World economy experiences its ups and downs, pushed by periods of high growth and slowdown. The last recession in 2008 lasted for around eighteen months and it resulted in more than 2.5 million job losses in United States itself. The global count is said to be many times higher than this figure.
So, what can we do to protect our jobs at times of recession and slowdown? Well, one solution could be that you choose a job that’s relatively less affected by economic ups and downs. Here are some recession proof job options that you can consider.
School teacher: Children will still need to attend school even during times of recession or slowdown. There may be a few students who may drop out, but the school and classes will continue to run as usual. Your pay package as a teacher will also not get affected due to recession.
Healthcare professional: Career options like doctors, nurse and other jobs in healthcare remain largely unaffected due to recessionary trends. Sick people need to get treatment and medicines irrespective of whether they have a job or not. People without jobs rely on their savings or borrow from family or friends to get treatment.
Professor: Just like a school teacher, the job of a professor remains largely unaffected by economic ups and downs. The educational institution may witness a drop in number of new admissions, but cases of colleges shutting down completely due to recession are extremely rare.
Utility worker: People employed with public utility companies are quite immune to recessionary job losses. Utilities like water, electricity, roads, telecom, gas, and other services are essentials that have to be continued at all times.
Police and armed forces: The government may announce some budgetary cuts for these institutions at times of recession, but job cuts are usually not on the agenda.
Funeral services: This may not be a job for everyone, but it’s certainly recession proof. There is no change in the death rate, irrespective of whether it is a high growth period or a recessionary phase.
These jobs may be less affected by recession and slowdown, but even then there’s no guarantee of 100% protection. Your experience, expertise, talent, hard work and dedication will also play a role in determining whether you lose or retain your job. So, don’t adopt a laidback attitude even if you are in a relatively safe career. Always try to learn more and acquire new skills, so that you can increase your chances of retaining your job at times of recession and slowdown.