Recession Proof Jobs
Recession proof jobs might be a bit of a fantasy. An economic downturn is bound to affect everything it touches, but some industries perform far better than others.
Here’s a list of our top industries and jobs that fare best during troubling times.
- What is a recession?
- List of recession proof industries (and jobs)
- How to recession proof your current career
- Worst jobs to have during a recession
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What is a Recession?
Before we go much further, it’s important to define what a recession is. The National Bureau of Economic Research (NBER) says a recession is a decline in economic activity that lasts an extended period, sometimes months but up to years.
Recessions can happen for all sorts of reasons. Sometimes it’s due to a country’s excessive debt, inflation, or deflation. Other times it’s due to a sudden economic shock like a country might face during a pandemic or natural disaster.
Most often, though, it’s due to various factors, and, regardless, individuals have no control over when it happens.
Recession Proof Jobs (with Industries)
During a recession, it’s common for people to lose work because companies are producing and selling less than before.
Some industries, though, are considered recession-proof and will hardly feel the economic downturn at all. Let’s zoom in on a few that you can tweak your resume to fit.
Even if a country’s economy makes a sudden decline, those in the healthcare field typically do alright.
No matter what happens, people will still get sick or injured and find themselves in need of medical care. Of course, some parts of the healthcare industry do better than others.
If you’re a trauma nurse or X-ray technician, you’ll likely still be in business. But, if you’re a plastic surgeon who specializes in elective procedures, you might find yourself struggling.
- Personal Care Aide
- Nurse Practitioner
- Physical Therapist
- Diagnostic Medical Sonographer
- Occupational Therapy Assistant
2. Federal Employees
Working for the government always has its perks, and one of them is typically being safe during an economic downturn.
Even when other industries start to collapse, the country still needs government services.
Court systems, the military, and working for the post office all tend to provide greater job security during a recession than working in the private sector.
- Postal Service Mail Carriers
- Office Clerks
- Census Taker
- Court Reporter
3. Public Safety
Police officers, firefighters, and even security guards tend to be safe from job loss during a recession. Sometimes they’re in even higher demand as crime rates tend to rise when the economy goes bad.
- Police Officers
- Correctional Officers
Children don’t stop going to school when recessions hit, making teaching or school administration a safe bet. Of course, college professors and other academics are usually in a good place too.
It’s common for those who lost or can’t find jobs to go back to school in hopes of making themselves more valuable to the employers that are still hiring.
- School Teachers
- Janitors or Custodians
- Special Education Teachers
5. Grocery/Food Production
We all have to eat, even when times are tough! So, grocery store employees are almost always safe from job loss.
It’s not just checkers and baggers that maintain their positions, though. Food manufacturers, especially for staple items like milk, rice and bread, tend to be fine as well.
- Warehouse Director
- Store Managers
Some areas of law may struggle during a recession, but most legal professionals make it out unscathed.
Unfortunately, things like crime and divorce can be more common in periods of economic uncertainty. Attorneys that specialize in those areas are usually indispensable, even during a recession.
- Court reporters
- Legal Assistants
7. Debt Counselors
Obviously, job loss leads to debt for many, so debt counseling services tend to be in high demand during a recession. Becoming a debt counselor or credit specialist is a good choice in the event of a recession.
- Collections Representative
- Call Center Manager
- Accounts Collector
8. Funeral Services
Sadly, death doesn’t stop during a recession, and grieving families still need help laying their loved ones to rest.
Whether as a funeral director, embalming specialist, or gravedigger, those with jobs in this area will likely be fine in a recession.
- Funeral Attendant
- Sales Manager
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How To Recession-Proof Your Current Job
Maybe finding a recession proof job isn’t an option based on your skillset. Don’t fret. There are plenty of things you can do to make sure you survive a recession without much of a negative impact.
Start by asking yourself what you bring to the table that no one else can. Do you have experience in a specific area? Do you have a skill that your coworkers don’t? Maybe you know a second language or how to work a particular machine.
Essentially, think beyond your current job title. Try to be creative so that when push comes to shove and your job’s on the line, you can convince your employer you’re too valuable to let go.
