Recession-Proof Careers: The What, Why, and How
According to a report by the World Economic Forum, it is estimated that around 85 million jobs may be displaced by 2025 due to technological disruption. The growing economic crisis in the world is also getting stronger, affecting people’s jobs. Although it’s hard to calculate the number of people who lose their jobs during an economic recession, we can assure you that the loss is huge. During the Great Recession of 2008–2009 alone, the U.S. economy lost a total of 8.7 million jobs, and the unemployment rate reached its highest peak of 10%.
With all this uncertainty that’s going on in the world, only one thing is clear—recession-proof careers are now more important than ever. Losing your job either to technological progress or crisis is no fun. So it’s important to choose a job that offers stability early on while still in college.
So the question is how to choose a career like this as a student. To get started, you might want to hire an essay writer to help you out with homework and other coursework to have more free time because you will have to go a long path. Choosing a solid recession-proof job isn’t easy. But below, we’ve gathered a few smart tips that will help you make the right choice.
What Is a Recession-Proof Career?
Before we move on to hands-on tips, let’s get clear on the definition. A recession-proof career is a type of job that remains relatively stable and in demand during periods of economic recession or downturn. These careers are typically associated with industries or sectors that provide essential services. That is, these fields are less impacted by fluctuations in consumer spending or have a steady demand for their products or services. Some common examples of recession-proof fields are healthcare, IT, public service, accounting, education, and more.
Why Should Students Choose a Job Like This?
As you can easily guess from the definition, the primary reason to pick a recession-proof career for you is to ensure your career success. Such jobs provide a sense of security and stability even during the toughest periods, such as global crises or economic uncertainties. They can guarantee a steady and high income. Also, they are resilient to automation. So the benefits are huge and worth working for.
7 Tips for Choosing the Right Recession-Proof Career While in College
Choosing a career like this is a surefire way to ensure your future stability and prosperity. However, making a choice can be tough.
Below are a few handy tips and steps that will help you make this choice.
Assess Your Interests and Skills
Start by identifying your strengths, interests, and skills. Although you want a stable job, you also want it to be interesting and pleasant to you. Think about what you enjoy doing and what you are good at. Also, consider any factual experience you have gained through part-time and other jobs. Make a list to know what you should look for.
Research the Job Market
Before you move on to this stage, you should consider finding the top paper writing services to back you up academically because this research will take some time. Look into the industries and sectors projected to grow. Also, research job demand and salary expectations for different careers to help you identify which fields might offer the best opportunities for long-term stability.
Consider Essential Industries
As was mentioned earlier, certain industries, such as healthcare, education, and government, are often considered more recession-proof than others. These industries typically provide essential services that are less impacted by economic crises. So it’s wise to consider them as your possible options.
Evaluate Automation Risk
Looking for a stable, future-proof job, don’t forget about technological progress and associated risks. Some careers are more vulnerable to automation than others. Consider the level of automation risk in the sector you are interested in. And explore opportunities to develop skills that are less likely to be automated.
Seek Out Mentorship and Guidance
After you do some research yourself, consider also talking to professionals in your field of interest and seek guidance from career counselors or mentors. They can offer valuable insights into the industry.
Make a List of Options and Choose Wisely
After using all the aforementioned tips, you should already have some idea of the options you have. Make a list of all of them, and only then make your choice. Compare and assess the options based on stability, security, job satisfaction, and other factors. But also, don’t forget to keep in mind your interests, as well as skills and long-term goals, to choose a job that you will love.
Develop Transferable Skills
This is a bonus tip. While the previous ones will help you pick a future-proof career, this one will ensure that you will always be in demand as a professional. Transferable skills can be applied to a variety of roles and industries. Skills such as communication, problem-solving, and teamwork are highly valued by all employers and can make you a more competitive job candidate.
Choosing a recession-proof career is a combination of research, self-assessment, and strategic skill development. Use the tips we shared with you to build a stable and rewarding career after college.