What Are the Most Recession Proof Jobs?

You’ve probably heard that a recession is imminent. These periods of slower economic growth are often marred by forced career changes, as consumer spending decreases and businesses tighten the sails. But are there recession proof jobs that can help you weather the rough times ahead? As a matter of fact, there are:

11 Recession Proof Jobs

1. Physician Assistant
2. Law Enforcement
3. Utility Workers
4.  Social Workers
5. Education
6. Legal Services
7. Banking
8. Funeral
9. Grocery
10. IT Workers
11. Senior Care

Recessions are periodically part of larger economic cycles. Of course, that kind of macrocosmic observation doesn’t really matter to someone who has lost their job. Jobs disappear during recessions because a weakened consumer demand lowers company outputs. And when company outputs are lowered, workers are laid off. Some will be able to find a new job in the same industry, while others will learn a new skill. Some will collect unemployment for a period of time before being hired back at the same place. Others might have their hours reduced so their company can afford to retain them. But there are people who will keep their jobs because the industry they work in is recession proof.

If you’re wondering what might constitute a recession proof industry, it’s going to be something that people always need. If budgets become tight, consumers and businesses will still need to spend money on these essential goods and services. This bodes well for individuals working in these career fields. Although they will still likely feel the impact of a recession (it’s almost impossible for someone not to), they will still enjoy a greater degree of job security than someone employed in a more discretionary industry. Discretionary industries tend to be venues like retail, entertainment, and dining. Although it’s nice to shop for clothes, go to the movies, and eat in a restaurant when you have money, if you don’t have money, you’ll likely have to cut these items out of your budget.

What Are the Most Recession Proof Jobs?

The jobs outlined below are pretty much indispensable for day-to-day life, and thus less likely to be affected by downsizing during a recession.

1. Physician Assistant

The medical profession, in general, is going to be a safe bet during a recession. That’s because people still get sick. Entry level physician assistants make anywhere from $31K to $130K per year, while the gross annual salary of an experienced physician’s assistant can run up to more than $2 million.

Physician assistants are responsible for diagnosing and treating illnesses, either in a clinical practice or hospital setting, usually working under the supervision of a doctor. A job seeker in the health care industry can be a very fulfilling career path, and is certainly a recession proof job.

2. Law Enforcement

There will always be a need for law enforcement professionals, and this need may even increase during difficult economic times, as crime often rises during recessions and depressions.

While there are a number of different career paths in law enforcement, the most common and obvious one is a police officer. Though the salary varies from state to state, it generally runs between $60,000 to $70,000 per year. While the pay is certainly good, individuals considering this career path will take its inherent dangers into consideration.

Labor statistics indicate that being a cop, for instance, is a very stable job and many individuals in law enforcement stay in the force for years or decades. There are also related government jobs that act in supporting roles, including 911 dispatchers, correctional officers, and paramedics.

3. Utility Workers

Even in bad economies, people still need electricity, gas, and clean water. They need their sewage and garbage removed. This bodes well for everyone in the utility sector-everyone from customer service account representatives to utility workers maintaining power lines.

Because utilities are often public (or at least partially operated by local governments) there is not really much in the way of market competition, which creates job stability. A utility worker is not likely to lose their job, even as the unemployment rate affects other industries. Moreover, most roles in this field do not require a formal college education; usually a high school diploma will suffice.

4. Social Workers

Social workers help individuals navigate life by providing therapy services for emotional challenges or by helping impoverished families locate the social services they need. Many social workers are employed by nonprofits or government agencies, which translates to solid job security.

Enterprising individuals who like to march to the beat of their own drum should not write off being a social worker, because it’s very easy to work as an independent contractor or even run your own business as a therapist or care provider. These individuals can provide care to patients while billing insurance companies.

Generally speaking. the healthcare industry and mental health industry are going to yield a steady stream of clients no matter the underlying economic condition.

