groceries are always necessary. Thankfully, these industries offer opportunities at multiple education and experience levels, which should help you find a position that’s just right for you!
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