While no job is completely recession-proof, some industries provide better job security than others during an economic downturn.
The common thread between these industries, Ball explains, is that they are less sensitive to changes in interest rates, and people depend on these services"whether the economy is booming or in a recession."and retain staff in the wake of the Covid-19 pandemic. Ball expects that there will be increased demand for staff at colleges and universities throughout the U.S.
"People are more apt to go to college if the job market is bad," he says."And if you're graduating from college, and the job market still looks bleak, graduate school becomes much more attractive." Whether you're seeking a new job or not, Dynan stresses the importance of honing your professional skills so you can be a more competitive, valuable worker. Check out which skills appear most often in the job postings you're interested in and start practicing them, or ask your boss if your company offers any professional development courses or webinars.
"There's not a lot you can do above and beyond your normal job responsibilities," she says."But learning what skills employers are looking for, and being able to perform those skills well, is your best insurance."
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