5. Education

Education is mandatory in America, which means (whether students like it or not) there is always going to be a demand for teachers. And while teaching in the K-12 setting is notorious for its unglamorous pay, teachers who stick it out for decades can rack up raises and secure tenure, which effectively means a secure, well-paying job for life. Teachers also tend to get very good retirement benefits, as schools often provide pensions as an incentive for retention.

If you have a master’s degree, you can explore opportunities in higher education, like becoming a college professor or adjunct professor, both of which are also a stable in an economic recession.

6. Legal Services

There are still going to be lawsuits during a recession, along with other events that necessitate the help of a lawyer, like divorce or bankruptcy. Lawyers are actually a great model for how to profit from inflation or recessionary climates because their business model takes advantage of disadvantageous circumstances in tough economic times that lead to bankruptcies and foreclosures.

In fact, lawyers, junior partners, and paralegals might be even busier during a recession, as legal proceedings skyrocket.

7. Banking

Banking is a solid industry in good times and bad because people always need financial services. Moreover, most banks are fairly good at retaining staff, as they are larger corporations. This doesn’t mean that banks don’t have layoffs, but layoffs are much less likely due to the necessary nature of the field.

If you are someone in the financial services sector, such as a stock broker or financial advisor, and you are well versed in topics like investing during inflation, you’ll be able to retain a lot of your existing business and possibly even pick up new clients even during tough economic times.

And then, of course, you can also become a certified public accountant, which is a great recession proof job because people and businesses always need to file taxes.

If you’re looking for tax planning or financial advice, consider signing up for a free strategy session with the experts at Anderson Business Advisors. This consultation will help you create a blueprint to meet your financial goals while protecting your assets from legal liabilities.  

8. Funeral

Only two things are certain in life: death and taxes. At least that’s how the saying goes…and when people do inevitably pass away, their loved ones will still spend money on respectfully interring or cremating the remains according to beliefs and customs.

Though certain aspects of the profession carry a certain sense of morbidity, being a funeral director or working in a funeral home is a great, stable career path for naturally empathetic individuals. This recession proof career may not be the hottest job in terms of the job market or job growth, but there is also less competition in the funeral care space, as many individuals find the job to be emotionally difficult.

9. Grocery

When people tighten their wallets, they tighten their spending on things like eating out at restaurants-but they still need to eat food.

Grocery store spending increases as people buy food to prepare in their own homes. If your employment is tied to a grocery store chain (whether that means working as a grocer, cashier, or administrative individual, either on-site or in the corporate offices), you will likely retain your job during a recession.

The grocery industry has a lot of related fields that are also very stable through tough economic times, including trucking, as food and other goods will still need to be moved from point A to point B.

10. IT Workers

Information technology really does make the world go round. The services IT workers provide in maintaining the hardware and software that facilitates everyday life are indispensable, and consequently, the field can provide a lot of job stability during tough economic times.

IT workers can be employed as an in-house tech person for a company, or as part of a larger firm that provides IT services to other businesses. Some IT workers may even have their own business. Whatever the case may be, a recession is likely going to have little effect on your job because while a company can pare back its marketing and packaging, they can’t pare back payment processing or security.

11. Senior Care

Another industry that is not going to be impacted by a recession as much is senior care. One reason for this is that the Boomer population is entering retirement en masse. Not only that, but people are living longer. This leads to a higher demand for healthcare workers and workers who facilitate the day-to-day operations at senior homes.

Recession Proof Jobs Weather Economy Instability

Unfortunately, adverse economic conditions do not improve the career prospects for everyone, even if they do have positive side effects. For example, home prices may increase during inflation, making inflation in real estate an exciting prospect for investors and landlords. But inflation can also make potential home buyers less interested in home buying, making life harder for real estate agents who live off commissions.

However, the job opportunities listed above-from a medical professional to a law enforcement officer to a teacher-are going to be in demand no matter what the economy is doing because these individuals provide services that people need.

Of course, there are always things you can do to prepare your finances for an economic recession. One of those things is by signing up for a free Infinity Investing membership. Our experts will provide you with the tools and expertise you need to maximize your income no matter what the markets are doing. Don’t just let your money dwindle in a savings account-start your investing journey today!

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