In today’s uncertain economic climate, many individuals are seeking career paths that are resilient to economic downturns. A recession-proof career is one that remains stable or even thrives during periods of economic recession.
In the last few years, the economy, COVID-19, sophisticated artificial intelligence (AI), and other influences have transformed the workforce. As a result, many workers are interested in recession-proof jobs.
According to a recent study, 61% of professionals under 35 are thinking about their career goals, finances, and job security. The good news is that the economy is cyclical—it goes through periods of high and slow growth. Although there isn’t one industry or profession that’s completely immune to a recession, some high-demand careers have more job security than others.
If you’re thinking about your next career move, here are some of the most recession-proof jobs and how to future-proof your skills.
What are recession-proof jobs?
You don’t need to be an economics expert to find a recession-proof job. However, a basic understanding of the economy can help you identify the careers most likely to provide long-term security. Recession-proof jobs remain in demand even when the economy shrinks.
Typically, recession-proof careers involve -
Essential products and services - Consumers may eliminate luxuries when money is tight but still need essentials like groceries and healthcare.
Desirable skills - Companies consistently need highly skilled experts in cybersecurity and medicine.
Adaptable industries - Some industries and companies thrive more than others during economic uncertainty.
No one can predict the future, but recession-proof jobs may offer more financial security than other career paths. Also, almost 40% of workers prioritise job security when making a career change. Fortunately, there are many careers with high job security.
Recession-proof jobs to help you plan for your future career
Software Engineers and Developers - Openings for Software Developers are expected to increase by 26% between 2021 and 2031. Because software engineering jobs are versatile, they’re more recession-proof. In today’s modern world virtually every industry needs this skill..
Along with a positive job outlook, Software Engineers and Developers often appear at the top of highest-paying jobs lists and there are many exciting Software Engineer career paths to choose from including –
Back-End Developer
Data Engineer
DevOps Engineer
Front-End Developer
Full Stack Developer
Game Developer
Mobile App Developer
Security Developer
Site Reliability Engineer
Cybersecurity - Cybersecurity is another high-paying career with strong job security. All industries must protect valuable data, so the demand for cybersecurity experts is high and roles available are expected to grow 35% over the next decade which places cybersecurity as the 8th fastest-growing industry. Popular roles include -
Cybersecurity Analyst
Incident Responder
Cybersecurity Engineer
Information Security Analyst
Security Administrator
Chief Information Security Officer
Finance - Finance careers can be surprisingly recession-proof. Financial professionals help individuals and organisations manage money and investments. During lean times, businesses and individuals rely on financial experts to minimise losses and maximise profits.
The skills you need to land a finance job vary depending on the role. The finance industry has a broad range of career opportunities to choose from, including –
Financial Analyst
Quantitative Analyst
Financial Adviser / Wealth Manager
Investment Banker
Portfolio Manager
Private Equity Associate
Stockbroker
Accountant
Actuary
Credit Analyst
Public Sector / Government Jobs - Approximately 6 million people work within the public sector in the UK which was 135k higher than in 2022. Historically, government jobs have offered high job security. These positions generally get paid from tax revenue, so they’re usually more recession-proof than jobs in sales-driven industries. Also, laws and unions may protect certain government workers from unexpected layoffs and budget cuts.
Government employees work in areas like administration, education, public welfare, and recreation. The largest employers in the UK include the British Army, British Council, Child Maintenance Service, NHS, Crown Prosecution Service, Department for Culture, Media and Sports, Environment Agency, Financial Conduct Authority, HMRC, Met Police, MI6, MI5 etc. Here are a few government jobs with high job security -
Law i.e. prosecution
Paramedics, Doctors, Nurses, Administrators etc.
Immigration Agents
Social Workers
Teachers
Police, Fire Service, Armed Forces
Project Managers
Data Analysts
Cyber Security Engineers
Healthcare professionals - The healthcare industry will always remain recession-proof as it is not subject to the forces of the economy. Popular healthcare jobs include -
Dental Assistant
Health Information Technologist
Home Carer / Care Home Assistant
Physical Therapist
Public Health Data Analyst
Registered Nurse
Doctor
Surgeon
Social Worker
Law - Legal professionals help corporations and individuals understand and comply with laws and regulations. Those that work in law deal with issues that happen no matter the state of the economy—civil rights, crime, divorce, intellectual property rights, and more. The demand for legal professionals will increase by 10% by 2031 and career paths include -
Criminal Defence Lawyer
Judge
Legal Assistant
Mediator
Paralegal
Police Officer
Education - Education careers tend to have a lower earning potential, compared to other careers on this list however they have one, if not the highest rates of job security. Also, those working at private rather than public institutions do have the ability to earn more and with the potential career path to ‘Head' roles this offers a long and rewarding career trajectory.
Some job types includes –
University Lecturer
Teacher
School Librarian
School Office Manager
EA to Headmaster / Misstress
Teacher Assistant
Laboratory Assistant
Research Assistant
Top Recession-Proof Skills
Communication and sales - All industries need workers who can effectively interact with clients and help generate revenue.
Programming languages - Most organisations use software and other technology, so knowledge of popular programming languages like JavaScript and Python can make you an appealing job candidate.
Project management - Managing complex projects is a universal skill that can help you excel in any industry. These abilities are in high demand in multiple sectors and won’t lose value during a recession.
So what jobs are most at-risk during an economic downturn?
Some industries feel the impact of an economic slump more than others. These industries tend to get hit the hardest and are normally associated non-necessity lifestyle choices.
Hospitality and tourism - Many cut down on holidays and travel to save money.
Entertainment and leisure - People tend to seek at-home forms of entertainment during a recession.
Retail - Sales of non-essential goods like cosmetics and new cars typically drop during recessions.
How to build recession-proof skills
Building recession-proof skills can help you prepare for the future. Plus, these abilities may lead to career advancement and higher pay during periods of growth.
Continuously develop in-demand and transferable skills
Industries and technology evolve constantly, so you need to continuously update your skills to stay relevant. Building versatile skills that transfer across positions and industries will help you prepare for a promotion or career change.
Start by auditing your skills to detect knowledge gaps. Study the LinkedIn profiles and CVs of top people in your field to see which skills you’re missing. It’s also helpful to network with professionals who have your dream career.
Next, seek out opportunities for upskilling through apprenticeships, online courses, conferences, or certifications.
Gain work experience and build connections with apprenticeships
Apprenticeships are one of the most effective ways to develop a professional network and learn new skills. Within these you get hands-on training from a leading employer. If you become an apprentice, you’ll also earn a salary while you develop your skills.
Freshen up your personal branding often
Your personal brand reflects your experience, values, skills, and other factors that will influence hiring decisions. Updating your personal branding will help you land new job opportunities that appeal to you. Here are 5 ways to refresh your brand -
Build a portfolio of projects to display your creative and technical skills.
Continuously update your skills by building your knowledge through courses, certificates, and more.
Delete unprofessional or irrelevant posts from your career-related social media profiles.
Present at conferences in your field to establish your expertise and network with colleagues.
Share your industry knowledge through your website, blogs, LinkedIn posts, email, or other media.
Recession-proof your future
While no industry or career is completely safe from economic downturns, choosing a recession-proof career can increase your long-term job security. It is also vital to develop good habits within your financial management, living within your means if a recession hits your current industry, to provide you with a financial cushion. This will afford you the time and reduce your stress levels, whilst seeking to secure yourself a new rewarding career path and role.
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