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September 2, 2008

Survival Guide: Recession-Resistant Jobs

By David R. Butcher

No job may be recession-proof, yet even in uncertain times, some sectors and professions are expected to remain strong. Moreover, there are some things you can do to keep your job as safe as possible.

The United States automotive industry may be shedding jobs left and right, but Toyota Motor Co. is sticking to its expensive tradition of no layoffs during hard times. In August, the automaker halted production of some plants in Texas and Indiana for three months, effectively idling 4,500 workers. Yet the automaker has refused to let its employees go — not to be nice, but in hopes to end up with a more skilled North American workforce.

The rest of today's workforce is not so lucky, of course, particularly during slow and difficult economic times.

With the national unemployment rate now at 5.7 percent — the highest level in four years — it seems to be getting increasingly difficult to land and hold a job. In July alone, the U.S. manufacturing sector accounted for 40 percent of all mass layoff events and 54 percent of initial claims filed, the Bureau of Labor Statistics reported in late August. The number of claimants was highest in transportation equipment manufacturing, followed by fabricated metal products.

Nonetheless, even in uncertain times, experts expect many sectors and certain professions to remain strong despite the current downturn.

Some jobs are, if not recession-proof, at least recession-resistant.

John Challenger, CEO of outplacement firm Challenger, Gray and Christmas, recently told Yahoo! HotJobs that careers in the following fields have a good chance of faring better than others:

  • Education — particularly teaching in high-growth areas like the Sun Belt;
  • Energy — jobs related to oil and gas, alternative energy and nuclear power;
  • Health care — nurses, physical therapists, physician and medical assistants, home health aides and medical records/information technicians;
  • International business — professionals with strong knowledge of other cultures and an ability to work in another country, particularly China; and
  • Environmental sector — growing interest in energy conservation and green energy is driving demand for people with skills in sustainability issues, including professionals like hydrologists and water testers.

Overall, the technology sector had the most professions in Jobfox's Top 20 Most Recession-Proof Professions report, released in July 2008. Among those "most recession-proof" jobs in the tech field: software design/development, networking/system administration, business administration (software implementation), testing/quality assurance, database administration and technology executive.

Jobfox states that the top 20 most recession-proof professions are:

1) Sales Representative/Business Development
2) Software Design/Development
3) Nursing
4) Accounting and Finance Executive
5) Accounting Staff
6) Networking/Systems Administration
7) Administrative Assistant
8) Business Analysis: Software Implementation
9) Business Analysis: Research
10) Finance Staff
11) Project Management
12) Testing/Quality Assurance
13) Product Management
14) Database Administration
15) Account/Customer Support
16) Technology Executive
17) Electrical Engineering
18) Sales Executive
19) Mechanical Engineering
20) Government Contracts Administration

5 Ways to Make Your Job Recession-Resistant
Job security is now a thing of the past. Employees can lose their jobs for any number of reasons unrelated to ability or performance. In times of economic downturn, job insecurity is even worse. It's a tough lesson to learn, but no job is truly secure and every single worker is expendable.

There are, however, some things you can do to keep your job as safe as possible.

Make yourself indispensable. "Build the case for why you're important to your current employer," a recent Washington Post special suggests. Now isn't the time to slack. "For starters, make sure you're working on a project that's core to your company's mission," suggests CNN Money. If your boss needs someone to volunteer for a project, raise your hand to do it, and then do it well.

Look for ways to save the company money. "Not sure where your job falls? Hint: Mission No. 1 is profit," notes CNN Money. "Focus on ideas that will bring in new revenue or clients, or will save the organization money," the Washington Post report recommends. "People who create value are the ones most likely to survive cuts."

Diversify your job skills through additional training. "Employers are less likely to lay off people with specialized skills," according to Consumer Reports. You want your skills to be current. "So investigate classes and other forms of training that can boost your value," Roberta Chinsky Matuson, a principal at Human Resource Solutions, tells Consumer Reports. "If you're thinking of getting a master's degree, do it now before it becomes necessary," Matuson says. Find out if your employer pays for continuing education in a tuition-reimbursement program.

Build and maintain your network connections. Reach out to professional and even social networks for support, and stay connected. Keep in touch with former coworkers and bosses with occasional lunches and e-mail, whether you're looking for work or not. Who knows, you might manage to survive another job cut or find something even better through someone on your Christmas card list.

Consider a career shift. "Switching industries in a downturn isn't easy," notes CNN Money. "But if job security is important to you and is lacking now, lay the groundwork for a shift to an area with better growth prospects."

"[R]ecession forces you to think about everything you've done, what you're doing now and what you want for yourself and your family," MSN Money noted a few years ago in an article titled 5 Ways to Recession-Proof Your Life. "It can be a valuable opportunity to review your perspectives, your options and your values — and to rearrange your priorities." Rather than let fear for your job take over during a recession or downturn, take time to breathe, gather your wits and move forward.

While no one profession or industry is 100 percent fail-safe, there are things you can do to keep your job as safe as possible — whether during a recession or just a temporary slowdown.


Resources

Top 20 Most Recession-Proof Professions
Jobfox, July 2008

Recession-Proof Your Career
by Vickie Elmer
The Washington Post (special), Feb. 24, 2008

Survival Strategies: Recession-Proof Your Life
by Stephen Gandel
CNN Money, Feb. 27, 2008

Recession-Proof Your Finances
Consumer Reports, April 2008

5 Ways to Recession-Proof Your Life
by Harry Domash
MSN Money, Nov. 18, 2002

Recession-Proof Jobs in 2008
by Larry Buhl
Yahoo! HotJobs

Toyota Idles Factories — But Can't Lay Anybody Off
by Lindsay Chappell
Automotive News (via Financial Week), Aug. 18, 2008


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Comment

1 Comments

Ryan said:

It's interesting that sales reps are #1. It would seem if there is less free money in the economy then sales reps would be some of the first to be let go. On the other hand, if you drive sales up this creates more free money. The balance.

September 3, 2008 11:45 PM




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