Recessions are inevitable.
In fact, we are only just starting to emerge from our economies most recent recession – one in which many jobs were lost across a variety of different fields and industries.
It is not unwarranted for you to be curious about what kinds of recession proof career options are available out there, whether you are one of the unfortunate many who lost their jobs or you are just proactively seeking a more stable future.
So what are your options? Below, we’ve outlined 5 different careers that should get you safely through the next recession, whenever it may come.
Lawyers, whether real estate or criminal, are always in demand.
During a recession the need for real estate lawyers might actually increase, as people try to sell rental properties, vacation properties, or even try to downsize their primary residence.
Unfortunately the same is true for criminal lawyers – recessions can drive people to take drastic measures when facing financial hardships, and often this can mean an increase in crime rate.
Health Care Worker
Essentially any position within the health care industry should be safe during a recession. Illnesses and injuries do not magically pause or disappear because of financial hardship, meaning that nurses, physicians, surgeons, emergency medical responders, etc. are general not affected by the economy’s ups and downs.
Not only are teachers and professors needed regardless of the economic state of the country, but they also often have tenure in their positions. This is true of both elementary and secondary teachers and also of university or other post-secondary professors.
Having tenure during a recession is about as safe as a safety net can get. You do not run the risk of being fired or let go, except in the case of program discontinuation, which is typically unlikely.
Regardless of the economy, individuals and companies alike need help with their finances and bookkeeping. This is true especially during tax season – taxes are due every April whether the economy is in our favour or not. This alone can be considered the reason accountants are safe even during a recession.
In fact, a recession may even bring more business to accountants as people or businesses seek advice and aid in improving their expense and income balancing and getting the most out of their tax returns (or at minimum owing less than anticipated).
While budgets may tighten during recessions, public sector workers generally have high job security.
The government constantly has a number of different projects going on that both provide jobs and also provide an area for funding to be cut from without letting workers go.
Take Your Pick
Each of these career options are unique, but each of them provide a relatively high level of security and stability during recessions for various reasons. Of course, no job is 100% recession-proof, but if you are concerned for your job security, these are the types of jobs that will offer you the best chance at making it out of the next recession unscathed.