The last couple of months have brought warnings that a recession may be coming. Due to inflation, we have seen negative changes in the stock market and now companies are preparing for potential hiring freezes and layoffs.
Unfortunately, this change in the job market has caused many Americans to become concerned. Not too long ago, our country was seeing rising wages and strong job prospects, however, now citizens are worried about job security if the recession does occur.
If you are looking for a new position that could possibly withstand the possible recession, there are four industries you may want to consider: health care, government, education, and computers and information technology.
These four industries are being considered ‘recession-proof’ since they are less sensitive to changes that occur in interest rates. The industries are also depended on by citizens even when there is an economic downturn.
Although we can never truly know which industries will be least affected by a recession, historically industries that satisfy our basic needs or are considered necessities generally remain unscathed.
For example, if we take a look at education, we can understand that schools have struggled to hire and retain teachers due to the pandemic, but education has always remained stable during unfortunate events. It is predicted that when the recession hits, more individuals will seek out higher education so it is possible we may see an increased demand for staff at universities and colleges.
Even if you are not considering looking for a new job, it is recommended that you hone your professional skills so that you are prepared to show you can be a valuable asset to a company. Be sure to keep up on professional development and take advantage of courses and webinars that are available to help give yourself an edge. In your free time, check out the skills that appear often in job postings so that you can learn them.
Although you may not be searching for a new position, it is always a good idea to stay prepared and continue to develop skills so you can be prepared to capitalize on employment opportunities.
