Is Your Career Recession Proof?

November 5th, 2008

In today's uncertain economic climate, job security and stability is of increasing concern to many workers. According to the Employment Law Alliance, a third of 1,159 workers recently surveyed said they were worried about losing their jobs as a result of the economic downturn (www.inc.com). In combination with the continual decline of the stock market and the questions surrounding the ability of the recently-passed 700 billion dollar rescue bill to turn things around, more and more job searchers are seeking out recession-proof careers to provide them with much needed mental and financial security.

What Is A Recession-Proof Career?

Wikipedia.org defines recession-proof careers as goods and services with a low elasticity of demand, where business remains relatively stable regardless of a drop in discretionary income. For example; food and clothing remain necessities, however, during a recession families may decide to change their spending habits, cooking in using cheaper ingredients that store well, like rice or pastas instead of eating out and purchasing clothing at second-hand shops rather than department stores.

Top Ten Recession-Proof Careers

1. Health and Medical
2. Education
3. Government
4. Police and Security
5. Energy
6. International Business
7. Environmental Science
8. Funeral Services
9. Alcohol Retailer
10. Lawyers

Health and Medical

As the baby boomer generation continues to age and with an increasing shortage of qualified applicants, the medical field is one of the safest bets to pursue during a recession. Regardless of how well the economy is functioning, people are going to continue to get ill and require medical attention. "People are getting older, people are getting frailer, and demographics of the population are aging," says Jon Bender, managing partner for PrincetonOne, a New Jersey-based recruiting firm. "Biosciences, physical therapy, occupational therapy - those are jobs that are as recession proof as they come." Because most medical care is deemed essential and not frivolous, there will always be a demand for doctors, nurses, pharmacists and health care workers. Also, due to the amount of training and specific skill requirements necessary for the job, the pay is quite good and job security is very stable.

Education

Teachers play a vital role in shaping the future of our economy. The education of our young people is the first step in the training of tomorrow's leaders and teachers are always in high demand. The National Center for Education Statistics predict that in the next eight years, 2.8 million teachers must join the existing 3.2 million teachers because of retirements, higher enrollment and teacher turnover (aol.com). Although teaching may not be a particularly glamorous profession, good benefits, competitive pay and job stability make it one for the most recession-proof jobs available. Teachers that choose to specialize in math, science or languages are in especially high demand along with teachers who are bilingual. If you can't find a teaching job in your neighborhood, keep looking. States like Texas, Arizona and Nevada who are experiencing large population growth are always looking for teaching help, so relocation may be something to consider as well.

Government

Even in the face of severe economic depression, the government must go on. Whether it's a career in the military or working for a governmental branch like the Federal Reserve, USPS, IRS or Treasury, there will likely be little to no downsizing as government steps in to take a larger role on the direction of our economy. Working for the government is great job security. According the Bureau of Labor Statistics, you're about 75% less likely to get laid off from a government job than a private employer (www.moneyunder30.com). In addition, "Uncle Sam hires approximately two percent of America's total workforce and the pay and benefits are outstanding." Says author and retired employee Dennis V. Damp. Check out www.usajobs.gov for government job listings.

Police and Security

With a decrease in financial stability often comes an upswing of crime. Jobs in criminal justice and policing are in high demand and the Bureau of Labor Statistics reports that layoffs in this industry are rare. According to a 2007 report by the Partnership for Public Service, the Defense and Homeland Security departments need to fill an estimated 83,000 jobs over the next two years, so demand right now is high for qualified applications. In addition, advances in technology have opened up entirely new fields for information security managers, computer programmers and others who provide companies with security in regards to their business tactics, client information and financial records.

Energy

The oil industry faces 80 percent of its work force reaching retirement age in the next decade, according to Challenger, Gray & Christmas, a global outplacement consultancy. Jobs in this industry, as well as in electric, gas alternative and renewable energy sources are all likely to see a big spike as population continues to grow worldwide and China and India continue to expand and use more energy. In addition, as technologies change, jobs in the HVAC field will continue to increase, as service technicians are required to posses the current knowledge and skills necessary to repair ultra-modern units.

International Business

As globalization continues and each country's individual economy becomes more and more linked to a global economy, international business skills become a huge asset. The ability to understand another country's culture and language will go far in securing your company's financial future. According to John Challenger, CEO of Challenger, Gray and Christmas, "If you have a strong knowledge of other cultures, and an ability to work in another country, you'll find plenty of opportunities," It basically comes down to you as an asset, if you're making your company money and you're successful, it will make it hard for them to get rid of you.

Environmental Science

Let's face it; the green movement is getting big. A growing industry built to combat global warming is emerging and they need skilled employees fast. "Not only will professionals with skills in sustainability issues be in demand through the end of the decade, we are likely to face shortages of professionals with ‘green' skills," said Rona Fried, president of sustainablebusiness.com, a networking service for sustainable businesses. The United Nations reported that the environmental industry was responsible for the creation of 5.3 million jobs in 2005, and those numbers will likely increase as concern for the environment grows amongst increasing awareness of the impact our energy policies have had on our climate.

Funeral Services and Taxes

Most famously attributed to Benjamin Franklin, the line "Nothing can be said to be certain, except death and taxes" seems especially relevant during times of financial market collapse. Two of the more feared and despised professions amongst their clients are morticians and tax auditors - for one is not usually visiting under good circumstances. Nonetheless, in the interest of full disclosure, we do admit that the jobs are steady and profitable ones.

Alcohol, Tobacco and Gambling

As it seems, vice does not disappear during times of financial duress. In fact, it's quite the opposite as many people seek refuge from the stress and calamity of their daily routine with entertainment. Stock traders know to invest in the so-called "sin stocks" when things get touch. Follow their lead and invest in a business degree with the plan to enter into casino management, alcohol or tobacco industry. Just make sure not to gamble away your paycheck.

Lawyers

Like the medical field, the legal system doesn't slow down with the economy. People are always going to be breaking laws and getting caught, or needing assistance deciphering complicated health laws, immigration laws, or other perplexing legal situations. In addition to the constant need for good attorneys, legal assistants and paralegals are also in demand. Paralegaldetails.com notes that a recent study conducted by the United States Department of Labor showed that paralegal profession is one of the fastest growing occupations in the nation.

Make Yourself Recession-Proof!

Finally, if you find yourself in a job with minimal job security or declining profits, there are a few things you can do to recession-proof yourself.

1. Expand your knowledge - Take a class on a work related subject or attend a seminar; information is power.
2. Become more versatile - Flexibility is a must, if you can multi-task on several aspects of a project and not just one, do it.
3. Become more valuable - Turn all scheduled work in on time, volunteer for the jobs or projects no one else wants, and really focus on being a skilled and efficient worker.

Remember, no job is totally recession-proof. Always keep up to date on your networking skills, contacts and resume information. If you do find yourself suddenly looking for a job, having thee things current will be invaluable. Also, for every downturn, there's an upswing coming. If you find yourself working a bit harder or working longer hours to make the same amount you were making last year, don't stress out too much! The economy is sure to bounce back. In the meantime, don't forget to take some time out for yourself. Keeping yourself happy is the key to sustaining a great work ethic.

GOOD LUCK!