5 Careers That Are Virtually Recession-Proof
Recessions can hurt an entire nation or economical region. However, some jobs are more likely than others to vanish during a recession, and those considering a particular career might want to investigate whether its jobs are likely to survive a recession. Here are five careers likely to survive recessions.
Although the legal field can contract a bit when a recession strikes, the total impact on lawyers is fairly small. Prosecutors, defense attorneys and others dealing with criminal court will have plenty of opportunities, but lawyers in civil fields are likely to see continued work as well. Car accident lawyers, for example, will have a similar number of potential clients coming in throughout recessions as victims of negligent driving will still need their services.
Recessions can affect the tech industry as a whole, but some jobs offer better security than others. IT technicians are needed to keep existing infrastructure up and running. Furthermore, many businesses retool during recessions, and many might need IT technicians to upgrade or replace their technology infrastructure. In fact, recessions can offer a great opportunity for IT professionals to consider consulting jobs.
Crime doesn’t stop when a recession strikes, and law enforcement officers can expect to remain comfortably employed during recessions. Furthermore, some believe that crime increases during a recession, so a decision to cut back on police officers will meet significant resistance. Those working the field, however, may still experience budget cuts leading to lower salaries and fewer perks.
While people are less likely to see a doctor during a recession, the effect is fairly small. People who are sick or injured need medical care, and no recession is enough to have a serious impact on doctors. Nurse practitioners and other primary care medical professionals can benefit from the steady demand for medical care as well.
Even if some businesses fold, most will remain afloat during a recession even if they downsize. Accountants remain in demand during recessions because companies still need to pay taxes and perform bookkeeping. In fact, the structural changes businesses often make during recessions can lead to more opportunities for accountants, leading to higher salaries and more job opportunities.
Recessions are a relatively common occurrence, and an extended period of unemployment can cause significant financial difficulties. People typically imagine a career with only brief interruptions, but this often isn’t the case. When considering potential careers, keep job stability during a recession in mind.