Career to survive a depressed economy

When thinking of a recession proof career, you are most likely thinking of job security over the long term. This implies that you will be able to earn an income from your career even when the economy is on a downturn or not performing very well.

There are hardly any careers that are totally unaffected these days, and each individual career is unique. You can however improve your statistical chances of being marketable and staying in the job market even when things get tough in the economy.

Below are some helpful tips on how to choose a career that can weather an economic downturn better than most other careers.

  1. Skills, industry and experience

It is very important to have an honest reflection of your current state. Whether you are about to plan a new career, change your career or make yourself more relevant in your current career, you need to honestly evaluate your skills in relation to what your career goal plans are.

  • If you are embarking on a new career and you are young, then you will have more choice and flexibility to choose whatever will be best for you.

If you want to start a new career or want/need to change to a different career because you have lost your current occupation then your circumstances could dictate your choice. For example, if you have a spouse who has a job and you have an opportunity to re-train, try to get the best executive MBA that will help you become more relevant in a particular field of expertise. If you don’t have a support system, you might have to take some online classes that are less expensive but would still prepare you for a new career. Either way you will be more marketable to an employer because you bring to the table a diverse set of skills and experience from a different career path.

  • The more indispensable you become to a company that you work for, the greater the job security you will have. Embrace your company’s ideals and mission more than anyone else in the company and the company is likely to keep you around for a long time, especially if you directly contribute to the company’s bottom line.
  1. Study trends and history

History is often the best teacher, so you would be wise to learn how the economy, be it regional or global, behaves during economic recessions or downturns. This will help you keep an eye on current trends and be able to place trends into a better historical perspective.

For example, you might notice that careers in security (police), water, electricity, telecoms, food industry, health and IT will barely be affected by the state of the economy.

  1. Find a career that you love that society cannot do without

Careers that are based on providing food, energy, health, education and IT services usually have a high demand. This is because people will always need to eat, have their illnesses treated, and learn new things about their environment, and in modern day, we all need computing power and internet services in order to do things more efficiently and effectively, and in the least time possible

The tips suggested are not exhaustive, but hopefully they will steer you in the right direction towards a career that will be fulfilling and in demand no matter the state of the economy.

Author’s bio

Jenny Richards is an experienced career counselor. She retired from a 15 year career in financial services and decided to follow her passion in guiding and counseling young people on how to build their careers by enrolling for the best executive MBA. To find out more about what she has to advise about careers, visit her site.



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