Develop a Side Hustle
- Whether it’s driving for Uber or opening up an Etsy store, side hustles can help make ends meet if you do lose your job. Sometimes they even blossom into a new career!
- Plus, side gigs can act as a creative outlet, which can help when things get rough. Mental health is hugely important during a recession, especially if you’re out of your regular work.
Work Your Network
Keeping up with colleagues and peers is a good idea for career progress in general. During a recession, it can be vital.
- The truth is, you can do everything at work right and still lose your current job. Staying active in your network can help you find a new position that much faster if things take a turn for the worst.
Continue your Education
- Take advantage of certifications and continuing education opportunities when they arise.
- Sitting through the six-hour health and safety seminar might seem like a drag, but being the certified health and safety person at work might save your place during a recession.Certifications can be costly, and employers don’t want to lose on their investments.
- Plus, extra education or certifications never looks bad on a resume if it comes down to that.
Frequently Asked Questions (FAQ)
What are the worst Industries to Be In During a Recession?
- Travel Industry: During recessions, people tend to postpone any unnecessary travel.
- Construction: Construction projects are usually put on hold during tough times.
- Furniture: During a downturn, people hold off on making major purchases like furniture.
- Office Supplies: While projects and work dial back, so does the supplies needed to work them.
How can I make extra money in a recession?
The best way to make extra money during a recession will depend on your individual circumstances and skills but here are a few ideas if you are ever put in that situation:
- Offer freelance or part-time services
- Sell items online
- Rent out a room on Airbnb
- Offer pet-sitting or dog-walking services
- Rent out your car
Wrapping Up | Recession Proof Jobs
When all is said and done, a real recession proof job might be more fiction than fact. But there are things you can do to help yourself when the economy’s out of whack.
To recap our top industries:
- Federal Employees
- Public Safety
- Food Production
- Debt Counselor
- Funeral Services
You can search for a job in specific industries known to fare better than others, or you can make yourself indispensable at work.
Either option is better than doing nothing. Good luck out there!
Title: Recession Proof Jobs for 2023
Tags: Recession proof jobs, recession proof industry, jobs during a recession, what jobs are recession proof, worst jobs during recession, recession proof jobs 2023, recession proof careers, career opportunities during a recession
Author: Reid is a contributor to theJub. He’s an employment and marketing enthusiast who studied business before taking on various recruiting, management, and marketing roles. More from the author. | Author Profile
What industries are recession-proof in 2023? ›
Some recession-proof industries include healthcare, food manufacturing and supply, infant care and education, repair services, financial services, legal services and others.What is the safest job during a recession? ›
1. Healthcare Professional. Whether you're a physician, a nurse, or a hospital administrator, your job is safe during a recession. No matter the state of the economy, healthcare is an essential service.What job is good during recession? ›
- Emergency service providers.
- SEO specialists.
- IT experts.
- Content writers.
- Lab technicians.
- Electronics repair specialists.
- Grocery store managers and workers.
- Retail. According to economists, the retail industry is among the industries most affected by recession in 2023. ...
- Restaurant. ...
- Travel & Tourism. ...
- Real Estate. ...
- Energy. Information. technology. Health care. Utilities.
- Real estate. Materials. Industrials. Communication. services.
- Consumer. staples. Consumer. discretionary. Financials.
- Childcare. Daycare will always be in demand as long as parents need someone to care for their children while they work. ...
- Repair Services. ...
- Funeral Homes. ...
- Trash Haulers. ...
- Cigarettes and Alcohol.
- Education Services. Education services have some of the most stable recession-proof jobs. ...
- The Medical Profession. Healthcare workers are indispensable regardless of the economy. ...
- Law Enforcement. ...
- Specialized Care. ...
- Cybersecurity. ...
- Utility Services. ...
- Are Government Jobs Recession-Proof? ...
- Is Construction Recession-Proof?
Companies with layoffs in 2023:
Roomba layoffs: 7% of workforce laid off (February, 2023) Disney layoffs: 3% of workforce laid off (February, 2023) Zoom layoffs: 15% of workforce laid off (February, 2023) Dell layoffs: 5% of workforce laid off (February, 2023)
A 2023 recession would mean job losses for most industries even as others add workers. The mild recession that economists are predicting this year will likely mean job losses for most U.S. industries, from manufacturing to professional services. But some sectors will be slammed harder than others, experts say.What is in most demand during a recession? ›
Companies that offer grocery items, consumer basics, repair and maintenance services, discount retail, or professional services are more likely to be able to attract customers in any economic climate.
