Many financial experts have warned that the US economy is headed for a recession, which is historically associated with higher borrowing rates, unemployment, and layoffs. As such, many students are wondering how to prepare themselves for the next economic downturn. The key to being recession proof is knowing which industries are likely to remain in business. In addition, recession-proof careers can increase job security.
Watch the video below, It will help you identify which jobs are best for you during times of economic uncertainty. In the video we also talk about how to best prepare for a recession and the different careers that are recession proof.
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The top six recession-proof careers and the industries that they’re in that is what we’re going to be talking about today. So let’s go ahead, jump right into the video with the very first career and Industry, which is education and by education I mean all different types of teachers. All the way from you know, government employed elementary teachers to professors that are employed by universities.
These types of jobs are extremely stable and they tend to do very well when it comes to recessions. Now, teachers in elementary middle school and high school in the US are really important for one, because they’re definitely essential in a modern society. Teaching is incredibly important and you need to educate people, but with that being said beyond that, teaching is also technically a government job and government jobs tend to be incredibly stable, although it is usually a local government job. So it’s not going to be quite as stable as a federal job would be now. Another interesting thing about recessions is: whenever a recession starts, you typically see a bunch of people go back to college.
The reason for this is because many people end up losing their jobs. They have trouble getting another job, so they decide to add on more education. So if anything, you could almost say that colleges tend to do better during recessions and then the third type of education that I’m going to talk about is alternative education. This is the new form of Education. That’s popping up.
There are many different versions of this. All the way from learning things online on websites like udemy, skillshare and teachable all the way to going to a ten thousand dollar boot camp in order to learn how to become a software developer. And many of these alternatives are oftentimes quite a bit better, faster and cheaper than college, and one example of this that I’ve talked about quite a bit on my channel is digital marketing. For instance, I’ve interviewed another YouTuber Seth, who has hundreds, if not thousands, of different reviews from people who he’s helped become a digital marketer and the best thing is: he teaches people how to do this without any education or a college degree. So this is great for people who don’t have a degree or they do have a degree, but it’s kind of a useless degree or they have a degree but they’re in a career they’re not really happy with, and they want to transition into something else.
Now, as a digital marketer, you are likely going to be helping your company run ads and marketing, and running paid ads is necessary to a company right. This isn’t something that’s optional for companies they have to run paid ads in order to acquire customers. Now, if you want to learn more about digital marketing, you can check out Seth’s free digital marketing, masterclass I’ll put that down in the description below, as well as the penned comment. Speaking of digital marketing, that is a remote job which leads to the next one. On the list, which is remote technology careers, now one thing: that’s amazing, about the technology industry is these companies tend to be so competitive with each other that, in the case of a recession, they likely would hire more people if anything, not less.
The reason for this is if a recession were to happen, they would see this as a phenomenal opportunity for them to acquire more talent, and these tech companies are on a mission to acquire the most amount of talent so that they can beat the other ones right. So a recession to them is an opportunity for them to gain an upper hand on their competition. Now sure some companies are going to lay off people that’s bound to happen, but overall, I think Tech is going to be one of the more stable Industries. Now. Another great thing about having remote employees if you’re a company is it makes you much more agile, and by that I mean you, don’t have to have some giant building that you’re renting for like a million dollars a month, or maybe you purchased it for like 10 Or 20 million you can just have your employees work from home and save all that money on overhead cost right.
So this is another pretty solid option. Overall, the next option is probably going to surprise you, and that is Online Entertainment, believe it or not online entertainment. In my opinion is going to be relatively safe, now, entertainment as a whole will take a huge hit in the case of recession, but online entertainment, specifically in my opinion, is going to do well. For instance, in the 2008-2009 recession you saw a sharp increase in the amount of people who played cheap online games games like Call of Duty, for instance, if you were around back, then you were probably playing Modern Warfare or Modern Warfare 2.And.
The reason for this is because you can buy a game for like 50 bucks and then get a Year’s worth of entertainment. Out of it, I mean, if you think about it, that is an incredible trade of value. You buy. A game doesn’t cost all that much and you’re able to be entertained for an entire year and the video game industry is already much bigger than Hollywood, for instance. So there’s a ton more money in video game industry than Hollywood, and it’s only going to get bigger with the onset of the metaverse and web 3.
and with everything coming down the line with virtual reality, augmented reality and the metaverse. The video game industry could literally be one of the top industries in the entire world, and I’m not even kidding about that. So this is the type of Online Entertainment that I think is going to do extremely well when it comes to a recession. Next, one on the list is going to be the medical field. The medical field is incredibly stable, especially in the United States.
Now, if you’re watching this from another country, for instance the Philippines, medical is probably not quite as good, but in the U.S, the medical field is phenomenal and if you think about it, it makes total sense. People in the medical field are truly essential, even if it was the end of the world. You know the world’s just about to end in like 10 minutes, there would still be doctors and nurses taking care of people, and doctor is probably the second oldest profession in the entire world, and there are a ton of different options for you to get into the Medical field all the way from getting a quick certificate at the very bottom which might take you a few months to getting a doctorate and doing a residency that would take you, probably somewhere between 12 and 15 years. For instance, it takes two years to become a sonographer there’s, 130 000 jobs, and it has a 14 growth rate over the next 10 years, which is much higher than average right now.
There’s three million nursing jobs in the US, and yet it’s still growing at 12 percent over the next 10 years, which is much faster than average as well. Physician assistant is growing at 31 percent, which is much faster than average, and you can compare these to another good profession. That’s just solid, like mechanical engineer and they’ll, see that it’s growing at four percent, which is just as fast as average. Now you might think that I’m cherry picking certain careers and it’s true – there are certain careers that have more demand than others, but overall Healthcare careers according to BLS are growing faster than any other type of occupation. Bls has them growing at 14 percent over the next 10 years, and on top of that, when I’m making conversation I’ll ask nurses, doctors, pharmacists, Etc.
What happened to them back in the 2008 recession and almost all of them say that they were totally fine and they were not affected at all the next one on the list is going to be government workers in general, so we already sort of talked about them With teachers, but that kind of comprised all of education but yeah government workers in general are going to be very, very solid. It’S almost ridiculous how difficult it is to get fired from a government job, not sure if that’s that’s a good thing, but it is what it is and if you look at this graph of jobs, uh lost and gained during the Great Recession. 2007 you’ll see that education and Health Services were the ones that gained the most and government also gained quite a bit as well. So yeah, government, education and Health Services were the only ones that gained jobs during a recession. But there were some other types of careers that didn’t lose very many jobs, so they were basically unaffected, and that is the next one on the list, which is trade careers.
So yeah, a friend of mine’s family, lived in Pittsburgh in 2008 during the crash when it happened and they basically said their family was unaffected because just about all of them work in the trades – and this makes sense think about it. You know if your toilet gets broken. It gets clogged up. You’Re, gon na call a plumber if your heater stops working and you’re freezing and it’s the middle of the winter you’re gon na call an HVAC technician. If your vehicle breaks down you’re gon na call a mechanic, most people don’t have the time, energy, patience or skill to do any of those things themselves now.
The catch here is that you might have to move some somewhere. That has a lot of opportunity, so, for instance, if you are working in HVAC, but you live in Los Angeles, which is a climate where the weather is almost always perfect and somebody’s air conditioner breaks, they might just decide to not fix it, because it would be A minor inconvenience and not something that is a necessity.
