Let’s face it, no job is completely safe from a recession. Recessions can hit jobs in ways we don’t expect, depending on what caused the recession and how it affects your local area. However, some jobs are safer than others when the economy takes a hit.
While some of the most recession-resistant jobs require advanced degrees, like being a doctor, there are others that don’t even need a college degree. Some of these jobs even allow you to work from anywhere, whether that’s from the comfort of your own home or while traveling the world.
If you’re thinking about switching careers to increase your income and protect your career from a potential global recession, here are some jobs to consider:
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Health Care Professionals: People still get sick, regardless of whether the economy is booming or busting. This means that health care workers like doctors, nurses, and hospital administrators are usually safe from recessions. However, elective medical service providers, like cosmetic surgeons, might see a decrease in business during a recession.
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Physical & Occupational Therapists: These therapists are often part of the treatment plan for many ailments and most health insurance policies cover at least some of the costs. While they might see a slight decrease in demand during a recession, their jobs and income are usually more secure than most.
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Mental Health & Substance Abuse Professionals: Stress levels often skyrocket during recessions, leading to more mental health challenges and substance abuse. This means that counselors, therapists, and psychiatrists stay in high demand, even during recessions.
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Social Workers: Social workers help people cope with their problems, and when the economy tanks, there’s no shortage of problems to cope with.
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Senior Care Providers: People still age during recessions, and they often need help to do so safely and comfortably. This means that senior care workers, like nurses and support staff, usually have secure jobs during economic downturns.
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Hospice Workers: Hospice care is a specialized form of care that helps keep people comfortable as they approach the end of their lives. This need doesn’t go away during a recession.
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Funeral Workers: People still pass away, regardless of the state of the economy. This means that funeral workers usually have secure jobs during a recession.
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Accountants & Auditors: Everyone still needs to file a tax return, regardless of the state of the economy. This means that accountants and auditors usually have secure jobs during a recession.
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Actuaries: Actuaries help businesses analyze risk, which is especially important during times of economic crisis. This means that actuaries usually have secure jobs during a recession.
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Insurance Providers, Underwriters, & Appraisers: While insurance companies might see a dip in demand during a recession, most people keep their jobs and their insurance policies. This means that insurance professionals usually have secure jobs during a recession.
The list goes on, including firefighters, law enforcement officers, corrections workers, judiciary workers, military and defense personnel, federal employees, educators, public utility workers, long-term real estate investors, marketers, pharmacists, IT workers, grocers, veterinarians, auto mechanics, librarians, public transit workers, drivers, and more.
While recessions are painful and few people can claim immunity, some professions get hit harder than others. If you’re worried about your job’s future or you’ve already lost your job, consider the professions above as relative safe havens during tough times. Don’t be afraid to go back to school to retool your skill set, even while on unemployment. By the time you get your degree or certification, the economic clouds may have passed and the hiring market might look much brighter.