What jobs are first to go in a recession? ›
The jobs that are the “first to go” when a recession hits are the ones that depend on consumer spending and people having copious disposable income, says Kory Kantenga, a senior economist at LinkedIn. Retail, restaurants, hotels and real estate are some of the businesses often hurt during a recession.How do I find a job in a recession? ›
- Prioritize lucrative and growing industries. ...
- Identify companies to apply to. ...
- Look to other fields. ...
- Create an action plan. ...
- Contact your professional and personal network. ...
- Write a strong cover letter and resume. ...
- Consider temporary work opportunities. ...
- Pursue freelance work.
- The easiest way to get rich during a recession is to invest as much money into the stock market as you can. ...
- Most important is that if you're spending less, you'll have more money available to put into the stock market. ...
- By reducing your expenses, you also give yourself more breathing room if your income decreases.
Industries affected most include retail, restaurants, travel/tourism, leisure/hospitality, service purveyors, real estate, & manufacturing/warehouse.What businesses boom in a recession? ›
Businesses in the home improvement contracting, auto repair, childcare and accounting industries do well in a recession. Suffice to say, most consumers deem these services as essential and will keep spending their money on them, rather than wait for better economic conditions.Which industry will boom in next 5 years? ›
- 5G Security. ...
- Virtual Reality Gaming. ...
- Virtualization Software. ...
- Digital Education. ...
- Healthcare Predictive Analytics. ...
- Cannabis Edibles. ...
- E-commerce Logistics. ...
- Solar Energy Solutions.
- Renewable energy sector in India.
- Semiconductor sector in India.
- Drone industry in India.
- Artificial Intelligence (AI) sector in India.
- Internet of Things (IoT) sector in India.
- The Internet of Things.
- 3-D Printing.
- Finding Trust in the Sharing Economy.
- Wearables in Health Care.
- Virtual Reality.
- Connected Schooling.
- Digitized Hospitality.
- Keep debts under control. ...
- Review your tolerance for losses. ...
- Build up your liquidity. ...
- Re-evaluate your job prospects. ...
- Delay retirement if you can.
Economists often see a massive increase in demand for their services as the general public, businesses, and policy makers grapple with the recession. Consultants, government policy advisors, and even media personalities may also find opportunities to market their expertise during uncertain economic times.
Which industries are least affected by recession? ›
- 5 Recession Resistant Industries.
- Consumer Staples.
- Grocery Stores/Discount Retail.
- Alcoholic Beverages.
- Death and Funeral Services.
- The Bottom Line.
8 Tips for How to Find a Job in a Bad Economy. A recession can be the toughest time to look for a new job. Whether you've just graduated, were laid off, or are looking for a new gig with a better title and higher pay, you'll probably want to know how to find a job in a bad economy.Who is most affected by a recession? ›
Retail, restaurants, and hotels aren't the only businesses often hurt during a recession. Automotive, oil and gas, sports, real estate, and many others see heavy declines during times like these.What jobs will not be in demand in the future? ›
Jobs that won't exist in the future
- Travel Agent Jobs. ...
- Cashier Jobs. ...
- Telemarketer Jobs. ...
- Safety Inspector Jobs. ...
- Assembly Line Worker Jobs. ...
- Newspaper Delivery Jobs. ...
- Referee Jobs. ...
- Train Driver Jobs.
Important job roles:
- App developer.
- Business systems analyst.
- Cloud computing manager.
- Data Science & Cloud Computing (Cloud computing goes hand in hand with data science, and cloud computing jobs range from architects and developers to data scientists)
- Artificial intelligence (AI) and machine learning (ML)
- Big Data Science.
- Digital Marketing & Strategy.
That's the prediction of The Conference Board. But some economists project the U.S. will avoid a contraction in GDP altogether.Will it be hard to get a job in 2023? ›
Overall, the job market is likely to slow down in 2023 as compared to the historically low unemployment rates of 2022. This is considered a return to normal economic conditions. However, new jobs will be created, and there will be opportunities for diligent job seekers to find work.How will the job market look in 2023? ›
Hiring will slow in 2023 — but jobseekers will still hold the power. Even though several U.S. companies have slashed staff in recent months, workers will continue to have the upper hand in the labor market this year.What industries grow in recession? ›
- Healthcare Industry. The first industry that pops into my mind while thinking about companies that can perform well during economic slowdown is the healthcare industry. ...
- Education Industry. ...
- FMCG industry. ...
- Utility Industry. ...
- Financial Advisory.
How long do recessions last? ›
Recessions can last from a few weeks to several years, depending on the cause and government response. Data from the National Bureau of Economic Research shows that between 1854 and 2022, the average recession lasted 17 months.Is it better to have cash or property in a recession? ›
In addition, during recessions, people with access to cash are in a better position to take advantage of investment opportunities that can significantly improve their finances long-term.How much cash do I need in a recession? ›
Single earners: Put aside 6 months or more
Personal finance expert and best-selling author Suze Orman has also recommended extra savings, and recently told CNBC she pushes for 8-12 months of expenses.
Put bluntly, cash can help during a recession because it's not stocks. While the stock market often picks up steam during the recovery phase, during the recession itself, stocks may plunge to new record lows or stagnate.How likely is a recession in 2023? ›
The threat of a U.S. recession remains alive in 2023. The consensus estimate on the probability of a meaningful downturn in the American economy in the next 12 months is at 65%, according to Goldman Sachs Research. But our own economic analysis rates that probability much lower, at 35%.What are the economic predictions for 2023? ›
Global growth is projected to fall from an estimated 3.4 percent in 2022 to 2.9 percent in 2023, then rise to 3.1 percent in 2024. The forecast for 2023 is 0.2 percentage point higher than predicted in the October 2022 World Economic Outlook (WEO) but below the historical (2000–19) average of 3.8 percent.Is a recession predicted for 2023? ›
In a recent poll of economists, the World Economic Forum found that nearly two-thirds of the respondents believe there will be a recession in 2023. But here's the good news: Many analysts expect a relatively mild and short recession, or what is sometimes referred to as recession with a small r.Is there a chance of recession in 2023? ›
Global Recession 2023: According to the Centre for Economics and Business Research (CEBR) and several other agencies, a global recession will start in 2023.How to prepare for a recession in 2023? ›
- Keep debts under control. ...
- Review your tolerance for losses. ...
- Build up your liquidity. ...
- Re-evaluate your job prospects. ...
- Delay retirement if you can.
“However, this downturn will be relatively mild and brief, and growth should rebound in 2024 as inflation ebbs further and the Fed begins to loosen monetary policy.”
How long is the recession expected to last? ›
In its own forecast, the central bank shows rate cuts starting in 2024. Swonk believes the Fed will have to backtrack on higher rates at some point because of the recession, but Simons expects a recession could run through the end of 2024 in a period of high rates. The last two recessions came after shocks.What will inflation look like in 2023? ›
Following the 8.8% global inflation rate in 2022, the IMF forecasts a 6.6% rate for 2023 and 4.3% rate for 2024 based on their most recent January 2023 update. For the optimists, the good news is that the double-digit inflation that characterized nearly half the world in 2022 is expected to be less prevalent this year.What will happen to the US economy in 2023? ›
We forecast that real GDP growth will slow to 0.3 percent in 2023, and then rebound to 1.6 percent in 2024. US GDP growth defied expectations in late 2022, but we expect persistently high inflation and rising interest rates to tip the economy into a brief and mild recession starting in Q1 2023.Will the economy get better in 2024? ›
Following the 2024 recession, the economy is slated to improve, with rising trends anticipated for US GDP, US Industrial Production, and many individual industries and markets in 2025. This should continue through the rest of the 2020s, with the US economy rising at various rates during that time.How many years on average will it take to recover from a recession? ›
How long and how bad is the average recession? A recent Forbes analysis showed the average period of economic growth lasted 3.2 years while the average recession lasted 1.5 years – an average of 4.7 years for the full cycle.